MONALISA_CONSULTING_LTD. - Accounts

MONALISA CONSULTING LTD. - Company Information

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Company Registration No. SC400670 (Scotland)

MONALISA CONSULTING LTD.

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2015

MONALISA CONSULTING LTD.

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MONALISA CONSULTING LTD.

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

4,463

5,286

Current assets

Debtors

11,936

13,686

Cash at bank and in hand

17,005

6,848

28,941

20,534

Creditors: amounts falling due within one year

(20,887)

(23,368)

Net current assets/(liabilities)

8,054

(2,834)

Total assets less current liabilities

12,517

2,452

Provisions for liabilities

(418)

(479)

12,099

1,973

Capital and reserves

Called up share capital

Profit and loss account

12,097

1,971

Shareholders' funds

12,099

1,973

For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 September 2015

Mrs M Herbert

Director

Company Registration No. SC400670

MONALISA CONSULTING LTD.

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

1.3

Turnover

Turnover represents the value of sales to customers, net of discounts and other payments to customers. Sales of services are recognised when the company has provided the service to the customer and collectability of the related receivable is reasonably assured.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and equipment

25% reducing balance

1.5

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MONALISA CONSULTING LTD.

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 June 2014

9,480

Additions

2,572

Disposals

(3,476)

At 31 May 2015

8,576

Depreciation

At 1 June 2014

4,194

On disposals

(1,571)

Charge for the year

1,490

At 31 May 2015

4,113

Net book value

At 31 May 2015

4,463

At 31 May 2014

5,286

Share capital

2015

2014

Allotted, called up and fully paid

1 Ordinary share of £1 each

1 A Ordinary share of £1 each