Company registration number SC340393 (Scotland)
Blackhall Consulting Limited
Unaudited financial statements
for the year ended 31 March 2022
Pages for filing with registrar
Blackhall Consulting Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Blackhall Consulting Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Blackhall Consulting Limited for the year ended 31 March 2022 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the Board of Directors of Blackhall Consulting Limited, as a body, in accordance with the terms of our engagement letter dated 25 March 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Blackhall Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Blackhall Consulting Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blackhall Consulting Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Blackhall Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Blackhall Consulting Limited. You consider that Blackhall Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Blackhall Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
Rosewood
Raemoir Road
Banchory
AB31 4ET
2 September 2022
Blackhall Consulting Limited
Statement of financial position
at 31 March 2022
2
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,416
385
Investment properties
3
173,000
173,000
Investments
4
312,858
233,767
488,274
407,152
Current assets
Debtors
3,249
2,036
Cash at bank and in hand
368,429
354,336
371,678
356,372
Creditors: amounts falling due within one year
(10,181)
(6,663)
Net current assets
361,497
349,709
Total assets less current liabilities
849,771
756,861
Provisions for liabilities
(624)
-
0
Net assets
849,147
756,861
Capital and reserves
Called up share capital
10
10
Other reserve
(65,709)
(139,237)
Profit and loss reserves
914,846
896,088
Total equity
849,147
756,861
Blackhall Consulting Limited
Statement of financial position (continued)
at 31 March 2022
3

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 August 2022 and are signed on its behalf by:
P Nigel Bowker
Director
Company Registration No. SC340393
Blackhall Consulting Limited
Notes to the financial statements
for the year ended 31 March 2022
4
1
Accounting policies
Company information

Blackhall Consulting Limited is a private company limited by shares incorporated in Scotland. The registered office is Rosewood, Raemoir Road, Banchory, Kincardineshire, United Kingdom, AB31 4ET.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Fixed asset investments are initially recorded at cost and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

1.5
Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Blackhall Consulting Limited
Notes to the financial statements (continued)
for the year ended 31 March 2022
1
Accounting policies (continued)
5
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Blackhall Consulting Limited
Notes to the financial statements (continued)
for the year ended 31 March 2022
6
2
Tangible fixed assets
Total
£
Cost
At 1 April 2021
11,468
Additions
2,898
At 31 March 2022
14,366
Depreciation and impairment
At 1 April 2021
11,083
Depreciation charged in the year
867
At 31 March 2022
11,950
Carrying amount
At 31 March 2022
2,416
At 31 March 2021
385
3
Investment property
2022
£
Fair value
At 1 April 2021 and 31 March 2022
173,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at by the Director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Fixed asset investments
2022
2021
£
£
Investments
312,858
233,767
5
Related party transactions

 

At 31st March 2022 £4,136 was due by the company to a close family member (2021 - £3,159 was due to the company).

Blackhall Consulting Limited
Notes to the financial statements (continued)
for the year ended 31 March 2022
7
6
Directors' transactions

During the year the directors entered into the following advances and credits with the company:

Description
Opening  balance
Amounts repaid
Closing    credit    balance
£
£
£
Paul Nigel Bowker
1,190
312
1,502
1,190
312
1,502
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