Registered number
11453850
Phuong's Consultancy Limited
Unaudited Filleted Accounts
31 July 2023
API Partnership Limited t/a Chandler & Georges
Chartered Accountants
75 Westow Hill
Crystal Palace
London
SE19 1TX
Ph: 0208 761 2213
www.cgca.co.uk
Phuong's Consultancy Limited
Registered number: 11453850
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,344 2,355
Current assets
Stocks 48,648 89,995
Debtors 4 2,166 7,789
Cash at bank and in hand 92,196 55,849
143,010 153,633
Creditors: amounts falling due within one year 5 (25,985) (36,339)
Net current assets 117,025 117,294
Net assets 120,369 119,649
Capital and reserves
Called up share capital 10 10
Profit and loss account 120,359 119,639
Shareholder's funds 120,369 119,649
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 her 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.
Phuong Truong
Director
Approved by the board on 22 April 2024
Phuong's 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:
Fixtures, fittings, tools and equipment over 4 years
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.
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 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 4,244
Additions 2,800
At 31 July 2023 7,044
Depreciation
At 1 August 2022 1,889
Charge for the year 1,811
At 31 July 2023 3,700
Net book value
At 31 July 2023 3,344
At 31 July 2022 2,355
4 Debtors 2023 2022
£ £
Trade debtors 2,166 7,701
Other debtors - 88
2,166 7,789
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 330 88
Taxation and social security costs 15,151 13,558
Other creditors 10,504 22,693
25,985 36,339
6 Controlling party
The company is controlled by Phuong Truong who owns 100% shares of the company.
7 Other information
Phuong's Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
Phuong's Consultancy Limited 11453850 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2024 Phuong Truong No description of principal activity 11453850 2021-08-01 2022-07-31 11453850 core:WithinOneYear 2022-07-31 11453850 core:ShareCapital 2022-07-31 11453850 core:RetainedEarningsAccumulatedLosses 2022-07-31 11453850 2022-08-01 2023-07-31 11453850 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 11453850 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 11453850 bus:Director40 2022-08-01 2023-07-31 11453850 1 2022-08-01 2023-07-31 11453850 2 2022-08-01 2023-07-31 11453850 core:PlantMachinery 2022-08-01 2023-07-31 11453850 countries:England 2022-08-01 2023-07-31 11453850 bus:FRS102 2022-08-01 2023-07-31 11453850 bus:FilletedAccounts 2022-08-01 2023-07-31 11453850 2023-07-31 11453850 core:WithinOneYear 2023-07-31 11453850 core:ShareCapital 2023-07-31 11453850 core:RetainedEarningsAccumulatedLosses 2023-07-31 11453850 core:PlantMachinery 2023-07-31 11453850 2022-07-31 11453850 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure