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Registration number: 11074668

Isabel Ward Consulting Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Isabel Ward Consulting Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Isabel Ward Consulting Ltd

(Registration number: 11074668)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,415

1,213

Current assets

 

Debtors

5

16,193

14,529

Cash at bank and in hand

 

43,334

40,159

 

59,527

54,688

Creditors: Amounts falling due within one year

6

(49,461)

(38,187)

Net current assets

 

10,066

16,501

Net assets

 

11,481

17,714

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

11,480

17,713

Shareholders' funds

 

11,481

17,714

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 9 September 2024
 


Isabel Ward
Director

 

Isabel Ward Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:
Woodlands,
Tennyson’s Lane
Haslemere
GU27 3AF

Principal activity

The principal activity of the company is public relations and communications activities.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Isabel Ward Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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.

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 statement of financial position 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

Fixtures and fittings

15% reducing balance

Office equipment

25% reducing balance

Impairment

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.

 

Isabel Ward Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Isabel Ward Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,016

1,355

2,371

Additions

258

292

550

At 31 March 2024

1,274

1,647

2,921

Depreciation

At 1 April 2023

333

825

1,158

Charge for the year

142

206

348

At 31 March 2024

475

1,031

1,506

Carrying amount

At 31 March 2024

799

616

1,415

At 31 March 2023

683

530

1,213

5

Debtors

2024
£

2023
£

Trade debtors

16,193

14,529

16,193

14,529

 

Isabel Ward Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

7,841

22,620

Accruals and deferred income

1,999

950

Other creditors

39,621

14,617

49,461

38,187

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.