REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Businessscope Consultancy Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
Businessscope Consultancy Ltd |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Businessscope Consultancy Ltd |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
6 High Street |
Wheathampstead |
Hertfordshire |
AL4 8AA |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Businessscope Consultancy Limited is a private company limited by shares and incorporated in England & Wales. Its Its registered office is 6 High Street, Wheathampstead, Herts AL4 8AA. |
The financial statements are presented in Sterling, which is the functional currency of the company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable for goods and services with reference to contractual obligations. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. |
In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Revenue in respect of long-term contracts and contracts for ongoing services is recognised by reference to the stage of completion. |
Consolidation |
The company and another subsidiary are a small group subject to the small companies regime. The company is therefore not required and has chosen not to prepare group accounts. |
Tangible fixed assets |
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life: |
Computer Equipment - 25% on written down value. |
Investment property |
No depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the Directors consider that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The Directors consider that this policy results in the accounts giving a true and fair view. |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period |
Leasing & hire purchase contracts |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the leases term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. |
Dividends |
Final ordinary dividends payable to shareholders of the Company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 | 15,950 |
PROVISIONS |
At 1 January 2023 |
and 31 December 2023 | - | 14,850 | 14,850 |
NET BOOK VALUE |
At 31 December 2023 | 1,100 |
At 31 December 2022 | 1,100 |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
Shares in group undertakings |
The Subsidiary Company, Hercules Events Ltd was acquired on 1st January 2014. It was incorporated on 15th July 2011 and its principal activity is that of organising sporting events, training and publishing. At 31st December 2022 it had the following reserves: |
Aggregate Capital and Reserves/Deficit - £60,761 (2022 : Deficit £60,726) |
The Subsidiary Company is 100% owned by Businessscope Consultancy Ltd. |
The value of the subsidiary, which has been included at cost, has been considered by the Directors. The Directors believe to be an appropriate value due to the capacity for future earnings. |
Other investments |
This is an investment in a crypto currency fund. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The value of the investment property, which has been included at the cost in 2007, has been considered by the Directors. The Directors believe this to be an appropriate value due to the state of the rental market in the area where the property is situated. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed by group undertakings |
Directors' current accounts | 5,156 | 18,138 |
Prepayments & other debtors |
Businessscope Consultancy Ltd (Registered number: 05506242) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Tax |
Social security and other taxes |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans 1-5 years unsecured |
Bank loans more 5 yrs secured | 151,771 | 151,771 |
Bank loans more 5yrs unsecured |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs secured |
Repayable by instalments |
Bank loans more 5yrs unsecured | 11,553 | 16,817 |
The secured bank loan is an interest only mortgage loan secured on the company's land and buildings. It is repayable in 2034. |
10. | RELATED PARTY DISCLOSURES |
At 31st December 2023, £5,156 (2022 : £18,138) was owed by the directors, Mr & Mrs Enright |
Subsidiary Company |
At 31st December 2023 the company was owed £44,325 (2022: £53,995) by Hercules Events Ltd. |