Company registration number 10768372 (England and Wales)
STOURVALE CONSULTANCY LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
STOURVALE CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
STOURVALE CONSULTANCY LIMITED
BALANCE SHEET
- 1 -
30 June 2023
30 April 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,339
2,162
Investments
4
47
47
2,386
2,209
Current assets
Debtors
5
55,294
23,576
Cash at bank and in hand
29,269
55,294
52,845
Creditors: amounts falling due within one year
6
(30,777)
(22,596)
Net current assets
24,517
30,249
Total assets less current liabilities
26,903
32,458
Creditors: amounts falling due after more than one year
7
(26,296)
(31,482)
Net assets
607
976
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
605
974
Total equity
607
976
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 period ended 30 June 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 period 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.
STOURVALE CONSULTANCY LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 22 November 2023
Mr I Williams
Director
Company registration number 10768372 (England and Wales)
STOURVALE CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Stourvale Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 29 Solent Road, Bournemouth, Dorset, BH6 4BP.
1.1
Reporting period
The reporting period has been extended to 30 June 2023 to align with related companies. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
Computers
33.33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
STOURVALE CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.6
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 May 2022
2,129
1,528
3,657
Additions
849
849
At 30 June 2023
2,129
2,377
4,506
Depreciation and impairment
At 1 May 2022
319
1,176
1,495
Depreciation charged in the period
272
400
672
At 30 June 2023
591
1,576
2,167
Carrying amount
At 30 June 2023
1,538
801
2,339
At 30 April 2022
1,810
352
2,162
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
47
47
STOURVALE CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
55,294
23,576
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
12,623
4,444
Other creditors
18,154
18,152
30,777
22,596
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,296
31,482
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
8,518
13,704
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors loan
-
11,852
298,008
(279,366)
30,494
11,852
298,008
(279,366)
30,494
The above loan was interest free and has no fixed repayment date.