Registered number
11674992
Economy Consulting Limited
Unaudited Filleted Accounts
31 March 2022
Economy Consulting Limited
Registered number: 11674992
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 644 858
Current assets
Debtors 4 1,524 7,275
Cash at bank and in hand 8,598 22,508
10,122 29,783
Creditors: amounts falling due within one year 5 (8,612) (13,022)
Net current assets 1,510 16,761
Net assets 2,154 17,619
Capital and reserves
Called up share capital 10 10
Profit and loss account 2,144 17,609
Shareholder's funds 2,154 17,619
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr. M J H Vaughan
Director
Approved by the board on 13 September 2022
Economy Consulting Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 1,421
At 31 March 2022 1,421
Depreciation
At 1 April 2021 563
Charge for the year 214
At 31 March 2022 777
Net book value
At 31 March 2022 644
At 31 March 2021 858
4 Debtors 2022 2021
£ £
Trade debtors - 7,275
Other debtors 1,524 -
1,524 7,275
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 450 330
Corporation tax 4,991 10,180
Other creditors 3,171 2,512
8,612 13,022
6 Other information
Economy Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
Economy Consulting Limited 11674992 false 2021-04-01 2022-03-31 2022-03-31 VT Final Accounts April 2022 Dr. M J H Vaughan No description of principal activity 11674992 2020-04-01 2021-03-31 11674992 core:WithinOneYear 2021-03-31 11674992 core:ShareCapital 2021-03-31 11674992 core:RetainedEarningsAccumulatedLosses 2021-03-31 11674992 2021-04-01 2022-03-31 11674992 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11674992 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 11674992 bus:Director40 2021-04-01 2022-03-31 11674992 1 2021-04-01 2022-03-31 11674992 2 2021-04-01 2022-03-31 11674992 core:PlantMachinery 2021-04-01 2022-03-31 11674992 countries:England 2021-04-01 2022-03-31 11674992 bus:FRS102 2021-04-01 2022-03-31 11674992 bus:FullAccounts 2021-04-01 2022-03-31 11674992 2022-03-31 11674992 core:WithinOneYear 2022-03-31 11674992 core:ShareCapital 2022-03-31 11674992 core:RetainedEarningsAccumulatedLosses 2022-03-31 11674992 core:PlantMachinery 2022-03-31 11674992 2021-03-31 11674992 core:PlantMachinery 2021-03-31 iso4217:GBP xbrli:pure