COMPANY REGISTRATION NUMBER:
05624718
THE RESULTS CENTRE LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
THE RESULTS CENTRE LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2024
FIXED ASSETS
Tangible assets |
5 |
|
9,050 |
|
8,167 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
63,450 |
|
19,799 |
|
Cash at bank and in hand |
3,170 |
|
1,794 |
|
|
-------- |
|
-------- |
|
|
66,620 |
|
21,593 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
61,366 |
|
7,113 |
|
|
-------- |
|
-------- |
|
NET CURRENT ASSETS |
|
5,254 |
|
14,480 |
|
|
-------- |
|
-------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
14,304 |
|
22,647 |
|
|
|
|
|
|
PROVISIONS |
|
1,720 |
|
– |
|
|
-------- |
|
-------- |
NET ASSETS |
|
12,584 |
|
22,647 |
|
|
-------- |
|
-------- |
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
125 |
|
125 |
Profit and loss account |
|
12,459 |
|
22,522 |
|
|
-------- |
|
-------- |
SHAREHOLDERS FUNDS |
|
12,584 |
|
22,647 |
|
|
-------- |
|
-------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
THE RESULTS CENTRE LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
26 August 2024
, and are signed on behalf of the board by:
Company registration number:
05624718
THE RESULTS CENTRE LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
15% reducing balance and 33 1/3 straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
TANGIBLE ASSETS
|
Equipment |
|
£ |
Cost |
|
At 1 April 2023 |
22,486 |
Additions |
2,480 |
|
-------- |
At 31 March 2024 |
24,966 |
|
-------- |
Depreciation |
|
At 1 April 2023 |
14,319 |
Charge for the year |
1,597 |
|
-------- |
At 31 March 2024 |
15,916 |
|
-------- |
Carrying amount |
|
At 31 March 2024 |
9,050 |
|
-------- |
At 31 March 2023 |
8,167 |
|
-------- |
|
|
6.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
35,112 |
19,799 |
Other debtors |
28,338 |
– |
|
-------- |
-------- |
|
63,450 |
19,799 |
|
-------- |
-------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
158 |
417 |
Corporation tax |
14,893 |
1,930 |
Social security and other taxes |
7,741 |
2,091 |
Other creditors |
38,574 |
2,675 |
|
-------- |
------- |
|
61,366 |
7,113 |
|
-------- |
------- |
|
|
|
8.
RELATED PARTIES
During the year the company undertook the following transactions with related parties:
Mr A T Denton
received rent in respect of use by the company of office premises amounting to £1,200 (2023 - £1,200). The Director has advanced funds to the company. At 31 March 2024 the amount due from the company was £36,584 (2023 - £781).