Company registration number 06661908 (England and Wales)
COLUMN 5 CONSULTING UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
COLUMN 5 CONSULTING UK LIMITED
CONTENTS
PAGE
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
COLUMN 5 CONSULTING UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
FIXED ASSETS
Intangible assets
4
1
1
Tangible assets
5
1,531
-
0
1,532
1
CURRENT ASSETS
Debtors
6
156,192
368,968
Cash at bank and in hand
6,732
28,493
162,924
397,461
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7
(3,252,579)
(4,106,429)
NET CURRENT LIABILITIES
(3,089,655)
(3,708,968)
TOTAL ASSETS LESS CURRENT LIABILITIES
(3,088,123)
(3,708,967)
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
8
(18,165)
(28,335)
NET LIABILITIES
(3,106,288)
(3,737,302)
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss reserves
(3,106,289)
(3,737,303)
TOTAL EQUITY
(3,106,288)
(3,737,302)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 22 August 2024
Mr D Den Boer
DIRECTOR
Company registration number 06661908 (England and Wales)
COLUMN 5 CONSULTING UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
BALANCE AT 1 JANUARY 2022
1
(4,146,812)
(4,146,811)
YEAR ENDED 31 DECEMBER 2022:
Profit and total comprehensive income
-
409,509
409,509
BALANCE AT 31 DECEMBER 2022
1
(3,737,303)
(3,737,302)
YEAR ENDED 31 DECEMBER 2023:
Profit and total comprehensive income
-
631,014
631,014
BALANCE AT 31 DECEMBER 2023
1
(3,106,289)
(3,106,288)
COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
ACCOUNTING POLICIES
COMPANY INFORMATION

Column 5 Consulting UK Limited is a private company limited by shares incorporated in England and Wales. The company's registered office is 19 Highfield Road, Edgbaston, Birmingham, B15 3BH.

1.1
ACCOUNTING CONVENTION

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Column 5 Consulting UK Limited is a wholly owned subsidiary of Column 5 Consulting Group, LLC and the results of Column 5 Consulting UK Limited are included in the consolidated financial statements of Column 5 Consulting Group, LLC.

1.2
GOING CONCERN

These financial statements have been prepared on a going concern basis, the validity of which is dependent upon the company being able to operate and benefit from the continued support of the company's parent undertaking, Column 5 Consulting Group LLC, to ensure adequate facilities are available for the company to discharge its liabilities as they fall due.

 

The director has considered the various income streams of the company, anticipated costs, future cash flows and the various options available to them.

 

As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue indefinitely, although, at the date of approval of these financial statements, the director is in receipt of a letter from the company's parent undertaking indicating that support will be available for the foreseeable future.

 

Based on the undertaking, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statement do not include any adjustments which would result from the basis of preparation being inappropriate.

 

The company has made a profit for the year of £631,014 (2022: profit of £409,509) and at the balance sheet date had net liabilities of £3,106,288 (2022: £3,737,302). The amount due to group undertakings at the balance sheet date was £2,838,154 (2022: £3,646,169) and the parent company has indicated that the amount due to it will be deferred.

1.3
TURNOVER

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
INTANGIBLE FIXED ASSETS - GOODWILL

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. As at 31 December 2019 the goodwill was fully amortised.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
50% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

 

1.6
IMPAIRMENT OF FIXED ASSETS

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 5 -
1.7
CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 6 -
1.12
FOREIGN EXCHANGE

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
4
INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2023 and 31 December 2023
138,889
AMORTISATION AND IMPAIRMENT
At 1 January 2023 and 31 December 2023
138,888
CARRYING AMOUNT
At 31 December 2023
1
At 31 December 2022
1
COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
5
TANGIBLE FIXED ASSETS
Computers
£
COST
At 1 January 2023
8,005
Additions
3,062
At 31 December 2023
11,067
DEPRECIATION AND IMPAIRMENT
At 1 January 2023
8,005
Depreciation charged in the year
1,531
At 31 December 2023
9,536
CARRYING AMOUNT
At 31 December 2023
1,531
At 31 December 2022
-
0
6
DEBTORS
2023
2022
AMOUNTS FALLING DUE WITHIN ONE YEAR:
£
£
Trade debtors
142,433
368,968
Prepayments and accrued income
13,759
-
0
156,192
368,968
7
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Loans and overdrafts
10,648
10,648
Trade creditors
63,216
59,014
Amount due to parent undertaking
2,838,154
3,646,169
Other taxation and social security
23,216
64,508
Deferred income
83,556
108,416
Other creditors
230,004
213,999
Accruals
3,785
3,675
3,252,579
4,106,429
8
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
£
£
Bank loans and overdrafts
18,165
28,335
COLUMN 5 CONSULTING UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
9
RELATED PARTY TRANSACTIONS
TRANSACTIONS WITH RELATED PARTIES

During the year the company entered into the following transactions with related parties:

As at 31 December 2023 Column 5 Consulting UK Limited owed a total of £207,814 (2022: £179,055) to Darwin EPM Inc, a company which is under the control of Column 5 Consulting Group LLC, the parent company of Column 5 Consulting UK Limited.

The company has taken advantage of exemption of Section 33 of FRS 102, Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

10
PARENT COMPANY

The ultimate parent company is Column 5 Consulting Group LLC, a company incorporated in the United States of America, whose address is 2820 S Alma School Road, Suite 18-645, Chandler, Arizona, AZ 85286, USA.

11
GOING CONCERN

These financial statements have been prepared on a going concern basis, the validity of which is dependent upon the company being able to operate and benefit from the continued support of the company's parent undertaking, Column 5 Consulting Group LLC, to ensure adequate facilities are available for the company to discharge its liabilities as they fall due.

 

The director has considered the various income streams of the company, anticipated costs, future cash flows and the various options available to them.

 

As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue indefinitely, although, at the date of approval of these financial statements, the director is in receipt of a letter from the company's parent undertaking indicating that support will be available for the foreseeable future.

 

Based on the undertaking, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. The financial statement do not include any adjustments which would result from the basis of preparation being inappropriate.

 

The company has made a profit for the year of £631,014 (2022: profit of £409,509) and at the balance sheet date had net liabilities of £3,106,288 (2022: £3,737,302). The amount due to group undertakings at the balance sheet date was £2,838,154 (2022: £3,646,169) and the parent company has indicated that the amount due to it will be deferred.

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