2022-01-012022-12-302022-12-30false06819776M & S CONSULTING (LONDON) 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M & S CONSULTING (LONDON) LIMITED

Registered Number
06819776
(England and Wales)

Unaudited Financial Statements for the Period ended
30 December 2022

M & S CONSULTING (LONDON) LIMITED
Company Information
for the period from 1 January 2022 to 30 December 2022

Directors

Mr S Blake
Mrs M Blake

Registered Address

3 Coldbath Square
London
EC1R 5HL

Registered Number

06819776 (England and Wales)
M & S CONSULTING (LONDON) LIMITED
Balance Sheet as at
30 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets53,5711,833
Investments6100-
3,6711,833
Current assets
Stocks1,880,0002,315,000
Debtors82,399,2702,067,362
Cash at bank and on hand71,15119,550
4,350,4214,401,912
Creditors amounts falling due within one year9(2,569,002)(2,682,296)
Net current assets (liabilities)1,781,4191,719,616
Total assets less current liabilities1,785,0901,721,449
Creditors amounts falling due after one year10(225,000)(456,000)
Net assets1,560,0901,265,449
Capital and reserves
Called up share capital3030
Other reserves2121
Profit and loss account1,560,0391,265,398
Shareholders' funds1,560,0901,265,449
The financial statements were approved and authorised for issue by the Board of Directors on 10 November 2023, and are signed on its behalf by:
Mr S Blake
Director
Registered Company No. 06819776
M & S CONSULTING (LONDON) LIMITED
Notes to the Financial Statements
for the period ended 30 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The financial statements report the financial results only of the company and are presented in Sterling (£).
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
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. 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. 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 all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Stocks policy
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Revenue recognition policy
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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisifed: • the company has transferred the significant risks and rewards of ownership to the buyer; • the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the company will receive the consideration due under the transaction; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. 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.
Taxation policy
The tax expense for the year comprises current 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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Valuation of financial instruments policy
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. 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the profit and loss account. Financial assets are derecognised when (i) the contractual rights to the cashflows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (iii) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Going concern
After making enquiries, the director has 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, the director continues to adopt the going concern basis in preparing the financial statements.
4.Employee information
The average number of employees include directors.

20222021
Average number of employees during the year22
5.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 221,9291,929
Additions4,7494,749
At 30 December 226,6786,678
Depreciation and impairment
At 01 January 229696
Charge for year3,0113,011
At 30 December 223,1073,107
Net book value
At 30 December 223,5713,571
At 31 December 211,8331,833
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions100100
At 30 December 22100100
Net book value
At 30 December 22100100
At 31 December 21--

Notes

1Investments in group undertakings and participating interests
7.Description of nature of transactions and balances with related parties
During the year the company paid expenses on behalf of the directors totalling £836,314 (2021: £519,119) and the directors made payments on behalf of the company totalling £554,137 (2021: £89,475). At the balance sheet date the company owed £486,190 (2021: £768,367) to the directors. At the balance sheet date the company owed a Trust of which the directors are trustees £301,853 (2021: £301,853).
8.Debtors

2022

2021

££
Other debtors2,353,2002,028,316
Prepayments and accrued income46,07039,046
Total2,399,2702,067,362
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables3,2105,400
Bank borrowings and overdrafts667,288657,025
Taxation and social security70,829130,666
Other creditors1,772,3971,847,127
Accrued liabilities and deferred income55,27842,078
Total2,569,0022,682,296
Bank borrowings are secured by properties held as stock by the company.
10.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts225,000456,000
Total225,000456,000
Bank borrowings are secured by properties held as stock by the company.