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Company registration number: 05973101
J C Consultancy Ltd
Unaudited filleted financial statements
31 December 2023
J C Consultancy Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
J C Consultancy Ltd
Directors and other information
Directors Mr Jamie Lewis Hicks
Mr John Christopher Ellington
Miss Catherine Elizabeth Norton
Secretary Catherine Elizabeth Norton
Company number 05973101
Registered office 75 High Street
Boston
Lincs
PE21 8SX
Business address C/o 11 Poppy Close
Boston
Lincs
PE21 7TJ
Accountants Lister & Co
75 High Street
Boston
Lincs
PE21 8SX
J C Consultancy Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of J C Consultancy Ltd
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J C Consultancy Ltd for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of J C Consultancy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of J C Consultancy Ltd and state those matters that we have agreed to state to the board of directors of J C Consultancy Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J C Consultancy Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that J C Consultancy Ltd 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 J C Consultancy Ltd. You consider that J C Consultancy Ltd 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 J C Consultancy Ltd. 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.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
2 February 2024
J C Consultancy Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 15,474 28,460
_______ _______
15,474 28,460
Current assets
Debtors 6 24,294 32,498
Cash at bank and in hand 60,795 22,994
_______ _______
85,089 55,492
Creditors: amounts falling due
within one year 7 ( 60,936) ( 48,316)
_______ _______
Net current assets 24,153 7,176
_______ _______
Total assets less current liabilities 39,627 35,636
Provisions for liabilities ( 3,051) ( 4,405)
_______ _______
Net assets 36,576 31,231
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 36,476 31,131
_______ _______
Shareholders funds 36,576 31,231
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 February 2024 , and are signed on behalf of the board by:
Mr Jamie Lewis Hicks
Director
Company registration number: 05973101
J C Consultancy Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is J C Consultancy Ltd, 75 High Street, Boston, Lincs, PE21 8SX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office & computer equipment - 15 % reducing balance
Furniture & fixtures - 15 % reducing balance
Motor vehicles - 20 % reducing balance
Plant & machinery - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 6 ).
5. Tangible assets
Office & computer equipment Fixtures, fittings and equipment Motor vehicles Plant and machinery Total
£ £ £ £ £
Cost
At 1 January 2023 15,073 3,251 42,495 1,966 62,785
Additions 3,025 - - 321 3,346
Disposals ( 9,500) - ( 20,500) - ( 30,000)
_______ _______ _______ _______ _______
At 31 December 2023 8,598 3,251 21,995 2,287 36,131
_______ _______ _______ _______ _______
Depreciation
At 1 January 2023 7,912 1,190 24,516 707 34,325
Charge for the year 821 308 1,532 201 2,862
Disposals ( 6,351) - ( 10,179) - ( 16,530)
_______ _______ _______ _______ _______
At 31 December 2023 2,382 1,498 15,869 908 20,657
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2023 6,216 1,753 6,126 1,379 15,474
_______ _______ _______ _______ _______
At 31 December 2022 7,161 2,061 17,979 1,259 28,460
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 15,652 19,427
Other debtors 8,642 13,071
_______ _______
24,294 32,498
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,050 4,458
Social security and other taxes 33,044 14,944
Other creditors 24,842 28,914
_______ _______
60,936 48,316
_______ _______
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares shares of £ 1.00 each 51 51 51 51
Ordinary B shares shares of £ 1.00 each 49 49 49 49
_______ _______ _______ _______
100 100 100 100
_______ _______ _______ _______