Lee White Consulting Limited 04714338 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is consultant Digita Accounts Production Advanced 6.30.9574.0 Software true true 04714338 2022-08-01 2023-07-31 04714338 2023-07-31 04714338 bus:OrdinaryShareClass1 2023-07-31 04714338 core:RetainedEarningsAccumulatedLosses 2023-07-31 04714338 core:ShareCapital 2023-07-31 04714338 core:CurrentFinancialInstruments 2023-07-31 04714338 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 04714338 core:OfficeEquipment 2023-07-31 04714338 bus:SmallEntities 2022-08-01 2023-07-31 04714338 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 04714338 bus:FullAccounts 2022-08-01 2023-07-31 04714338 bus:RegisteredOffice 2022-08-01 2023-07-31 04714338 bus:Director1 2022-08-01 2023-07-31 04714338 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 04714338 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04714338 core:OfficeEquipment 2022-08-01 2023-07-31 04714338 core:OtherRelatedParties 2022-08-01 2023-07-31 04714338 countries:AllCountries 2022-08-01 2023-07-31 04714338 2022-07-31 04714338 core:OfficeEquipment 2022-07-31 04714338 2021-08-01 2022-07-31 04714338 2022-07-31 04714338 bus:OrdinaryShareClass1 2022-07-31 04714338 core:RetainedEarningsAccumulatedLosses 2022-07-31 04714338 core:ShareCapital 2022-07-31 04714338 core:CurrentFinancialInstruments 2022-07-31 04714338 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 04714338 core:OfficeEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 04714338

Lee White Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Lee White Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Lee White Consulting Limited

Company Information

Director

Mr Lee White

Registered office

Watchmakers Cottage
3 High Street
Narberth
Pembrokeshire
SA67 7AR

 

Lee White Consulting Limited

(Registration number: 04714338)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

2,565

455

Current assets

 

Debtors

6

12,508

25,647

Cash at bank and in hand

 

66,370

42,954

 

78,878

68,601

Creditors: Amounts falling due within one year

7

(65,298)

(63,029)

Net current assets

 

13,580

5,572

Total assets less current liabilities

 

16,145

6,027

Provisions for liabilities

(487)

(86)

Net assets

 

15,658

5,941

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

15,656

5,939

Total equity

 

15,658

5,941

For the financial year ending 31 July 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 March 2024
 

.........................................
Mr Lee White
Director

   
     
 

Lee White Consulting Limited

Notes to the Financial Statements for the Year Ended 31 July 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:
Watchmakers Cottage
3 High Street
Narberth
Pembrokeshire
SA67 7AR

These financial statements were authorised for issue by the director on 15 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Lee White Consulting Limited

Notes to the Financial Statements for the Year Ended 31 July 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

15% Reducing balance

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.

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.

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.

 

Lee White Consulting Limited

Notes to the Financial Statements for the Year Ended 31 July 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

453

3,096

Impairment reversal

(2,563)

-

 

Lee White Consulting Limited

Notes to the Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

20,636

20,636

At 31 July 2023

20,636

20,636

Depreciation

At 1 August 2022

20,181

20,181

Charge for the year

452

452

Impairment

(2,562)

(2,562)

At 31 July 2023

18,071

18,071

Carrying amount

At 31 July 2023

2,565

2,565

At 31 July 2022

455

455

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

876

4,397

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

9

11,500

21,250

Other debtors

 

132

-

 

12,508

25,647

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

-

2,310

Other related parties

 

48,791

48,480

Corporation tax liability

 

14,675

9,675

Other creditors

 

1,832

2,564

 

65,298

63,029

 

Lee White Consulting Limited

Notes to the Financial Statements for the Year Ended 31 July 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Related party transactions

Summary of transactions with other related parties

Whites Boutique Ltd is considered to be a related party of Lee White Consulting Ltd by virtue of a common director.

As at the balance sheet date Whites Boutique Ltd owed the entity £11,500 (2022: £21,250)