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COMPANY REGISTRATION NUMBER: 02881583
Robert Maguire Consulting Limited
Filleted Unaudited Financial Statements
31 March 2023
Robert Maguire Consulting Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Robert Maguire Consulting Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
649
1,201
Current assets
Debtors
7
5,717
6,099
Cash at bank and in hand
95,749
70,176
---------
--------
101,466
76,275
Creditors: amounts falling due within one year
8
15,071
9,969
---------
--------
Net current assets
86,395
66,306
--------
--------
Total assets less current liabilities
87,044
67,507
--------
--------
Net assets
87,044
67,507
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
86,944
67,407
--------
--------
Shareholders funds
87,044
67,507
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Robert Maguire Consulting Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 12 September 2023 , and are signed on behalf of the board by:
Mr R K Maguire
Director
Company registration number: 02881583
Robert Maguire Consulting Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
75,000
--------
Amortisation
At 1 April 2022 and 31 March 2023
75,000
--------
Carrying amount
At 31 March 2023
--------
At 31 March 2022
--------
6. Tangible assets
Fixtures, fittings and equipment
Total
£
£
Cost
At 1 April 2022 and 31 March 2023
4,471
4,471
-------
-------
Depreciation
At 1 April 2022
3,270
3,270
Charge for the year
552
552
-------
-------
At 31 March 2023
3,822
3,822
-------
-------
Carrying amount
At 31 March 2023
649
649
-------
-------
At 31 March 2022
1,201
1,201
-------
-------
7. Debtors
2023
2022
£
£
Other debtors
5,717
6,099
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
9,637
4,412
Social security and other taxes
3,778
3,208
Other creditors
1,656
2,349
--------
-------
15,071
9,969
--------
-------
9. Related party transactions
At the year end the company owed the director £156 (2022: £849).