Recept Consulting Limited - Period Ending 2016-09-30

Registration number: 07252231

Recept Consulting Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

Recept Consulting Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Recept Consulting Limited
(Registration number: 07252231)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			72,046			3,369
Investments					751			10,000
					72,797			13,369
Current assets
Debtors					39,625			525
Cash at bank and in hand					59,127			150,497
					98,752			151,022
Creditors: Amounts falling due within one year					(78,438)			(85,763)
Net current assets					20,314			65,259
Total assets less current liabilities					93,111			78,628
Creditors: Amounts falling due after more than one year					(48,128)			-
Provisions for liabilities					(14,409)			-
Net assets					30,574			78,628
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					29,574			77,628
Shareholders' funds					30,574			78,628

For the year ending 30 September 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 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 6 April 2017

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

Recept Consulting Limited
(Registration number: 07252231)
Abbreviated Balance Sheet at 30 September 2016
......... continued

.........................................
Mr P C Clarke
Director

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

Recept Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Fixtures, fittings & equipment	33% on the straight line basis
Motor vehicles	25% on Reducing balance method

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Recept Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

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.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 October 2015		10,060			10,000			20,060
Additions		85,382			750			86,132
At 30 September 2016		95,442			10,750			106,192
Depreciation
At 1 October 2015		6,691			-			6,691
Charge for the year		16,705			9,999			26,704
At 30 September 2016		23,396			9,999			33,395
Net book value
At 30 September 2016		72,046			751			72,797
At 30 September 2015		3,369			10,000			13,369

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Recept Asset Management Limited	United Kingdom	Ordinary Shares	75%	managing real estate
Solaris Developments Limited	united Kingdom	Ordinary Shares	100%	Dormant

The profit for the financial period of Recept Asset Management Limited was £19,101 and the aggregate amount of capital and reserves at the end of the period was £50,189.

Page 4

Recept Consulting Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

The profit for the financial period of Solaris Developments Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £5,318.

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 5