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REGISTERED NUMBER: 13546912 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

VERNON HALES CONSULTANCY LIMITED

VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VERNON HALES CONSULTANCY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: Mr Vernon William Hales





REGISTERED OFFICE: 5 Bridge Street
Whaddon
Royston
United Kingdom
SG8 5SG





REGISTERED NUMBER: 13546912 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,088 566

CURRENT ASSETS
Debtors 6 13,477 4,474
Cash at bank 10,734 5,368
24,211 9,842
CREDITORS
Amounts falling due within one year 7 (5,327 ) (3,753 )
NET CURRENT ASSETS 18,884 6,089
TOTAL ASSETS LESS CURRENT LIABILITIES 19,972 6,655

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 19,872 6,555
SHAREHOLDERS' FUNDS 19,972 6,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





Mr Vernon William Hales - Director


VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Vernon Hales Consultancy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is compiled of consultancy services, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 15% on reducing balance

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. ACCOUNTING POLICIES - continued

Cash and cash equivalent:
Cash and cash equivalent comprise cash on hand and call deposits, and other short-term highly liquid investment 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.

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-compressibilities.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022 665
Additions 714
At 31 August 2023 1,379
DEPRECIATION
At 1 September 2022 99
Charge for year 192
At 31 August 2023 291
NET BOOK VALUE
At 31 August 2023 1,088
At 31 August 2022 566

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,477 4,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 4,708 2,883
Directors' current accounts 79 230
Accrued expenses 540 640
5,327 3,753

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

VERNON HALES CONSULTANCY LIMITED (REGISTERED NUMBER: 13546912)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 August 2023 and the period ended 31 August 2022:

2023 2022
£    £   
Mr Vernon William Hales
Balance outstanding at start of year (230 ) (230 )
Amounts advanced 7,881 -
Amounts repaid (7,730 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (79 ) (230 )