Company Registration No. 07841854 (England and Wales)
Fenwick Consulting Solutions Limited
Unaudited accounts
for the year ended 31 December 2021
Fenwick Consulting Solutions Limited
Unaudited accounts
Contents
Fenwick Consulting Solutions Limited
Company Information
for the year ended 31 December 2021
Company Number
07841854 (England and Wales)
Registered Office
Congress House
Lyon Road
Harrow, England
HA1 2EN
United Kingdom
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Fenwick Consulting Solutions Limited
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
18,300
7,431
Creditors: amounts falling due within one year
(33,555)
(25,493)
Net current assets
9,045
469
Called up share capital
100
100
Profit and loss account
8,945
369
Shareholders' funds
9,045
469
For the year ending 31 December 2021 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.
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 and authorised for issue on 7 September 2022 and were signed on its behalf by
A Foux
Director
Company Registration No. 07841854
Fenwick Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 December 2021
Fenwick Consulting Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07841854. The registered office is Congress House, Lyon Road, Harrow, England, HA1 2EN, 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.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Fenwick Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 December 2021
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the Statement of Income and Retained Earnings.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Short term creditors are measured at the transaction price. Other financial liabilities. including bank loans, are measured initially at fair value, net of transaction cost, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividend are recognised when approved by the shareholders at an annual general meeting.
Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income 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 income.
Fenwick Consulting Solutions Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Debtors: amounts falling due within one year
2021
2020
Trade debtors
24,300
8,100
5
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
14,444
14,447
Other creditors
3,041
2,946
Loans from directors
7,970
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 2 (2020: 2).