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Churchill Global Consultants Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2018

Registration number: 07309501

 

Churchill Global Consultants Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Churchill Global Consultants Limited

Balance Sheet

31 July 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

22,309

16,191

Current assets

 

Debtors

5

-

2,940

Cash at bank and in hand

 

24,556

32,187

 

24,556

35,127

Creditors: Amounts falling due within one year

6

(13,267)

(15,911)

Net current assets

 

11,289

19,216

Total assets less current liabilities

 

33,598

35,407

Provisions for liabilities

(2,704)

-

Net assets

 

30,894

35,407

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

30,892

35,405

Total equity

 

30,894

35,407

 

Churchill Global Consultants Limited

Balance Sheet

31 July 2018

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 November 2018 and signed on its behalf by:
 

.........................................
Mr D Edwards
Director

.........................................
Mrs S Edwards
Director

 
     

Company Registration Number: 07309501

 

Churchill Global Consultants Limited

Notes to the Financial Statements

Year Ended 31 July 2018

1

General information

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

The address of its registered office is:
80-83 Long Lane
London
Greater London
EC1A 9ET

These financial statements were authorised for issue by the Board on 4 November 2018.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Churchill Global Consultants Limited

Notes to the Financial Statements

Year Ended 31 July 2018

Tangible assets

Tangible assets are stated in the balance sheet 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

Land and buildings

20% Reducing balance

Furniture, fittings and equipment

20% Reducing balance

Motor Vehicles

20% Straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.




 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

 

Churchill Global Consultants Limited

Notes to the Financial Statements

Year Ended 31 July 2018

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2017

8,924

22,514

31,815

63,253

Additions

-

474

9,200

9,674

Disposals

-

-

(30,090)

(30,090)

At 31 July 2018

8,924

22,988

10,925

42,837

Depreciation

At 1 August 2017

-

15,458

31,604

47,062

Charge for the year

-

1,505

1,841

3,346

Eliminated on disposal

-

-

(29,880)

(29,880)

At 31 July 2018

-

16,963

3,565

20,528

Carrying amount

At 31 July 2018

8,924

6,025

7,360

22,309

At 31 July 2017

8,924

7,056

211

16,191

Included within the net book value of land and buildings above is £8,924 (2017 - £8,924) in respect of long leasehold land and buildings.
 

5

Debtors

2018
 £

2017
 £

Trade debtors

-

2,940

-

2,940

 

Churchill Global Consultants Limited

Notes to the Financial Statements

Year Ended 31 July 2018

6

Creditors

Creditors: amounts falling due within one year

2018
 £

2017
 £

Due within one year

Corporation tax

611

2,315

Social security and other taxes

343

1,731

Other creditors

10,833

10,415

Accrued expenses

1,480

1,450

13,267

15,911

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary A of £1 each

2

2

2

2