2022-10-012023-09-302023-09-30false13638402PRESTON IT CONSULTING 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PRESTON IT CONSULTING LTD

Registered Number
13638402
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

PRESTON IT CONSULTING LTD
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

AZOH, Harry

Registered Address

43 Ridge Way
Crayford
Dartford
DA1 3PF

Registered Number

13638402 (England and Wales)
PRESTON IT CONSULTING LTD
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets67571,185
7571,185
Current assets
Cash at bank and on hand622,153
622,153
Creditors amounts falling due within one year8(15,253)(2,387)
Net current assets (liabilities)(15,191)(234)
Total assets less current liabilities(14,434)951
Provisions for liabilities9(141)(141)
Net assets(14,575)810
Capital and reserves
Called up share capital11
Profit and loss account(14,576)809
Shareholders' funds(14,575)810
The financial statements were approved and authorised for issue by the Director on 23 November 2023, and are signed on its behalf by:
AZOH, Harry
Director
Registered Company No. 13638402
PRESTON IT CONSULTING LTD
Notes to the Financial Statements
for the year ended 30 September 2023

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.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year00
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 October 221,2861,286
At 30 September 231,2861,286
Depreciation and impairment
At 01 October 22101101
Charge for year428428
At 30 September 23529529
Net book value
At 30 September 23757757
At 30 September 221,1851,185
7.Directors advances, credits and guarantees
Other creditors include an amount of £14,653 (2022: £1,637 Cr) related to the directors' loan account Mr H Azoh.
8.Creditors within one year

2023

2022

££
Other creditors14,6531,637
Accrued liabilities and deferred income600750
Total15,2532,387
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)141141
Total141141