1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,230 552 1,098 3,684 2,533 439 940 2,032 1,652 1,697 xbrli:pure xbrli:shares iso4217:GBP 08561465 2022-07-01 2023-06-30 08561465 2023-06-30 08561465 2022-06-30 08561465 2021-07-01 2022-06-30 08561465 2022-06-30 08561465 2021-06-30 08561465 core:FurnitureFittings 2022-07-01 2023-06-30 08561465 bus:Director1 2022-07-01 2023-06-30 08561465 core:FurnitureFittings 2022-06-30 08561465 core:FurnitureFittings 2023-06-30 08561465 core:WithinOneYear 2023-06-30 08561465 core:WithinOneYear 2022-06-30 08561465 core:ShareCapital 2023-06-30 08561465 core:ShareCapital 2022-06-30 08561465 core:RetainedEarningsAccumulatedLosses 2023-06-30 08561465 core:RetainedEarningsAccumulatedLosses 2022-06-30 08561465 core:FurnitureFittings 2022-06-30 08561465 bus:SmallEntities 2022-07-01 2023-06-30 08561465 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 08561465 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 08561465 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08561465 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 08561465
MARK REYNOLDS CONSULTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2023
MARK REYNOLDS CONSULTING LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,652
1,697
CURRENT ASSETS
Work in progress
1,080
Debtors
6
477
2,951
Cash at bank and in hand
315,194
335,130
----------
----------
315,671
339,161
CREDITORS: amounts falling due within one year
7
49,554
69,639
----------
----------
NET CURRENT ASSETS
266,117
269,522
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
267,769
271,219
PROVISIONS
Taxation including deferred tax
295
----------
----------
NET ASSETS
267,769
270,924
----------
----------
MARK REYNOLDS CONSULTING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
267,669
270,824
----------
----------
SHAREHOLDERS FUNDS
267,769
270,924
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 March 2024 , and are signed on behalf of the board by:
Mr M Reynolds
Director
Company registration number: 08561465
MARK REYNOLDS CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 54 Scriven Road, Knaresborough, North Yorkshire, HG5 9EJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% reducing balance
(g) Work in progess
Work in progress is measured at the lower of cost and net realisable value.
(h) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(i) Financial instruments
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 entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022
4,230
4,230
Additions
552
552
Disposals
( 1,098)
( 1,098)
-------
-------
At 30 June 2023
3,684
3,684
-------
-------
Depreciation
At 1 July 2022
2,533
2,533
Charge for the year
439
439
Disposals
( 940)
( 940)
-------
-------
At 30 June 2023
2,032
2,032
-------
-------
Carrying amount
At 30 June 2023
1,652
1,652
-------
-------
At 30 June 2022
1,697
1,697
-------
-------
6. DEBTORS
2023
2022
£
£
Trade debtors
2,484
Other debtors
477
467
----
-------
477
2,951
----
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,720
Social security and other taxes
601
3,213
Other creditors
48,953
61,706
--------
--------
49,554
69,639
--------
--------