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Moneta Consultancy Limited

Registration number : 07734054



















Annual Report and Unaudited Financial Statements

for the year ended 31 August 2023

 

Moneta Consultancy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Moneta Consultancy Limited

Company Information

Director

Mr Stephen John Cummings

Registered office

97 Templecombe Drive
Bolton
Greater Manchester
BL1 7TA

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Moneta Consultancy Limited

(Registration number: 07734054)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

4,166

4,056

Current assets

 

Debtors

6

148,301

228,056

Cash at bank and in hand

 

232,042

209,008

 

380,343

437,064

Creditors: Amounts falling due within one year

7

(77,662)

(122,230)

Net current assets

 

302,681

314,834

Total assets less current liabilities

 

306,847

318,890

Provisions for liabilities

(771)

(771)

Net assets

 

306,076

318,119

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

305,976

318,019

Total equity

 

306,076

318,119

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 December 2023
 

.........................................
Mr Stephen John Cummings
Director

   
     
 

Moneta Consultancy Limited

Notes to the Unaudited Financial Statements for the year ended 31 August 2023

1

General information

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

The address of its registered office is:
97 Templecombe Drive
Bolton
Greater Manchester
BL1 7TA

These financial statements were authorised for issue by the director on 22 December 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.

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.

Government grants

Government grants relating to the Coronavirus Job Retention Scheme are recognised as income in the period in which it becomes receivable under the performance model.

Tax

The tax expense for the period comprises current 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.

 

Moneta Consultancy Limited

Notes to the Unaudited Financial Statements for the year ended 31 August 2023

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise costs

straight line over 10 years

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.

 

Moneta Consultancy Limited

Notes to the Unaudited Financial Statements for the year ended 31 August 2023

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.

3

Staff numbers

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2022

20,000

20,000

At 31 August 2023

20,000

20,000

Amortisation

At 1 September 2022

20,000

20,000

At 31 August 2023

20,000

20,000

Carrying amount

At 31 August 2023

-

-

 

Moneta Consultancy Limited

Notes to the Unaudited Financial Statements for the year ended 31 August 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

14,638

14,638

Additions

1,500

1,500

At 31 August 2023

16,138

16,138

Depreciation

At 1 September 2022

10,582

10,582

Charge for the year

1,390

1,390

At 31 August 2023

11,972

11,972

Carrying amount

At 31 August 2023

4,166

4,166

At 31 August 2022

4,056

4,056

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

32,348

113,572

Amounts owed by related parties

98,953

97,484

Other debtors

 

17,000

17,000

 

148,301

228,056

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

26,653

56,832

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

403

Taxation and social security

 

30,033

39,698

Other creditors

 

20,976

25,297

 

77,662

122,230