Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

COVENANT FINANCIAL LIMITED - Company Information

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COVENANT FINANCIAL LIMITED

Company Registration Number:
SC396138 (Scotland)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

COVENANT FINANCIAL LIMITED

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 2 460 506
Total fixed assets: 460 506
Current assets
Debtors: 12,175 9,383
Cash at bank and in hand: 12,830 15,940
Total current assets: 25,005 25,323
Creditors: amounts falling due within one year: ( 24,732 ) ( 16,183 )
Net current assets (liabilities): 273 9,140
Total assets less current liabilities: 733 9,646
Provision for liabilities: 0 ( 101 )
Total net assets (liabilities): 733 9,545

The notes form part of these financial statements

COVENANT FINANCIAL LIMITED

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 3 115 110
Profit and loss account: 618 9,435
Shareholders funds: 733 9,545

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 09 July 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Innes Chalmers
Status: Director

The notes form part of these financial statements

COVENANT FINANCIAL LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    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 policy

    Turnover represents net invoiced sales of services, excluding value added tax.

    Tangible fixed assets depreciation policy

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

    Office Furniture - 20% on cost
    Computer Equipment - 25% on cost

COVENANT FINANCIAL LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Tangible assets

    Total
    Cost £
    01 April 2015: 675
    Additions: 190
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 865
    Depreciation
    01 April 2015: 169
    Charge for year: 236
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 405
    Net book value
    31 March 2016: 460
    31 March 2015: 506

COVENANT FINANCIAL LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 110 1.00 110
    Preference shares: 0
    Total share capital (£): 110
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 115 1.00 115
    Preference shares: 0
    Total share capital (£): 115