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Registration number: 07780069

S.P. & M.L. Neal Consultancy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

S.P. & M.L. Neal Consultancy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

S.P. & M.L. Neal Consultancy Limited

Company Information

Directors

Mr S P Neal

Mrs M L Neal

Registered office

Cornerstone
Tresowes Green
Helston
Cornwall
TR13 9SY

Accountants

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

S.P. & M.L. Neal Consultancy Limited

(Registration number: 07780069)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

983

1,229

Current assets

 

Debtors

40,385

54,007

Cash at bank and in hand

 

685

174

 

41,070

54,181

Creditors: Amounts falling due within one year

(41,766)

(55,076)

Net current liabilities

 

(696)

(895)

Total assets less current liabilities

 

287

334

Provisions for liabilities

(187)

(234)

Net assets

 

100

100

Capital and reserves

 

Called up share capital

5

100

100

Shareholders' funds

 

100

100

For the financial 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.

Directors' 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 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 19 September 2023 and signed on its behalf by:
 

 

S.P. & M.L. Neal Consultancy Limited

(Registration number: 07780069)
Balance Sheet as at 31 March 2023

.........................................
Mr S P Neal
Director

.........................................
Mrs M L Neal
Director

 

S.P. & M.L. Neal Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Cornerstone
Tresowes Green
Helston
Cornwall
TR13 9SY

These financial statements were authorised for issue by the Board on 19 September 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.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in existence for the foreseeable future. The validity of this assumption relies on the continue support of the company's directors, who have confirmed that they will continue to support the company.

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.

 

S.P. & M.L. Neal Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Government grants

Grant revenue has been recognised in the profit & loss in the period in which it became receivable using the accrual model.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

20% NBV

 

S.P. & M.L. Neal Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

S.P. & M.L. Neal Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

2,500

2,400

4,900

At 31 March 2023

2,500

2,400

4,900

Depreciation

At 1 April 2022

2,500

1,171

3,671

Charge for the year

-

246

246

At 31 March 2023

2,500

1,417

3,917

Carrying amount

At 31 March 2023

-

983

983

At 31 March 2022

-

1,229

1,229

 

S.P. & M.L. Neal Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100