2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 39,900 39,900 2,874 1,263 274 1,537 1,337 1,611 xbrli:pure xbrli:shares iso4217:GBP 09972447 2023-03-01 2024-02-29 09972447 2024-02-29 09972447 2023-02-28 09972447 2022-03-01 2023-02-28 09972447 2023-02-28 09972447 2022-02-28 09972447 bus:Director1 2023-03-01 2024-02-29 09972447 bus:Director2 2023-03-01 2024-02-29 09972447 bus:Director3 2023-03-01 2024-02-29 09972447 core:NetGoodwill 2024-02-29 09972447 core:WithinOneYear 2024-02-29 09972447 core:WithinOneYear 2023-02-28 09972447 core:ShareCapital 2024-02-29 09972447 core:ShareCapital 2023-02-28 09972447 core:RetainedEarningsAccumulatedLosses 2024-02-29 09972447 core:RetainedEarningsAccumulatedLosses 2023-02-28 09972447 bus:Director3 2023-02-28 09972447 bus:Director3 2024-02-29 09972447 bus:Director3 2022-02-28 09972447 bus:Director3 2023-02-28 09972447 bus:Director3 2022-03-01 2023-02-28 09972447 bus:SmallEntities 2023-03-01 2024-02-29 09972447 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09972447 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09972447 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09972447 bus:FullAccounts 2023-03-01 2024-02-29 09972447 core:NetGoodwill 2023-03-01 2024-02-29 09972447 core:ComputerEquipment 2023-03-01 2024-02-29 09972447 core:ComputerEquipment 2024-02-29 09972447 core:ComputerEquipment 2023-02-28
COMPANY REGISTRATION NUMBER: 09972447
Forensic Cost Accounting Limited
Filleted Unaudited Financial Statements
29 February 2024
Forensic Cost Accounting Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
1,337
1,611
Current assets
Debtors
7
32,322
8,785
Cash at bank and in hand
23,167
42,052
--------
--------
55,489
50,837
Creditors: amounts falling due within one year
8
96,334
128,118
--------
---------
Net current liabilities
40,845
77,281
--------
--------
Total assets less current liabilities
( 39,508)
( 75,670)
--------
--------
Net liabilities
( 39,508)
( 75,670)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 39,608)
( 75,770)
--------
--------
Shareholders deficit
( 39,508)
( 75,670)
--------
--------
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 comprehensive income has not been delivered.
For the year ending 29 February 2024 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 .
Forensic Cost Accounting Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 28 May 2024 , and are signed on behalf of the board by:
NJ Clement
Z Clement
Director
Director
Company registration number: 09972447
Forensic Cost Accounting Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57a Broadway, Leigh on Sea, SS9 1PE, Essex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
39,900
--------
Amortisation
At 1 March 2023 and 29 February 2024
39,900
--------
Carrying amount
At 29 February 2024
--------
At 28 February 2023
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2023 and 29 February 2024
2,874
2,874
-------
-------
Depreciation
At 1 March 2023
1,263
1,263
Charge for the year
274
274
-------
-------
At 29 February 2024
1,537
1,537
-------
-------
Carrying amount
At 29 February 2024
1,337
1,337
-------
-------
At 28 February 2023
1,611
1,611
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
32,198
8,661
Other debtors
124
124
--------
-------
32,322
8,785
--------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,781
3,976
Social security and other taxes
1,718
5,217
Other creditors
77,835
118,925
--------
---------
96,334
128,118
--------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
N & Z Clement
( 117,225)
41,170
( 76,055)
---------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
N & Z Clement
( 128,086)
10,861
( 117,225)
---------
--------
---------
10. Related party transactions
The company was under the control of N & Z Clement throughout the previous and current period, both are directors and shareholders.