DAF Consultancy Limited - Period Ending 2015-12-31

 
 
 
 
 
 
 
  DAF Consultancy Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 December 2015
 
  Company Registration Number: 05499891

DAF Consultancy Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

DAF Consultancy Limited
Abbreviated Balance Sheet
31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					358,699			360,245
Current assets
Debtors					220,690			200,130
Cash at bank and in hand					65,644			231,569
					286,334			431,699
Creditors: Amounts falling due within one year					(315,508)			(281,174)
Net current (liabilities)/assets					(29,174)			150,525
Total assets less current liabilities					329,525			510,770
Creditors: Amounts falling due after more than one year					(310,409)			(405,430)
Provisions for liabilities					(13,124)			(3,392)
Net assets					5,992			101,948
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					5,991			101,947
Shareholders' funds					5,992			101,948

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

DAF Consultancy Limited
Abbreviated Balance Sheet
31 December 2015 ......... continued

For the year ending 31 December 2015 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 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 13 July 2016

Mr D A Freeman
Director

Company Registration Number: 05499891

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

DAF Consultancy Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors (and bankers).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers. Revenue is recognised at the point the service is delivered to the customer.

Revenue grants

Grants are credited to deferred income and released to the profit and loss account in line with the associated costs.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 4 years.

Asset class	Amortisation method and rate
Goodwill	25% straight line

Depreciation

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

Asset class	Depreciation method and rate
Freehold property	2% straight line
Freehold property improvements	10% straight line
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

DAF Consultancy Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		7,001			393,921			400,922
Additions		-			15,169			15,169
Disposals		-			(13,030)			(13,030)
At 31 December 2015		7,001			396,060			403,061
Depreciation
At 1 January 2015		7,001			33,676			40,677
Charge for the year		-			11,218			11,218
Eliminated on disposals		-			(7,533)			(7,533)
At 31 December 2015		7,001			37,361			44,362
Net book value
At 31 December 2015		-			358,699			358,699
At 31 December 2014		-			360,245			360,245

Page 4

DAF Consultancy Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... continued

3	Creditors1

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		36,522			39,368
Amounts falling due after more than one year		310,409			346,930
Total secured creditors		346,931			386,298

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A shares of £0.01 each		60			£0.60			60			£0.60
Ordinary B shares of £0.01 each		40			£0.40			40			£0.40
		100			£1.00			100			£1.00

5	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr D A Freeman
During the year	-	-	27,332	27,332

Page 5