Company Registration No. 02943338 (England and Wales)
Consorticon Ltd
Unaudited accounts for filing with The Registrar
for the year ended 31 December 2017
Consorticon Ltd
Unaudited accounts for filing with The Registrar
Contents
Consorticon Ltd
Company Information
for the year ended 31 December 2017
Company Number
02943338 (England and Wales)
Registered Office
Suite F, Ground Floor, Breakspear Park,
Breakspear Way
Hemel Hempstead
Herts
HP2 4TZ
Accountants
Andrew Yaras & Co.
2 Fishpool Street
St Albans
Herts
AL3 4RT
Consorticon Ltd
Statement of financial position
as at 31 December 2017
Intangible assets
221,391
229,577
Tangible assets
84,500
105,625
Cash at bank and in hand
-
46,391
Creditors: amounts falling due within one year
(66,188)
(70,057)
Net current (liabilities)/assets
(43,790)
26,892
Total assets less current liabilities
262,101
362,094
Creditors: amounts falling due after more than one year
(25,900)
(25,900)
Net assets
236,201
336,194
Called up share capital
100
100
Profit and loss account
236,101
336,094
Shareholders' funds
236,201
336,194
For the year ending 31 December 2017 the company was entitled to exemption from audit 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 September 2018.
Mrs K Williams
Director
Company Registration No. 02943338
Consorticon Ltd
Notes to the Accounts
for the year ended 31 December 2017
Consorticon Ltd is a private company, limited by shares, registered in England and Wales, registration number 02943338. The registered office is Suite F, Ground Floor, Breakspear Park, , Breakspear Way, Hemel Hempstead, Herts, HP2 4TZ .
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Value
Computer equipment
20% Reducing Value
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the company are recognised as intangible assets when the criteria regarding the eligibility of the asset and future economic benefits as set out in section 18 of FRS102 have been met.
Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life of between 5 and 10 years. Development costs are reviewed for impairment if factors indicate that the carrying amount may be impaired.
Expenditure on research and development is either written off in the year in which it is incurred or capitalised as development expenditure in accordance with the policy on intangible fixed assets above.
Trade and other debtors are recognised at the transaction value, less any impairment.
Consorticon Ltd
Notes to the Accounts
for the year ended 31 December 2017
Trade creditors are recognised at their transaction value. Other creditors are included at fair value.
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Intangible fixed assets
Total
At 31 December 2017
274,334
Charge for the year
27,434
At 31 December 2017
52,943
At 31 December 2017
221,391
At 31 December 2016
229,577
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Tangible fixed assets
Total
At 31 December 2017
166,974
Charge for the year
21,125
At 31 December 2017
82,474
At 31 December 2017
84,500
At 31 December 2016
105,625
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Transactions with related parties
At 31 December 2017 the balance due to the director was nil (2016: £21,752).
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Average number of employees
During the year the average number of employees was 3 (2016: 2).