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Company No: 06904410 (England and Wales)

TRIAL BALANCE CONSULTING LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

TRIAL BALANCE CONSULTING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

TRIAL BALANCE CONSULTING LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
TRIAL BALANCE CONSULTING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTORS Mr A T Callister
Mrs A J Callister
SECRETARY Mrs A J Callister
REGISTERED OFFICE Meridian House
Heron Way
Truro
TR1 2XN
United Kingdom
COMPANY NUMBER 06904410 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
TRIAL BALANCE CONSULTING LIMITED

BALANCE SHEET

As at 31 May 2024
TRIAL BALANCE CONSULTING LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 275,193 290,850
275,193 290,850
Current assets
Debtors 5 99,770 118,486
Cash at bank and in hand 310,047 321,987
409,817 440,473
Creditors: amounts falling due within one year 6 ( 125,701) ( 107,981)
Net current assets 284,116 332,492
Total assets less current liabilities 559,309 623,342
Provision for liabilities ( 12,292) ( 14,829)
Net assets 547,017 608,513
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 546,917 608,413
Total shareholders' funds 547,017 608,513

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Trial Balance Consulting Limited (registered number: 06904410) were approved and authorised for issue by the Board of Directors on 30 July 2024. They were signed on its behalf by:

Mr A T Callister
Director
TRIAL BALANCE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
TRIAL BALANCE CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Trial Balance Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Meridian House, Heron Way, Truro, TR1 2XN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 13

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 June 2023 30,000 30,000
At 31 May 2024 30,000 30,000
Accumulated amortisation
At 01 June 2023 30,000 30,000
At 31 May 2024 30,000 30,000
Net book value
At 31 May 2024 0 0
At 31 May 2023 0 0

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 June 2023 275,472 56,812 50,641 7,828 390,753
Additions 0 0 5,594 0 5,594
At 31 May 2024 275,472 56,812 56,235 7,828 396,347
Accumulated depreciation
At 01 June 2023 43,937 15,978 32,160 7,828 99,903
Charge for the financial year 5,509 10,208 5,534 0 21,251
At 31 May 2024 49,446 26,186 37,694 7,828 121,154
Net book value
At 31 May 2024 226,026 30,626 18,541 0 275,193
At 31 May 2023 231,535 40,834 18,481 0 290,850

5. Debtors

2024 2023
£ £
Trade debtors 92,957 110,636
Other debtors 6,813 7,850
99,770 118,486

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 830 283
Amounts owed to directors 1,337 1,025
Accruals 1,951 1,952
Taxation and social security 119,086 104,721
Other creditors 2,497 0
125,701 107,981

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100