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Registered number: 07804250










LEADENHALL CONSULTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LEADENHALL CONSULTING LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEADENHALL CONSULTING LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leadenhall Consulting Limited for the year ended 31 December 2023 which comprise the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Leadenhall Consulting Limited, as a body, in accordance with the terms of our engagement letter dated 14th July 2014Our work has been undertaken solely to prepare for your approval the financial statements of Leadenhall Consulting Limited and state those matters that we have agreed to state to the Board of directors of Leadenhall Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leadenhall Consulting Limited and its Board of directors, as a body, for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Leadenhall 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 financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff On Sea
Essex
SS0 9PE
28 March 2024
Page 1

 
LEADENHALL CONSULTING LIMITED
REGISTERED NUMBER: 07804250

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,778
3,150

  
2,778
3,150

Current assets
  

Debtors: amounts falling due within one year
 6 
93,034
60,560

Cash at bank and in hand
 7 
16,782
11,640

  
109,816
72,200

Creditors: amounts falling due within one year
 8 
(132,995)
(74,125)

Net current liabilities
  
 
 
(23,179)
 
 
(1,925)

Total assets less current liabilities
  
(20,401)
1,225

Creditors: amounts falling due after more than one year
 9 
(42,978)
(55,203)

Provisions for liabilities
  

Deferred tax
  
(670)
(599)

  
 
 
(670)
 
 
(599)

Net liabilities
  
(64,049)
(54,577)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(64,149)
(54,677)

  
(64,049)
(54,577)


Page 2

 
LEADENHALL CONSULTING LIMITED
REGISTERED NUMBER: 07804250

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2024.









C Woodman
D Farrant
Director
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private company, limited by shares and incorporated in England. Its registered office is Kingsridge House, 601 London Road, Westcliff-on-Sea, Essex, SS0 9PE. Its registered number is 07804250.Its principal place of business is The Leadenhall BUilding, 122 Leadenhall St, London, EC3V 4AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

There was a net deficiency of assets of £82,891 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
20% straight line
Computer equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
54,984
42,618

Social security costs
(1,449)
2,195

Cost of defined contribution scheme
915
354

54,450
45,167


The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Dividends

2023
2022
£
£


Dividends paid
35,200
55,000

35,200
55,000


5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
1,029
11,676
12,705


Additions
150
1,266
1,416



At 31 December 2023

1,179
12,942
14,121



Depreciation


At 1 January 2023
1,020
8,535
9,555


Charge for the year on owned assets
27
1,761
1,788



At 31 December 2023

1,047
10,296
11,343



Net book value



At 31 December 2023
132
2,646
2,778



At 31 December 2022
9
3,141
3,150

Page 7

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
89,254
53,201

Other debtors
3,780
7,359

93,034
60,560



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
16,782
11,640

16,782
11,640



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
12,224
11,868

Trade creditors
64,627
39,966

Corporation tax
6,798
-

Other taxation and social security
29,669
18,914

Other creditors
16,952
1,167

Accruals and deferred income
2,725
2,210

132,995
74,125



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,063
46,288

Other loans
8,915
8,915

42,978
55,203


Page 8

 
LEADENHALL CONSULTING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
12,224
11,868


12,224
11,868

Amounts falling due 1-2 years

Bank loans
12,601
12,223

Other loans
8,915
8,915


21,516
21,138

Amounts falling due 2-5 years

Bank loans
21,463
29,526


21,463
29,526

Amounts falling due after more than 5 years

Bank loans
-
4,537

-
4,537

55,203
67,069



11.


Pension commitments


Page 9