Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truetrue2022-04-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09637763 2022-04-01 2023-03-31 09637763 2021-04-01 2022-03-31 09637763 2023-03-31 09637763 2022-03-31 09637763 c:Director1 2022-04-01 2023-03-31 09637763 c:Director2 2022-04-01 2023-03-31 09637763 c:RegisteredOffice 2022-04-01 2023-03-31 09637763 d:FurnitureFittings 2022-04-01 2023-03-31 09637763 d:FurnitureFittings 2023-03-31 09637763 d:FurnitureFittings 2022-03-31 09637763 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09637763 d:ComputerEquipment 2022-04-01 2023-03-31 09637763 d:ComputerEquipment 2023-03-31 09637763 d:ComputerEquipment 2022-03-31 09637763 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09637763 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09637763 d:CurrentFinancialInstruments 2023-03-31 09637763 d:CurrentFinancialInstruments 2022-03-31 09637763 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09637763 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09637763 d:ShareCapital 2023-03-31 09637763 d:ShareCapital 2022-03-31 09637763 d:RetainedEarningsAccumulatedLosses 2023-03-31 09637763 d:RetainedEarningsAccumulatedLosses 2022-03-31 09637763 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09637763 c:OrdinaryShareClass1 2023-03-31 09637763 c:OrdinaryShareClass1 2022-03-31 09637763 c:FRS102 2022-04-01 2023-03-31 09637763 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09637763 c:FullAccounts 2022-04-01 2023-03-31 09637763 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09637763 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 09637763












MICHAEL JOSEPH CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 

MICHAEL JOSEPH CONSULTING LIMITED

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 8


 

MICHAEL JOSEPH CONSULTING LIMITED
 
COMPANY INFORMATION


Directors
M J Trippitt 
A G Arkwright 




Registered number
09637763



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:09637763
MICHAEL JOSEPH CONSULTING LIMITED

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
663
1,197

Current assets
  

Debtors: amounts falling due within one year
 5 
23,776
17,628

Cash at bank and in hand
  
11,733
100,147

  
35,509
117,775

Creditors: amounts falling due within one year
 6 
(15,590)
(26,473)

Net current assets
  
 
 
19,919
 
 
91,302

Net assets
  
20,582
92,499


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
20,482
92,399

Total equity
  
20,582
92,499


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Trippitt
Director

Date: 23 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Michael Joseph Consulting Limited is a private company limited by shares and registered in England and Wales. The company’s registered number is 09637763 and its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in GBP (£). Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.6

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
The Company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any
impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


 
Page 5

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

Financial instruments (continued)
Impairment of financial assets (continued)
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.8

Share capital

Ordinary shares are classified as equity. 

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.10

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Page 6

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 April 2022
598
6,644
7,242



At 31 March 2023

598
6,644
7,242



Depreciation


At 1 April 2022
598
5,447
6,045


Charge for the year on owned assets
-
534
534



At 31 March 2023

598
5,981
6,579



Net book value



At 31 March 2023
-
663
663



At 31 March 2022
-
1,197
1,197


5.


Debtors

2023
2022
£
£


Trade debtors
23,070
16,320

Prepayments and accrued income
706
1,308

23,776
17,628


Page 7

 

MICHAEL JOSEPH CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
703

Corporation tax
7,489
16,495

Other taxation and social security
3,674
4,898

Other creditors
927
927

Accruals and deferred income
3,500
3,450

15,590
26,473



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 -100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

During the year, dividends of £103,671 (2022: £148,204) were declared to directors and payments of £103,671 (2022: £148,204) were made to directors. At the balance sheet date, the company owed its directors £927 (2022: £927). These amounts are included within other creditors and are unsecured, interest free and repayable on demand.

 
Page 8