Company registration number 8620298 (England and Wales)
A F H Consultancy Limited
Unaudited Financial Statements
For the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
A F H Consultancy Limited
Contents
Page
Company information
Balance sheet
1
Notes to the financial statements
2 - 3
A F H Consultancy Limited
Balance sheet
For the year ended 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
143,771
98,350
Cash at bank and in hand
39,957
30,962
183,728
129,312
Creditors: amounts falling due within one year
4
(36,613)
(33,103)
Net current assets
147,115
96,209
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
147,015
96,109
Total equity
147,115
96,209
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 April 2024
Mr A F Hassan
Director
Company registration number 8620298 (England and Wales)
A F H Consultancy Limited
Notes to the Financial Statements
For the year ended 31 July 2023
- 2 -
1
Accounting policies
Company information
A F H Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
1.4
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
A F H Consultancy Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
61,571
20,400
Other debtors
82,200
77,950
143,771
98,350
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
234
309
Taxation and social security
31,470
31,153
Other creditors
4,909
1,641
36,613
33,103