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COMPANY REGISTRATION NUMBER: 05715070
Southpoint Consultancy Limited
Filleted Unaudited Financial Statements
31 March 2018
Southpoint Consultancy Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
Fixed assets
Tangible assets
5
1,134
2,267
Current assets
Debtors
6
5,125
4,959
Cash at bank and in hand
1,536
149
-------
-------
6,661
5,108
Creditors: amounts falling due within one year
7
6,926
7,258
-------
-------
Net current liabilities
265
2,150
-------
-------
Total assets less current liabilities
869
117
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
769
17
----
----
Shareholders funds
869
117
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st March 2018 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 financial statements were approved by the board of directors and authorised for issue on 7 November 2018 , and are signed on behalf of the board by:
Mr S Petterson
Director
Company registration number: 05715070
Southpoint Consultancy Limited
Notes to the Financial Statements
year ended 31st March 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendragon House, 65 London Road, St Albans, AL1 1LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1st April 2017 and 31st March 2018
13,740
13,740
--------
--------
Depreciation
At 1st April 2017
11,473
11,473
Charge for the year
1,133
1,133
--------
--------
At 31st March 2018
12,606
12,606
--------
--------
Carrying amount
At 31st March 2018
1,134
1,134
--------
--------
At 31st March 2017
2,267
2,267
--------
--------
6. Debtors
2018
2017
£
£
Other debtors
5,125
4,959
-------
-------
7. Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
6,926
7,258
-------
-------