Company Registration No. 07493058 (England and Wales)
RW Consulting Solutions Limited
Unaudited accounts
for the year ended 31 January 2022
RW Consulting Solutions Limited
Unaudited accounts
Contents
RW Consulting Solutions Limited
Company Information
for the year ended 31 January 2022
Directors
Robert William Walley
Samantha Elysteg Simmonds
Company Number
07493058 (England and Wales)
Registered Office
167-169 Great Portland Street
5th Floor
London
W1W 5PF
United Kingdom
Accountants
Nutshell Accounts
15 London End
Beaconsfield
Buckinghamshire
HP9 2HN
RW Consulting Solutions Limited
Statement of financial position
as at 31 January 2022
Tangible assets
36,627
31,800
Cash at bank and in hand
18,697
78,784
Creditors: amounts falling due within one year
(120,106)
(148,400)
Net current (liabilities)/assets
(19,958)
17,622
Total assets less current liabilities
16,669
49,422
Provisions for liabilities
Other provisions
(11,025)
-
Called up share capital
1
1
Profit and loss account
5,643
49,421
Shareholders' funds
5,644
49,422
For the year ending 31 January 2022 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2022 and were signed on its behalf by
Robert William Walley
Director
Company Registration No. 07493058
RW Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 January 2022
RW Consulting Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07493058. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF, United Kingdom.
2
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
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:
Motor vehicles
25% straight line
Fixtures & fittings
33% straight line
Computer equipment
25% straight line
Other tangible fixed assets
25% straight line
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost.
RW Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 January 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2021
222,821
12,837
2,605
238,263
Additions
12,855
29,000
1,464
43,319
Disposals
(222,821)
(12,837)
(2,605)
(238,263)
At 31 January 2022
12,855
29,000
1,464
43,319
At 1 February 2021
194,231
9,627
2,605
206,463
Charge for the year
28,955
9,251
285
38,491
On disposals
(222,821)
(12,836)
(2,605)
(238,262)
At 31 January 2022
365
6,042
285
6,692
At 31 January 2022
12,490
22,958
1,179
36,627
At 31 January 2021
28,590
3,210
-
31,800
5
Debtors: amounts falling due within one year
2022
2021
Trade debtors
35,235
83,011
Accrued income and prepayments
26,216
4,227
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
87,936
82,556
Trade creditors
25,845
15,956
Taxes and social security
722
18,111
7
Provisions for liabilities
£
Additional provisions made during the period
11,025
Included within provisions is £11,025 relating to Innovate funding reclaim which is expected to be paid within the next year.
Included within Other Debtors is a directors loan of £20,000 owing to the Company as at 31 January 2022 (2021: £665 directors loan payable). No interest is payable on the loan.
RW Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 January 2022
9
Transactions with related parties
No transactions with related parties were undertaken such as are required to be disclosed under FRS102.
10
Average number of employees
During the year the average number of employees was 2 (2021: 4).