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Registered number: 08536848
D Brealey Consultants Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 08536848
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 537 384
537 384
CURRENT ASSETS
Cash at bank and in hand 35,190 30,215
35,190 30,215
Creditors: Amounts Falling Due Within One Year 6 (24,982 ) (29,689 )
NET CURRENT ASSETS (LIABILITIES) 10,208 526
TOTAL ASSETS LESS CURRENT LIABILITIES 10,745 910
Creditors: Amounts Falling Due After More Than One Year 7 (5,497 ) -
NET ASSETS 5,248 910
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 5,148 810
SHAREHOLDERS' FUNDS 5,248 910
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
D Brealey
Director
18th April 2024
The notes on pages 4 to 5 form part of these financial statements.
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Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 August 2021 100 568 668
Profit for the year and total comprehensive income - 70,414 70,414
Dividends paid - (70,172) (70,172)
As at 31 July 2022 and 1 August 2022 100 810 910
Profit for the year and total comprehensive income - 80,627 80,627
Dividends paid - (76,289) (76,289)
As at 31 July 2023 100 5,148 5,248
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Notes to the Financial Statements
1. General Information
D Brealey Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08536848 . The registered office is Carpe Diem Mount Pleasant, Greenodd, Ulveston, LA12 7RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% of cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2022 1,860 - 1,860
Additions - 373 373
As at 31 July 2023 1,860 373 2,233
Depreciation
As at 1 August 2022 1,476 - 1,476
Provided during the period 96 124 220
As at 31 July 2023 1,572 124 1,696
Net Book Value
As at 31 July 2023 288 249 537
As at 1 August 2022 384 - 384
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 2,750 11,500
Corporation tax 20,676 16,620
Other taxes and social security 92 92
Other creditors 1,464 1,477
24,982 29,689
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 5,497 -
5,497 -
8. Related Party Transactions
During the year dividends of £76,289 (2022: £70,172) were paid to the director.
9. Ultimate Controlling Party
The company's ultimate controlling party is D Brealey by virtue of his ownership of the issued share capital in the company.
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