REGISTERED NUMBER: 06262312 (England and Wales)

Soltys Brewster Consulting Limited

Unaudited Financial Statements for the Year Ended 31 May 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr S Brewster

Registered office:

4 Stangate House

Stanwell Road

PENARTH

CF64 2AA

Registered number:

06262312 (England and Wales)

Accountants:

Haines Watts Wales LLP

7 Neptune Court

Vanguard Way

Cardiff

CF24 5PJ

Fixed assets

Intangible assets

4

181,400

226,750

Tangible assets

5

53,666

56,404

235,066

283,154

Current assets

Debtors

6

176,918

106,952

Cash at bank and in hand

197,595

302,259

374,513

409,211

Creditors

Amounts falling due within one year

7

(132,469

)

(153,759

)

Net current assets

242,044

255,452

Total assets less current liabilities

477,110

538,606

Creditors

Amounts falling due after more than one year

8

(20,930

)

(30,461

)

Provisions for liabilities

(13,172

)

(13,803

)

Net assets

443,008

494,342

Capital and reserves

Called up share capital

9

240

240

Retained earnings

10

442,768

494,102

Shareholders' funds

443,008

494,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:

Mr S Brewster - Director

1.	Statutory information

Soltys Brewster Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of consultancy fees.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Goodwill is amortised on a straight line basis at 5%, as at 31 May 2023 there is 4 years left to amortise.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Improvements to property

-

20% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

3.	Employees and directors

The average number of employees during the year was 10 (2022 - 11 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 June 2022

and 31 May 2023

907,000

Amortisation

At 1 June 2022

680,250

Amortisation for year

45,350

At 31 May 2023

725,600

Net book value

At 31 May 2023

181,400

At 31 May 2022

226,750

5.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 June 2022

1,768

8,206

8,175

143,270

161,419

Additions

-

-

-

6,566

6,566

Disposals

-

-

-

(454

)

(454

)

At 31 May 2023

1,768

8,206

8,175

149,382

167,531

Depreciation

At 1 June 2022

1,569

7,185

6,190

90,071

105,015

Charge for year

39

153

298

8,592

9,082

Eliminated on disposal

-

-

-

(232

)

(232

)

At 31 May 2023

1,608

7,338

6,488

98,431

113,865

Net book value

At 31 May 2023

160

868

1,687

50,951

53,666

At 31 May 2022

199

1,021

1,985

53,199

56,404

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

152,327

91,804

Other debtors

45

136

Prepayments

24,546

15,012

176,918

106,952

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

15,157

10,884

Tax

36,364

22,286

Social security and other taxes

3,870

4,512

VAT

31,724

56,348

Other creditors

6,017

7,762

Accrued expenses

29,337

41,967

132,469

153,759

8.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

10,930

20,461

20,930

30,461

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

200

A Ordinary

1

200

200

20

B Ordinary

1

20

20

20

C ordinary

1

20

20

240

240

10.

Reserves

Retained

earnings

£

At 1 June 2022

494,102

Profit for the year

54,066

Dividends

(105,400

)

At 31 May 2023

442,768

11.	Ultimate controlling party

The ultimate controlling party is Mr S Brewster.