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Registration number: 07293744

Performance Edge Consulting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

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Performance Edge Consulting Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Performance Edge Consulting Ltd

Company Information

Directors

Mr Stephen Malcolm Ward

Mrs Mia Sabine Ward

Registered office

13 Simplicity Lane
New Hall
HARLOW
Essex
CM17 9JZ

Bankers

NatWest Bank plc
LONDON - Moorgate

Accountants

A Ferguson Associates Ltd
Accountants and Business Advisors
Alum House
5 Alum Chine Road
Bournemouth
Dorset
BH4 8DT

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Performance Edge Consulting Ltd
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Performance Edge Consulting Ltd for the year ended 30 June 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Technicians we are subject to its ethical and other professional requirements which are detailed at www.aat.org.uk.

This report is made solely to the Board of Directors of Performance Edge Consulting Ltd, as a body, in accordance with the terms of our engagement letter dated 31 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of Performance Edge Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of Performance Edge Consulting Ltd, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Performance Edge Consulting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Performance Edge Consulting Ltd 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 Performance Edge Consulting Ltd. You consider that Performance Edge Consulting Ltd 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 Performance Edge Consulting Ltd. 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.

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

A Ferguson Associates Ltd
Accountants and Business Advisors
Alum House
5 Alum Chine Road
Bournemouth
Dorset
BH4 8DT

1 March 2024

 

Performance Edge Consulting Ltd

(Registration number: 07293744)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,953

13,535

Current assets

 

Debtors

5

20,181

20,870

Cash at bank and in hand

 

86,535

82,684

 

106,716

103,554

Creditors: Amounts falling due within one year

6

(28,436)

(22,996)

Net current assets

 

78,280

80,558

Total assets less current liabilities

 

91,233

94,093

Provisions for liabilities

(2,312)

(2,320)

Net assets

 

88,921

91,773

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

88,821

91,673

Shareholders' funds

 

88,921

91,773

For the financial year ending 30 June 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 March 2024 and signed on its behalf by:
 

 

Performance Edge Consulting Ltd

(Registration number: 07293744)
Balance Sheet as at 30 June 2023

.........................................
Mr Stephen Malcolm Ward
Director

.........................................
Mrs Mia Sabine Ward
Director

 
     
 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
13 Simplicity Lane
New Hall
HARLOW
Essex
CM17 9JZ
England

These financial statements were authorised for issue by the Board on 1 March 2024.

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.

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.

 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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

Office equipment

25% reducing balance

Training equipment

25% reducing balance

Land and buildings

2% straight line

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.

 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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.

 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

8,840

12,373

11,428

32,641

Additions

-

1,134

-

1,134

At 30 June 2023

8,840

13,507

11,428

33,775

Depreciation

At 1 July 2022

354

9,211

9,541

19,106

Charge for the year

170

1,074

472

1,716

At 30 June 2023

524

10,285

10,013

20,822

Carrying amount

At 30 June 2023

8,316

3,222

1,415

12,953

At 30 June 2022

8,486

3,162

1,887

13,535

Included within the net book value of land and buildings above is £8,316 (2022 - £8,486) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Debtors

2023
£

2022
£

Trade debtors

19,190

20,054

Prepayments

991

816

20,181

20,870

 

Performance Edge Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans, other loans and overdrafts

8

1,125

1,374

Taxation and social security

 

6,732

6,130

Accruals and deferred income

 

4,023

3,810

Other creditors

 

16,556

11,682

 

28,436

22,996

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

1,125

1,374