Registered number
08153718
Trusted Strategist Ltd
Unaudited Filleted Accounts
31 December 2023
Trusted Strategist Ltd
Registered number: 08153718
Balance Sheet
as at 31 December 2023
Notes 31/12/23 31/7/23
£ £
Current assets
Debtors 4 - 439
Cash at bank and in hand 582 5,339
582 5,778
Creditors: amounts falling due within one year 5 (3,723) (7,960)
Net current liabilities (3,141) (2,182)
Net liabilities (3,141) (2,182)
Capital and reserves
Called up share capital 3 3
Profit and loss account (3,144) (2,185)
Shareholders' funds (3,141) (2,182)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Kathleen Butler-Donnelly
Director
Approved by the board on 11 April 2024
Trusted Strategist Ltd
Notes to the Accounts
for the period from 1 August 2023 to 31 December 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).
Company is being made dormant
Company director and shareholder, Kathleen Butler-Donnelly, and shareholder, Christopher Butler-Donnelly, have decided that the business will currently trading as at the 31st December 2023. The company will be made dormant for now. The director is not seeking the full repayment of the director's loan account balance owed to them to enable the company to be made dormant.
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:
Computer over 3 years
Fixtures, fittings, tools and equipment over 6.67 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 31/12/23 31/7/23
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 6,770
Disposals (6,770)
At 31 December 2023 -
Depreciation
At 1 August 2023 6,770
On disposals (6,770)
At 31 December 2023 -
Net book value
At 31 December 2023 -
4 Debtors 31/12/23 31/7/23
£ £
Other debtors - 439
5 Creditors: amounts falling due within one year 31/12/23 31/7/23
£ £
Trade creditors 120 120
Other creditors 3,603 7,840
3,723 7,960
6 Related party transactions
None noted.
7 Transactions with Directors
During the year Kathleen Butler-Donnelly used a current account with the company to record amounts due to her and amounts drawn by her. The account, which is included in other creditors, shows £3,483.24 owing back to Kathleen Butler-Donnelly as Director as at 31st December 2023 (31st July 2023: £7,564.48).
8 Controlling party
Kathleen Butler-Donnelly owns 33.33% of the share capital, her husband Christopher Butler-Donnelly owns 66.67% of the share capital of Trusted Strategist Limited. Kathleen Butler-Donnelly manages the day to day running of the company and has direct influence over Christopher Butler-Donnelly. She is therefore the ultimate controlling party of Trusted Strategist Limited.
9 Other information
Trusted Strategist Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Old Bank
Beaufort Street
Crickhowell
Powys
NP8 1AD
Trusted Strategist Ltd 08153718 false 2023-08-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Kathleen Butler-Donnelly No description of principal activity 08153718 2022-08-01 2023-07-31 08153718 core:WithinOneYear 2023-07-31 08153718 core:ShareCapital 2023-07-31 08153718 core:RetainedEarningsAccumulatedLosses 2023-07-31 08153718 2023-08-01 2023-12-31 08153718 bus:PrivateLimitedCompanyLtd 2023-08-01 2023-12-31 08153718 bus:AuditExemptWithAccountantsReport 2023-08-01 2023-12-31 08153718 bus:Director40 2023-08-01 2023-12-31 08153718 1 2023-08-01 2023-12-31 08153718 2 2023-08-01 2023-12-31 08153718 core:PlantMachinery 2023-08-01 2023-12-31 08153718 countries:England 2023-08-01 2023-12-31 08153718 bus:FRS102 2023-08-01 2023-12-31 08153718 bus:FilletedAccounts 2023-08-01 2023-12-31 08153718 2023-12-31 08153718 core:WithinOneYear 2023-12-31 08153718 core:ShareCapital 2023-12-31 08153718 core:RetainedEarningsAccumulatedLosses 2023-12-31 08153718 core:PlantMachinery 2023-12-31 08153718 2023-07-31 08153718 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure