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Company No: 08053640 (England and Wales)

EMERSON OSMOND CONSULTING LTD

Unaudited Financial Statements
For the financial period from 01 June 2022 to 30 November 2023
Pages for filing with the registrar

EMERSON OSMOND CONSULTING LTD

Unaudited Financial Statements

For the financial period from 01 June 2022 to 30 November 2023

Contents

EMERSON OSMOND CONSULTING LTD

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
EMERSON OSMOND CONSULTING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 30.11.2023 31.05.2022
£ £
Fixed assets
Tangible assets 3 0 2,830
0 2,830
Current assets
Debtors 4 6,900 12,674
Cash at bank and in hand 18 1,675
6,918 14,349
Creditors: amounts falling due within one year 5 ( 8,428) ( 6,547)
Net current (liabilities)/assets (1,510) 7,802
Total assets less current liabilities (1,510) 10,632
Creditors: amounts falling due after more than one year 6 ( 6,875) ( 13,495)
Net liabilities ( 8,385) ( 2,863)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 8,485 ) ( 2,963 )
Total shareholder's deficit ( 8,385) ( 2,863)

For the financial period ending 30 November 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 financial statements of Emerson Osmond Consulting Ltd (registered number: 08053640) were approved and authorised for issue by the Director on 22 August 2024. They were signed on its behalf by:

Mr Emerson Osmond
Director
EMERSON OSMOND CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 June 2022 to 30 November 2023
EMERSON OSMOND CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 June 2022 to 30 November 2023
1. Accounting policies

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

General information and basis of accounting

Emerson Osmond Consulting Ltd (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 , United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 Company has adopted FRS 102 for the period ended 30 November 2023, with the date of transition being 1 June 2021. There are no transitional adjustments.

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

Going concern

In the prior year the director ceased to trade through this company. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The reporting period has been extended to 18 months and as such the prior year figures are not directly comparable.

Turnover

Turnover is stated net of relevant VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Computer equipment 25 % reducing balance
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
01.06.2022 to
30.11.2023
Year ended
31.05.2022
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 June 2022 4,255 4,255
At 30 November 2023 4,255 4,255
Accumulated depreciation
At 01 June 2022 1,425 1,425
Charge for the financial period 1,061 1,061
Impairment losses 1,769 1,769
At 30 November 2023 4,255 4,255
Net book value
At 30 November 2023 0 0
At 31 May 2022 2,830 2,830

4. Debtors

30.11.2023 31.05.2022
£ £
Trade debtors 6,900 12,500
Amounts owed by director 0 174
6,900 12,674

5. Creditors: amounts falling due within one year

30.11.2023 31.05.2022
£ £
Bank loans 4,024 3,253
Taxation and social security 0 1,747
Other creditors 4,404 1,547
8,428 6,547

6. Creditors: amounts falling due after more than one year

30.11.2023 31.05.2022
£ £
Bank loans 6,875 13,495

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

30.11.2023 31.05.2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

30.11.2023 31.05.2022
£ £
Amounts owed to directors 2,857 (174)

Amounts owed to directors are interest free and repayable on demand.