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Registration number: 11712660

Inside Matters Counselling Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Inside Matters Counselling Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 13

 

Inside Matters Counselling Ltd

Company Information

Director

Miss Katherine Gregg

Registered office

65 Victoria Road
Polegate
East Sussex
BN26 6BY

Accountants

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

Inside Matters Counselling Ltd

Director's Report for the Year Ended 31 December 2023

The director presents her report and the abridged financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Miss Katherine Gregg

Principal activity

The principal activity of the company is Mental Health Counselling

Going concern

No Going Concern Issues

Small companies provision statement

This report has 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.

Approved and authorised by the director on 16 May 2024
 

.........................................
Miss Katherine Gregg
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Inside Matters Counselling Ltd
for the 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 accounts of Inside Matters Counselling Ltd for the year ended 31 December 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Inside Matters Counselling Ltd, as a body, in accordance with the terms of our engagement letter dated 5 December 2018. Our work has been undertaken solely to prepare for your approval the accounts of Inside Matters Counselling Ltd and state those matters that we have agreed to state to the Board of Directors of Inside Matters Counselling Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Inside Matters Counselling Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Inside Matters Counselling Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Inside Matters Counselling Ltd. You consider that Inside Matters Counselling 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 accounts of Inside Matters Counselling 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 accounts.

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

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

16 May 2024

 

Inside Matters Counselling Ltd

Abridged Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Gross profit

 

37,640

50,817

Administrative expenses

 

(17,463)

(24,131)

Profit before tax

20,177

26,686

Tax on profit

 

(3,834)

(5,070)

Profit for the financial year

 

16,343

21,616

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Inside Matters Counselling Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

16,343

21,616

Total comprehensive income for the year

16,343

21,616

 

Inside Matters Counselling Ltd

(Registration number: 11712660)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

18,019

20,000

Creditors: Amounts falling due within one year

(12,672)

(10,815)

Total assets less current liabilities

 

5,347

9,185

Accruals and deferred income

 

(2,550)

(1,730)

Net assets

 

2,797

7,455

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

2,796

7,454

Shareholders' funds

 

2,797

7,455

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 16 May 2024
 

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

Miss Katherine Gregg

Director

 

Inside Matters Counselling Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1

7,453

7,454

Profit for the year

-

16,343

16,343

Dividends

-

(21,000)

(21,000)

At 31 December 2023

1

2,796

2,797

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

1

11,838

11,839

Profit for the year

-

21,616

21,616

Dividends

-

(26,000)

(26,000)

At 31 December 2022

1

7,454

7,455

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
65 Victoria Road
Polegate
East Sussex
BN26 6BY
United Kingdom

These financial statements were authorised for issue by the director on 16 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover 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. Turnover 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.

Tax

The tax expense for the period comprises current 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.

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Trade debtors

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

Trade debtors 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 trade debtors 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.

Trade creditors

Trade creditors 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 creditors 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 profit and loss account 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.

3

Staff numbers

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

4

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

6

Dividends

2023

2022

£

£

Interim dividend of £21,000.00 (2022 - £26,000.00) per ordinary share

21,000

26,000

 

 

7

Related party transactions

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

8,000

8,000

8

Transition to FRS 102

Balance Sheet at 1 January 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Balance Sheet at 31 December 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Inside Matters Counselling Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Profit and Loss Account for the year ended 31 December 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-