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Registration number: 10956130

David Black Consultancy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

David Black Consultancy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

David Black Consultancy Ltd

Company Information

Director

Mr David Black

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

David Black Consultancy Ltd

(Registration number: 10956130)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,182

-

Current assets

 

Debtors

5

52,114

66,149

Cash at bank and in hand

 

26,798

34,199

 

78,912

100,348

Creditors: Amounts falling due within one year

6

(77,143)

(87,376)

Net current assets

 

1,769

12,972

Total assets less current liabilities

 

2,951

12,972

Creditors: Amounts falling due after more than one year

6

(8,655)

(13,848)

Net liabilities

 

(5,704)

(876)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(5,705)

(877)

Shareholders' deficit

 

(5,704)

(876)

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

David Black Consultancy Ltd

(Registration number: 10956130)
Balance Sheet as at 30 September 2023

Approved and authorised by the director on 10 October 2023
 

.........................................

Mr David Black
Director

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
England

These financial statements were authorised for issue by the director on 10 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Furnoture

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,477

1,477

At 30 September 2023

1,477

1,477

Depreciation

Charge for the year

295

295

At 30 September 2023

295

295

Carrying amount

At 30 September 2023

1,182

1,182

5

Debtors

Current

2023
£

2022
£

Other debtors

52,114

66,149

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

5,194

5,193

Taxation and social security

 

71,949

82,183

 

77,143

87,376

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

8,655

13,848

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,655

13,848

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,194

5,193

9

Related party transactions

 

David Black Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

49,924

49,924

Advanced

9,049

9,049

Repaid

(20,959)

(20,959)

Interest transactions

950

950

At end of period

38,964

38,964

2022

Other related parties
£

Total
£

At start of period

65,475

65,475

Advanced

6,389

6,389

Repaid

(23,158)

(23,158)

Interest transactions

1,218

1,218

At end of period

49,924

49,924

Terms of loans to related parties

Included in other debtors is a directors loan of £38,964 (2022: £49,924).
Interest is charged at the current official rate of 2.50%.The loan is repayable on demand.