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Registration number: 09452434

Pearson Consult Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Pearson Consult Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Pearson Consult Ltd

Company Information

Director

Mr Philip Pearson

Registered office

Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

Pearson Consult Ltd

(Registration number: 09452434)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,609

1,030

Current assets

 

Debtors

24,364

33,804

Cash at bank and in hand

 

4,490

3,342

 

28,854

37,146

Creditors: Amounts falling due within one year

(20,398)

(32,059)

Net current assets

 

8,456

5,087

Total assets less current liabilities

 

10,065

6,117

Creditors: Amounts falling due after more than one year

(8,980)

(3,881)

Net assets

 

1,085

2,236

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

985

2,136

Shareholders' funds

 

1,085

2,236

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 February 2024
 

.........................................
Mr Philip Pearson
Director

 

Pearson Consult Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA
England

These financial statements were authorised for issue by the director on 12 February 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Pearson Consult Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet 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

Computer equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Pearson Consult Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 3).

 

Pearson Consult Ltd

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

2,626

2,626

Additions

934

934

At 31 March 2023

3,560

3,560

Depreciation

At 1 April 2022

1,596

1,596

Charge for the year

355

355

At 31 March 2023

1,951

1,951

Carrying amount

At 31 March 2023

1,609

1,609

At 31 March 2022

1,030

1,030

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,980

3,881

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,983

12,963

 

Pearson Consult Ltd

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

7

Dividends

   

2023

 

2022

   

£

 

£

Final dividend of £150.00 (2022 - £260.00) per ordinary share

 

15,000

 

26,000

         

8

Related party transactions

 

Pearson Consult Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

1,200

3,831

Dividends paid to the director

   

2023
£

 

2022
£

Mr Philip Pearson

       

Paid

 

15,000

 

26,000

         

Loans to related parties

2023

Key management
£

Total
£

At start of period

15,006

15,006

Advanced

726

726

Repaid

(15,000)

(15,000)

At end of period

732

732

2022

Key management
£

Total
£

At start of period

28,479

28,479

Advanced

12,527

12,527

Repaid

(26,000)

(26,000)

At end of period

15,006

15,006