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Registration number: 11452799

689 Consulting Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 August 2022 to 30 June 2024

 

689 Consulting Ltd

Contents

Company Information

1

Director's Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

689 Consulting Ltd

Company Information

Director

I Pemberton

Registered office

Salatin House
19 Cedar Road
Sutton
England
SM2 5DA

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

689 Consulting Ltd

Director's Report for the Period from 1 August 2022 to 30 June 2024

The director presents his report and the financial statements for the period from 1 August 2022 to 30 June 2024.

Principal activity

The principal activity of the company is that of a selling agent. The company ceased trading on 30 June 2024.

Director of the company

The director who held office during the period and up to the date of approval of this report was as follows:

I Pemberton

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the director on 5 July 2024
 

.........................................
I Pemberton
Director

 

689 Consulting Ltd

(Registration number: 11452799)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2022
£

Non-current assets

 

Property, plant and equipment

4

-

3,808

Current assets

 

Receivables

5

5,209

9,012

Cash at bank and in hand

 

25

5,259

 

5,234

14,271

Payables: Amounts falling due within one year

6

(11,590)

(17,010)

Net current liabilities

 

(6,356)

(2,739)

Total assets less current liabilities

 

(6,356)

1,069

Provisions for liabilities

-

(952)

Net (liabilities)/assets

 

(6,356)

117

Equity

 

Called up share capital

7

100

100

Retained earnings

(6,456)

17

Shareholders' (deficit)/funds

 

(6,356)

117

 

689 Consulting Ltd

(Registration number: 11452799)
Statement of Financial Position as at 30 June 2024 (continued)

For the financial period ending 30 June 2024 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 period 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 and in accordance with the provisions of FRS 102 Section A - small entities.

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 Income statement.

The financial statements of 689 Consulting Ltd were approved and authorised for issue by the director on 5 July 2024
 

.........................................

I Pemberton
Director

 

689 Consulting Ltd

Notes to the Unaudited Financial Statements
for the Period from 1 August 2022 to 30 June 2024

1

General information

689 Consulting Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Revenue recognition

Revenue 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. Revenue 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.

 

689 Consulting Ltd

Notes to the Unaudited Financial Statements
for the Period from 1 August 2022 to 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

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

Office equipment

25% straight line

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.

Receivables

Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

689 Consulting Ltd

Notes to the Unaudited Financial Statements
for the Period from 1 August 2022 to 30 June 2024 (continued)

2

Accounting policies (continued)

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 income statement 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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

689 Consulting Ltd

Notes to the Unaudited Financial Statements
for the Period from 1 August 2022 to 30 June 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Property, plant and equipment

Office equipment
 £

Cost

At 1 August 2022

7,938

Disposals

(7,938)

At 30 June 2024

-

Depreciation

At 1 August 2022

4,130

Charge for the period

3,328

Eliminated on disposal

(7,458)

At 30 June 2024

-

Carrying amount

At 30 June 2024

-

At 31 July 2022

3,808

5

Receivables

2024
£

2022
£

Other receivables

1,363

2,671

Director's loan account

3,846

6,161

Prepayments

-

180

5,209

9,012

 

689 Consulting Ltd

Notes to the Unaudited Financial Statements
for the Period from 1 August 2022 to 30 June 2024 (continued)

6

Payables

2024
£

2022
£

Due within one year

Trade payables

-

3,887

Corporation tax

11,590

11,298

Accruals

-

1,825

11,590

17,010

7

Share capital

Allotted, called up and fully paid shares

 

2024

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.