Buchanan Management Consultants Ltd |
Registered Number:07006011 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
Buchanan Management Consultants Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Buchanan Management Consultants Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
640
1,775
2
640
1,775
Trade and other receivables |
8,245
9,939
3
315
Cash and cash equivalents |
-
9,939
8,560
Trade and other payables: amounts falling due within one |
year |
(8,379)
(10,555)
4
181
(616)
Net current liabilities
Total assets less current liabilities |
24
1,956
Trade and other payables: amounts falling due after more |
than one year |
(14,874)
(14,115)
5
(14,091)
Net liabilities
(12,918)
100
100
(14,191)
(13,018)
(14,091)
(12,918)
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Michael Martin Willis Director |
These financial statements were approved and authorised for issue by the Board on 08 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
Buchanan Management Consultants Ltd
Notes to the Financial Statements
Statutory Information
Buchanan Management Consultants Ltd is a private limited company, limited by shares, domiciled in England and |
Wales, registration number 07006011. |
18 Buchanan Close
Northampton
Northamptonshire
NN4 8RA
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. |
The financial statements have been prepared under the historical costs convention as modified by the revaluation of |
certain assets. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives. |
Plant and Machinery
Computer Equipment
Furniture and Fittings
Government grants
Government grants received in relation to the novel coronavirus (COVID-19) are credited to income when the amounts due are known and become receivable. Grants received under the Government Job Retention Scheme are recognised as income in the period in which the company recognises the related cost. |
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For the year ended 31 March 2023
Buchanan Management Consultants Ltd
Notes to the Financial Statements Continued
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other |
Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in |
the financial statements, when there is a legally 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. |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price |
including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are |
not amortised. |
Classification of Financial Liabilities |
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. |
Basic Financial Liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares |
that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade |
creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business |
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, |
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and |
subsequently measured at amortised cost using the effective interest method. |
Going Concern
The financial statements have been prepared on the going concern basis which assumes the continued support of |
the director. The director has confirmed there is no reason why this support will not be forthcoming. |
2. Property, plant and equipment |
17,932
14,314
1,368
2,250
2,250
1,368
14,314
17,932
Provision for depreciation and impairment |
16,157
13,829
1,168
1,160
Charge for year
1,135
485
200
450
17,292
14,314
1,368
1,610
640
-
-
640
1,090
200
485
1,775
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For the year ended 31 March 2023
Buchanan Management Consultants Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables |
2022
2023
9,939
8,245
4. Trade and other payables: amounts falling due within one year |
2022
2023
2,911
3,324
979
-
Taxation and social security |
212
475
6,453
4,580
10,555
8,379
5. Trade and other payables: amounts falling due after more than one year |
2022
2023
14,115
14,874
The director undertakes that no further distributions will be made until there are sufficient reserves available for that |
purpose. |
7. Average number of persons employed |
During the year the average number of employees was 1 (2022 : 1)
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