Registered number
09666538
ISC Consultancy Limited
Filleted Accounts
31 July 2023
ISC Consultancy Limited
Registered number: 09666538
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 12,880 12,852
Current assets
Debtors 4 31,890 39,746
Cash at bank and in hand 1,374 2,301
33,264 42,047
Creditors: amounts falling due within one year 5 (10,522) (5,602)
Net current assets 22,742 36,445
Total assets less current liabilities 35,622 49,297
Creditors: amounts falling due after more than one year 6 (21,123) (26,612)
Net assets 14,499 22,685
Capital and reserves
Called up share capital 100 100
Profit and loss account 14,399 22,585
Shareholder's funds 14,499 22,685
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I R Strang
Director
Approved by the board on 18 April 2024
ISC Consultancy Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on cost
Motor vehicles 20% on cost
Computer Equipment 33% on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Computer Equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 August 2022 5,940 39,010 1,117 20,359 66,426
Additions - - 325 1,823 2,148
At 31 July 2023 5,940 39,010 1,442 22,182 68,574
Depreciation
At 1 August 2022 - 38,323 (708) 14,543 52,158
Charge for the year - 195 (309) 1,616 1,502
At 31 July 2023 - 38,518 (1,017) 16,159 53,660
Net book value
At 31 July 2023 5,940 492 425 6,023 12,880
At 31 July 2022 5,940 687 409 5,816 12,852
4 Debtors 2023 2022
£ £
Other debtors 31,890 39,746
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,903 3,456
Directors loan account 6,651 -
Taxation and social security costs 248 1,096
Other creditors 720 1,050
10,522 5,602
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,123 26,612
7 Other information
ISC Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Luna Farm
Twowatersfoot
Liskeard
Cornwall
PL14 6HX
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