Austin McKeown Consulting Ltd - Period Ending 2017-03-31

Registration number: 8902403

Austin McKeown Consulting Ltd

Unaudited Financial Statements

for the Period from 1 March 2016 to 31 March 2017

Beever and Struthers
Chartered Accountants
St Georges House
215 - 219 Chester Road
Manchester
M15 4JE

Austin McKeown Consulting Ltd

Contents

Statement Financial Position	1
Notes to the Financial Statements	2 to 4

Austin McKeown Consulting Ltd

(Registration number: 8902403)
Statement Financial Position as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	-	520
Current assets
Debtors	4	424	538
Cash at bank and in hand		13,827	58,999
		14,251	59,537
Creditors: Amounts falling due within one year	5	(2,293)	(2,313)
Net current assets		11,958	57,224
Net assets		11,958	57,744
Capital and reserves
Called up share capital		100	100
Profit and loss account		11,858	57,644
Shareholders Funds		11,958	57,744

For the financial period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Satement has been taken.

Approved and authorised by the director on 18 December 2017
 

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

Mr E P Austin

Director

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

Page 1

Austin McKeown Consulting Ltd

Notes to the Financial Statements for the Period from 1 March 2016 to 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
16 Nethercote Avenue
Manchester
Lancashire
M23 1LL

These financial statements were authorised for issue by the director on 18 December 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A for small entities. The date of transition is 1 March 2016. The transition to FRS 102 Section 1A for small entities has resulted in no changes in accounting policies to those previously used.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	33% Straight Line

Page 2

Austin McKeown Consulting Ltd

Notes to the Financial Statements for the Period from 1 March 2016 to 31 March 2017

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instrument. 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

Austin McKeown Consulting Ltd

Notes to the Financial Statements for the Period from 1 March 2016 to 31 March 2017

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 March 2016	1,529	1,529
At 31 March 2017	1,529	1,529
Depreciation
At 1 March 2016	1,009	1,009
Charge for the year	520	520
At 31 March 2017	1,529	1,529
Carrying amount
At 31 March 2017	-	-
At 29 February 2016	520	520

4

Debtors

	2017 £	2016 £
Other debtors	424	538
Total current trade and other debtors	424	538

5

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		1,320	-
Taxation and social security		211	-
Other creditors		762	2,313
		2,293	2,313

6	Transition to FRS 102

These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A for small entities. The transition to FRS 102 Section 1A for small entities has resulted in no changes in accounting policies to those previously used.

Page 4