Company registration number 10213959 (England and Wales)
GRAHAM SMITH CONSULTING LIMITED
Unaudited Financial Statements
For The Year Ended 30 June 2023
Pages For Filing With Registrar
Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Company Information
Director
Mr G C H Smith
Company number
10213959
Registered office
C/O Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Accountants
Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Business address
5 Eltisley Avenue
Newnham
Cambridge
Cambridgeshire
England
CB3 9JG
Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 5
Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Accountants' Report To The Director On The Preparation Of The Unaudited Statutory Financial Statements Of Graham Smith Consulting Limited For The Year Ended 30 June 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham Smith Consulting Limited for the year ended 30 June 2023 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Graham Smith Consulting Limited, as a body, in accordance with the terms of our engagement letter dated 1 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Graham Smith Consulting Limited and state those matters that we have agreed to state to the board of directors of Graham Smith Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graham Smith Consulting Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Graham Smith Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graham Smith Consulting Limited. You consider that Graham Smith Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Graham Smith Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Chavereys Limited
8 March 2024
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Balance Sheet
As At 30 June 2023
30 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
56,874
73,262
Cash at bank and in hand
87
10,438
56,961
83,700
Creditors: amounts falling due within one year
6
(31,421)
(59,056)
Net current assets
25,540
24,644
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
25,440
24,544
Total equity
25,540
24,644

The notes on pages 4 to 5 form part of these financial statements.

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 year 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 year 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.

The financial statements were approved and signed by the director and authorised for issue on 27 February 2024
Mr G C H Smith
Director
Company registration number 10213959 (England and Wales)
Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Statement Of Changes In Equity
For The Year Ended 30 June 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 July 2021
100
45,265
45,365
Year ended 30 June 2022:
Profit and total comprehensive income
-
48,279
48,279
Dividends
4
-
(69,000)
(69,000)
Balance at 30 June 2022
100
24,544
24,644
Year ended 30 June 2023:
Profit and total comprehensive income
-
20,896
20,896
Dividends
4
-
(20,000)
(20,000)
Balance at 30 June 2023
100
25,440
25,540

The notes on pages 4 to 5 form part of these financial statements.

Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Notes To The Financial Statements
For The Year Ended 30 June 2023
- 4 -
1
Accounting policies
Company information

Graham Smith Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Chavereys Limited, The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.

1.1
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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

1.3
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Graham Smith Consulting Limited
GRAHAM SMITH CONSULTING LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 June 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
5,158
11,705
4
Dividends
2023
2022
£
£
Final paid
20,000
69,000
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
55,364
71,552
Prepayments and accrued income
1,510
1,710
56,874
73,262
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
5,158
11,705
Other taxation and social security
3,925
5,839
Other creditors
20,838
34,763
Accruals and deferred income
1,500
6,749
31,421
59,056
7
Related party transactions
Transactions with related parties

At the year end the company owed the director £20,838 (2022 - £34,763).

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