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REGISTERED NUMBER: 05506242 (England and Wales)















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: G Enright
D J Enright





SECRETARY: G Enright





REGISTERED OFFICE: 6 High Street
Wheathampstead
Hertfordshire
AL4 8AA





REGISTERED NUMBER: 05506242 (England and Wales)





ACCOUNTANTS: Fenlon & Co
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 4 947 1,263
Investments 5 1,100 1,100
Investment property 6 208,023 208,023
210,070 210,386

CURRENT ASSETS
Debtors 7 50,662 75,480

CREDITORS
Amounts falling due within one year 8 17,786 20,093
NET CURRENT ASSETS 32,876 55,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,946

265,773

CREDITORS
Amounts falling due after more than
one year

9

187,313

190,288
NET ASSETS 55,633 75,485

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,533 75,385
SHAREHOLDERS' FUNDS 55,633 75,485

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

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

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


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





G Enright - Director


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

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 4,175
DEPRECIATION
At 1 January 2023 2,912
Charge for year 316
At 31 December 2023 3,228
NET BOOK VALUE
At 31 December 2023 947
At 31 December 2022 1,263

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 1,000 14,950 15,950
PROVISIONS
At 1 January 2023
and 31 December 2023 - 14,850 14,850
NET BOOK VALUE
At 31 December 2023 1,000 100 1,100
At 31 December 2022 1,000 100 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 208,023
NET BOOK VALUE
At 31 December 2023 208,023
At 31 December 2022 208,023

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 44,325 53,995
Directors' current accounts 5,156 18,138
Prepayments & other debtors 1,181 3,347
50,662 75,480

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 10,421 6,260
Tax - 771
Social security and other taxes - 5
Other creditors 7,365 13,057
17,786 20,093

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 1-5 years unsecured 23,989 21,700
Bank loans more 5 yrs secured 151,771 151,771
Bank loans more 5yrs unsecured 11,553 16,817
187,313 190,288

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs secured 151,771 151,771

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.