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Registration number: 12361404

Pelion Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

image-name
 

Pelion Consulting Limited

Contents

Company Information

1

Accountants' Report

2

Profit and Loss Account

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 11

 

Pelion Consulting Limited

Company Information

Registered office

Old Coach House
Willow Park
Kings Lynn
Norfolk
PE30 3BP

Directors

Mr Richard Hodder

Campbell Douglas

Bankers

Revolut Bank
London

Accountants

Breaking the Mould Accounting Limited
Apartment 6 Reef House
Havelet Waters
South Esplanade
Saint Peter Port
Saint Peter Port
GY1 1BJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pelion Consulting Limited
for the Year Ended 31 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pelion Consulting Limited for the year ended 31 December 2022 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Pelion Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pelion Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Pelion Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pelion Consulting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pelion Consulting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pelion Consulting Limited. You consider that Pelion Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pelion Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Breaking the Mould Accounting Limited
Apartment 6 Reef House
Havelet Waters
South Esplanade
Saint Peter Port
Saint Peter Port
GY1 1BJ

30 September 2023

 

Pelion Consulting Limited

Profit and Loss Account for the Year Ended 31 December 2022

Note

2022
£

2021
£

Turnover

3

62,444

101,736

Cost of sales

 

(6,401)

(39,536)

Gross profit

 

56,043

62,200

Administrative expenses

 

(47,771)

(64,780)

Operating profit/(loss)

4

8,272

(2,580)

Profit/(loss) before tax

 

8,272

(2,580)

Tax on profit/(loss)

7

(1,669)

-

Profit/(loss) for the financial year

 

6,603

(2,580)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Pelion Consulting Limited

(Registration number: 12361404)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

8

2,462

2,801

Current assets

 

Debtors

9

6,461

9,608

Cash at bank and in hand

 

288

470

 

6,749

10,078

Creditors: Amounts falling due within one year

11

(11,865)

(21,861)

Net current liabilities

 

(5,116)

(11,783)

Total assets less current liabilities

 

(2,654)

(8,982)

Creditors: Amounts falling due after more than one year

11

275

-

Net liabilities

 

(2,379)

(8,982)

Capital and reserves

 

Called up share capital

4

4

Retained earnings

(2,383)

(8,986)

Shareholders' deficit

 

(2,379)

(8,982)

For the financial year ending 31 December 2022 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.

Approved and authorised by the Board on 30 September 2023 and signed on its behalf by:
 

.........................................
Mr Richard Hodder
Director

 

Pelion Consulting Limited

Statement of Changes in Equity for the Year Ended 31 December 2022

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

4

(8,986)

(8,982)

Profit for the year

-

6,603

6,603

At 31 December 2022

4

(2,383)

(2,379)

Share capital
£

Retained earnings
£

Total
£

At 1 January 2021

-

(6,406)

(6,406)

Loss for the year

-

(2,580)

(2,580)

New share capital subscribed

4

-

4

At 31 December 2021

4

(8,986)

(8,982)

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The address of its registered office is:
Old Coach House
Willow Park
Kings Lynn
Norfolk
PE30 3BP
United Kingdom

These financial statements were authorised for issue by the Board on 30 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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.

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.

Tax

The tax expense for the period comprises 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.

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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:

Computer Equipment : 33% Reducing balance method
Office Equipment : 20% Reducing balance method

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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.

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

2022
£

2021
£

Sale of goods

62,444

101,736

4

Operating profit/(loss)

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

762

1,197

5

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

2022
£

2021
£

Wages and salaries

-

35,641

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2022
No.

2021
No.

Administration and support

2

2

2

2

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

6

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

-

35,641

7

Taxation

Tax charged/(credited) in the profit and loss account

2022
£

2021
£

Deferred taxation

Arising from origination and reversal of timing differences

1,669

-

Deferred tax

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

8

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2022

2,234

2,255

4,489

Additions

422

-

422

At 31 December 2022

2,656

2,255

4,911

Depreciation

At 1 January 2022

1,236

452

1,688

Charge for the year

401

360

761

At 31 December 2022

1,637

812

2,449

Carrying amount

At 31 December 2022

1,019

1,443

2,462

At 31 December 2021

998

1,803

2,801

9

Debtors

Current

Note

2022
£

2021
£

Other debtors

 

6,404

-

Prepayments

 

-

7,882

Deferred tax assets

7

57

1,726

10

Cash and cash equivalents

2022
£

2021
£

Cash at bank

288

470

11

Creditors

 

Pelion Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

1,989

950

Amounts due to related parties

-

11,512

Social security and other taxes

 

2,578

2,101

Other payables

 

6,298

6,298

Accruals

 

1,000

1,000

 

11,865

21,861

Due after one year

 

Loans and borrowings

13

(275)

-

12

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Share of £1 each

4

4

4

4

         

13

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

(275)

-