Double Loop Engineering Limited - Period Ending 2014-12-31

Registration number: SC465112

Double Loop Engineering Limited

Unaudited Abbreviated Accounts

for the Period from 3 December 2013 to 31 December 2014

 

Baker Tilly Tax and Accounting Limited
Chartered Accountants
52 - 54 Queen's Road
Aberdeen
AB15 4YE

Double Loop Engineering Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Accountant's Report to the Director on the Preparation of the
Unaudited Abbreviated Financial Statements of Double Loop Engineering Limited
for the Period Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we prepared for your approval the abbreviated financial statements of Double Loop Engineering Limited which comprise the Balance Sheet, and the related notes as set out on pages 2 to 4 from the accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the board of directors of Double Loop Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Double Loop Engineering Limited and state those matters that we have agreed to state to them in accordance with AAF 2/10 as detailed at icaew.com/compilation. This report should not therefore be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Baker Tilly Tax and Accounting Limited for any purpose or in any context. Any party other than the directors which obtains access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. To the fullest extent permitted by law, Baker Tilly Tax and Accounting Limited will accept no responsibility or liability in respect of this report to any other party and shall not be liable for any loss, damage or expense of whatsoever nature which is caused by any person's reliance on representations in this report.

It is your duty to ensure that Double Loop Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Double Loop Engineering Limited under the Companies Act 2006. You consider that Double Loop Engineering Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Double Loop Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements or abbreviated financial statements.

......................................

Baker Tilly Tax and Accounting Limited
Chartered Accountants
52 - 54 Queen's Road
Aberdeen
AB15 4YE

3 September 2015

Page 1

Double Loop Engineering Limited
(Registration number: SC465112)
Abbreviated Balance Sheet at 31 December 2014

		Note			31 December 2014 £
Fixed assets
Tangible fixed assets		2			687
Current assets
Debtors					2,294
Cash at bank and in hand					70,255
					72,549
Creditors: Amounts falling due within one year					(28,646)
Net current assets					43,903
Net assets					44,590
Capital and reserves
Called up share capital		3			100
Profit and loss account					44,490
Shareholders' funds					44,590

For the period ended 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 3 September 2015

.........................................
Mr G R McGowan
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Double Loop Engineering Limited
Notes to the Abbreviated Accounts for the Period from 3 December 2013 to 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services and excludes value added tax. When an invoice in a future period includes income relating to the current period, that income is included in the current period as accrued income.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Double Loop Engineering Limited
Notes to the Abbreviated Accounts for the Period from 3 December 2013 to 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		904			904
At 31 December 2014		904			904
Depreciation
Charge for the period		217			217
At 31 December 2014		217			217
Net book value
At 31 December 2014		687			687

3	Share capital

Allotted, called up and fully paid shares

	31 December 2014
		No.			£
Ordinary A shares of £1 each		50			50
Ordinary B shares of £1 each		50			50
		100			100

New shares allotted

During the period 50 Ordinary A shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £50.

During the period 50 Ordinary B shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £50.

Page 4