Conduit Finance Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC459680 (Scotland)

Conduit Finance Limited

Abbreviated Unaudited Accounts

for the Period

20 September 2013 to 30 September 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Davidson

Mrs L Davidson

REGISTERED OFFICE:

49 Northumberland Street

Edinburgh

EH3 6JJ

REGISTERED NUMBER:

SC459680 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

EH3 6AT

BANKERS:

Bank of Scotland

PO Box 17235

Frederick Street

Edinburgh

EH11 1YH

FIXED ASSETS

Tangible assets

2

736

CURRENT ASSETS

Debtors

38,193

Cash at bank and in hand

29,868

68,061

CREDITORS

Amounts falling due within one year

62,377

NET CURRENT ASSETS

5,684

TOTAL ASSETS LESS CURRENT LIABILITIES

6,420

PROVISIONS FOR LIABILITIES

147

NET ASSETS

6,273

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

6,173

SHAREHOLDERS' FUNDS

6,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 June 2015 and were signed on its behalf by:

J Davidson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net sales of financial services, excluding Value Added Tax.

Revenue is recognised when the company has obtained the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more

likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

1,019

At 30 September 2014

1,019

DEPRECIATION

Charge for period

283

At 30 September 2014

283

NET BOOK VALUE

At 30 September 2014

736

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended

30 September 2014:

£

J Davidson

Balance outstanding at start of period

-

Amounts advanced

46,312

Amounts repaid

(38,929

)

Balance outstanding at end of period

7,383

Mrs L Davidson

Balance outstanding at start of period

-

Amounts advanced

46,312

Amounts repaid

(38,929

)

Balance outstanding at end of period

7,383

£9,106 of the outstanding balance on the directors' loan accounts has been repaid since the year

end.