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Registration number: 10465572

Katalyst Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 November 2023

 

Katalyst Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Katalyst Consulting Limited

Company Information

Directors

Mr Andrew Mills

Mrs Kathryn Ann Mills (nee Rogers)

Registered office

Farriers End
Rabley Heath
Welwyn
Hertfordshire
AL6 9UG

Accountants

RS Partnership Ltd
Chartered Certified Accountants
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW

 

Katalyst Consulting Limited

(Registration number: 10465572)
Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,313

2,993

Current assets

 

Debtors

5

112,190

48,544

Cash at bank and in hand

 

276,117

227,912

 

388,307

276,456

Creditors: Amounts falling due within one year

6

(334,365)

(188,901)

Net current assets

 

53,942

87,555

Net assets

 

55,255

90,548

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

55,155

90,448

Shareholders' funds

 

55,255

90,548

For the financial year ending 29 November 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
Mr Andrew Mills
Director

 

Katalyst Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

1

General information

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

The address of its registered office is:
Farriers End
Rabley Heath
Welwyn
Hertfordshire
AL6 9UG
United Kingdom

The principal place of business is:
Farriers End
Rabley Heath
Welwyn
Hertfordshire
AL6 9UG
United Kingdom

These financial statements were authorised for issue by the Board on 28 August 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 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 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.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

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.

 

Katalyst Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Katalyst Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

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.

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 directors) during the year, was 2 (2022 - 2).

 

Katalyst Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 30 November 2022

7,583

7,583

At 29 November 2023

7,583

7,583

Depreciation

At 30 November 2022

4,590

4,590

Charge for the year

1,680

1,680

At 29 November 2023

6,270

6,270

Carrying amount

At 29 November 2023

1,313

1,313

At 29 November 2022

2,993

2,993

5

Debtors

2023
£

2022
£

Trade debtors

59,876

11,600

Other debtors

669

417

Directors Loan Account

51,645

36,527

112,190

48,544

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,574

-

Taxation and social security

26,520

10,904

Accruals and deferred income

4,795

1,350

Other creditors

98,000

11,229

Corporation tax

201,476

165,418

334,365

188,901

 

Katalyst Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 November 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100