Aray Design Consultancy Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06866004 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

ARAY DESIGN CONSULTANCY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A Aziz

REGISTERED OFFICE:

Foframe House

35 - 37 Brent Street

London

NW4 2EF

REGISTERED NUMBER:

06866004 (England and Wales)

CURRENT ASSETS

Debtors

3

11,769

CREDITORS

Amounts falling due within one year

4

(11,159

)

(11,159

)

NET CURRENT ASSETS

610

TOTAL ASSETS LESS CURRENT LIABILITIES

610

CAPITAL AND RESERVES

Called up share capital

500

Retained earnings

110

SHAREHOLDERS' FUNDS

610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 December 2018 and were signed by:

A Aziz - Director

1.	STATUTORY INFORMATION

ARAY Design Consultancy Ltd is a private company, limited by shares, incorporated in the United Kingdom and registered in

England and Wales. The company's registration number is 06866004, the registered office is Foframe House, 35 - 37 Brent

Street, London, NW4 2EF and the company's trading address is 2 Eastbourne Terrace, London, W2 6LG.

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company. Monetary amounts in these

financial statements are rounded to the nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned

subsidiaries within the group.

Significant judgements and estimates

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, management have been required to make judgements, estimates and

assumptions. These estimates relate to the carrying value of assets and liabilities that are based on underlying assumptions

and other factors, which are considered to be relevant. Actual results may differ from these estimates. These estimates and

assumptions are reviewed on an on-going basis.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial

statements.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial

Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to

the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and

settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts

discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each

reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the

initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the

impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted

at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the

impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount

would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or

when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if

some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is

able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered

into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are

classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from

suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are

presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at

amortised cost using the effective interest method.

Other financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered

into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of

its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

Amounts owed by group undertakings

4,032

Amounts owed by participating interests

7,737

11,769

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

Bank loans and overdrafts

2

Amounts owed to participating interests

11,157

11,159

5.	ULTIMATE PARENT COMPANY

The controlling party is ARAY Group Ltd.