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Registration number: 02027005

Cole Easdon Consultants Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Cole Easdon Consultants Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Cole Easdon Consultants Limited

(Registration number: 02027005)
Statement of Financial Position as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

222,651

240,288

Current assets

 

Debtors

5

470,160

463,705

Cash at bank and in hand

 

232,246

127,948

 

702,406

591,653

Creditors: Amounts falling due within one year

6

(357,436)

(278,045)

Net current assets

 

344,970

313,608

Total assets less current liabilities

 

567,621

553,896

Provisions for liabilities

(8,163)

(8,290)

Net assets

 

559,458

545,606

Capital and reserves

 

Called up share capital

10,000

10,000

Share premium reserve

11,567

11,567

Capital redemption reserve

3,042

3,042

Profit and loss account

534,849

520,997

Shareholders' funds

 

559,458

545,606

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.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Income Statement has been taken.

 

Cole Easdon Consultants Limited

(Registration number: 02027005)
Statement of Financial Position as at 31 July 2023

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................

Mr J B Farmery
Director

 

Cole Easdon Consultants Limited

Notes to the Unaudited 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: Unit 2, York House, Edison Park, Dorcan Way, Swindon, Wiltshire, SN3 3RB.

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.

The financial statements are prepares in sterling, which is the functional currency of the entity.

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.

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.

 

Cole Easdon Consultants Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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

Fittings, fixtures and equipment

25% reducing balance

Land and buildings

Freehold land is not depreciated, Freehold buildings are depreciated over 30 years.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, and trade and other creditors.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2022 - 29).

 

Cole Easdon Consultants Limited

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

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2022

243,279

175,915

419,194

Disposals

-

(142)

(142)

At 31 July 2023

243,279

175,773

419,052

Depreciation

At 1 August 2022

46,620

132,342

178,962

Charge for the year

6,660

10,912

17,572

Eliminated on disposal

-

(133)

(133)

At 31 July 2023

53,280

143,121

196,401

Carrying amount

At 31 July 2023

189,999

32,652

222,651

At 31 July 2022

196,659

43,629

240,288

5

Debtors

2023
£

2022
£

Trade debtors

237,958

213,066

Prepayments

102,475

104,526

Other debtors

129,727

146,113

470,160

463,705

 

Cole Easdon Consultants Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

22,520

19,067

Taxation and social security

103,460

93,022

Accruals and deferred income

154,890

93,191

Other creditors

76,566

72,765

357,436

278,045

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £23,303 (2022 - £34,470).