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Registration number: 14286559

Concord Consult Limited

Annual Report and Unaudited Financial Statements

for the Period from 9 August 2022 to 31 August 2023

 

Concord Consult Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Concord Consult Limited

Company Information

Directors

Mr Andrew Charles Reynolds

Miss Nancy Jane Hallam

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Concord Consult Limited

(Registration number: 14286559)
Balance Sheet as at 31 August 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

74,864

Current assets

 

Debtors

5

27,302

Cash at bank and in hand

 

6,587

 

33,889

Creditors: Amounts falling due within one year

6

(51,943)

Net current liabilities

 

(18,054)

Total assets less current liabilities

 

56,810

Creditors: Amounts falling due after more than one year

6

(20,723)

Net assets

 

36,087

Capital and reserves

 

Called up share capital

5

Retained earnings

36,082

Shareholders' funds

 

36,087

For the financial period ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 October 2023 and signed on its behalf by:
 

.........................................
Mr Andrew Charles Reynolds
Director

 

Concord Consult Limited

Notes to the Unaudited Financial Statements for the Period from 9 August 2022 to 31 August 2023

1

General information

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

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the Board on 13 October 2023.

The company registration number is 14286559

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Concord Consult Limited

Notes to the Unaudited Financial Statements for the Period from 9 August 2022 to 31 August 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

Computer equipment

3 years straight line

Fixture & fittings

3 years straight line

Motor vehicles

33% reducing balance

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. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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.

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.

 

Concord Consult Limited

Notes to the Unaudited Financial Statements for the Period from 9 August 2022 to 31 August 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

8,311

5,629

66,173

80,113

At 31 August 2023

8,311

5,629

66,173

80,113

Depreciation

Charge for the period

2,770

1,876

603

5,249

At 31 August 2023

2,770

1,876

603

5,249

Carrying amount

At 31 August 2023

5,541

3,753

65,570

74,864

5

Debtors

Current

2023
£

Trade debtors

18,960

Other debtors

8,342

 

27,302

 

Concord Consult Limited

Notes to the Unaudited Financial Statements for the Period from 9 August 2022 to 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

8

6,907

Taxation and social security

 

1,222

Accruals and deferred income

 

620

Other creditors

 

43,194

 

51,943

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

8

20,723

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £0.01 each

510

5.10

     

8

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

20,723

2023
£

Current loans and borrowings

Bank borrowings

6,907