0 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2,681 1,634 262 1,896 785 1,047 1,958,298 1,548,426 1,572,834 102,874 2,036,764 2,036,764 1,958,298 xbrli:pure xbrli:shares iso4217:GBP 09190410 2022-04-01 2023-03-31 09190410 2023-03-31 09190410 2022-03-31 09190410 2022-03-31 09190410 bus:Director1 2022-04-01 2023-03-31 09190410 core:WithinOneYear 2023-03-31 09190410 core:WithinOneYear 2022-03-31 09190410 core:ShareCapital 2023-03-31 09190410 core:ShareCapital 2022-03-31 09190410 core:RetainedEarningsAccumulatedLosses 2023-03-31 09190410 core:RetainedEarningsAccumulatedLosses 2022-03-31 09190410 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 09190410 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 09190410 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-03-31 09190410 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 09190410 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 09190410 core:Non-currentFinancialInstruments 2023-03-31 09190410 core:Non-currentFinancialInstruments 2022-03-31 09190410 bus:SmallEntities 2022-04-01 2023-03-31 09190410 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09190410 bus:FullAccounts 2022-04-01 2023-03-31 09190410 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09190410 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09190410 core:PlantMachinery 2022-04-01 2023-03-31 09190410 core:PlantMachinery 2023-03-31 09190410 core:PlantMachinery 2022-03-31 09190410 bus:Chairman 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 09190410
Patsalos Consulting limited
Filleted Unaudited Financial Statements
31 March 2023
Patsalos Consulting limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
785
1,047
Investments
5
2,036,764
1,958,298
------------
------------
2,037,549
1,959,345
Current assets
Debtors
6
129,172
128,892
Cash at bank and in hand
433,319
618,343
---------
---------
562,491
747,235
Creditors: amounts falling due within one year
7
33,569
74,554
---------
---------
Net current assets
528,922
672,681
------------
------------
Total assets less current liabilities
2,566,471
2,632,026
Provisions
Taxation including deferred tax
149
262
------------
------------
Net assets
2,566,322
2,631,764
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
2,566,321
2,631,763
------------
------------
Shareholders funds
2,566,322
2,631,764
------------
------------
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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Patsalos 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 9 October 2023 , and are signed on behalf of the board by:
Ms Patsalos
Director
Company registration number: 09190410
Patsalos 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 Hill house, 1 Little new street, London, EC4A 3TR.
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.
Going concern
The directors have reviewed the company's financial position and, in particular, have considered the potential implications of the Coronavirus (COVID-19) pandemic. With the benefit of the government support packages available to individuals, the directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Income tax
Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% reducing balance
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.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2022 and 31 March 2023
2,681
2,681
-------
-------
Depreciation
At 1 April 2022
1,634
1,634
Charge for the year
262
262
-------
-------
At 31 March 2023
1,896
1,896
-------
-------
Carrying amount
At 31 March 2023
785
785
-------
-------
At 31 March 2022
1,047
1,047
-------
-------
5. Investments
Other investments other than loans
£
Cost
At 1 April 2022
1,958,298
Additions
1,548,426
Disposals
( 1,572,834)
Revaluations
102,874
------------
At 31 March 2023
2,036,764
------------
Impairment
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
2,036,764
------------
At 31 March 2022
1,958,298
------------
6. Debtors
2023
2022
£
£
Trade debtors
28,906
22,170
Other debtors
100,266
106,722
---------
---------
129,172
128,892
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,999
6,002
Corporation tax
26,837
64,596
Other creditors
733
3,956
--------
--------
33,569
74,554
--------
--------
8. Director's advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.