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REGISTERED NUMBER: 03923081 (England and Wales)
















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ENGAGE CONSULTING LIMITED

ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ENGAGE CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R A Cullen
J G Peters


REGISTERED OFFICE: Unit 1, Cambridge House
Camboro Business Park
Oakington Road, Girton
CAMBRIDGE
Cambridgeshire
CB3 0QH


REGISTERED NUMBER: 03923081 (England and Wales)


SENIOR STATUTORY AUDITOR: Herman Hang ACCA


AUDITORS: Grunberg & Co Limited
Chartered Accountants & Statutory Auditors
5 Technology Park
Colindeep Lane
Colindale
London
NW9 6BX


BANKERS: HSBC
Stratford Upon Avon
Warwickshire
CV37 6ET

ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,261 33,506

CURRENT ASSETS
Debtors 5 844,877 1,060,825
Cash at bank 1,839,979 1,444,278
2,684,856 2,505,103
CREDITORS
Amounts falling due within one year 6 1,129,679 940,467
NET CURRENT ASSETS 1,555,177 1,564,636
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,590,438

1,598,142

PROVISIONS FOR LIABILITIES 8 8,815 6,366
NET ASSETS 1,581,623 1,591,776

CAPITAL AND RESERVES
Called up share capital 9 1,483 1,483
Capital redemption reserve 10 717 717
Retained earnings 10 1,579,423 1,589,576
SHAREHOLDERS' FUNDS 1,581,623 1,591,776

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 Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





J G Peters - Director


ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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


1. STATUTORY INFORMATION

Engage Consulting 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. 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. There are no material items in the financial statements where these judgement and estimates have been made.

Turnover from fixed fee contracts is recognised in line with the individual stages of the contract based on director and senior management estimation of the level of completion of the underlying services included in each contract.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from fixed fee contracts is recognised in line with the individual stages of the contract with the estimate of part completed contract stages based upon the time utilisation on each stage compared to the budgeted duration and included as accrued income as appropriate.

Turnover from time and materials contracts is recognised in line with the amount of time and costs which have been incurred on a project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.


ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

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.

ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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


2. ACCOUNTING POLICIES - continued

Financial instruments

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the
obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the
obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is
recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 29 ) .

ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 146,533
Additions 19,462
At 31 December 2023 165,995
DEPRECIATION
At 1 January 2023 113,027
Charge for year 17,707
At 31 December 2023 130,734
NET BOOK VALUE
At 31 December 2023 35,261
At 31 December 2022 33,506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 433,601 659,901
Other debtors 29,798 7,441
Prepayments and accrued income 381,478 393,483
844,877 1,060,825

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 193,459 177,737
Tax 181,467 47,780
Social security and other taxes 92,958 89,037
VAT 183,768 169,303
Other creditors 8,209 5,613
Directors' loan accounts 272,343 243,116
Accrued expenses 197,475 207,881
1,129,679 940,467

7. LEASING AGREEMENTS
The company has not entered into any operating leases either in the current accounting period, or the post balance sheet period up to the date of signing of these financial statements.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 8,815 6,366

ENGAGE CONSULTING LIMITED (REGISTERED NUMBER: 03923081)

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


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 6,366
Provided during year 2,449
Balance at 31 December 2023 8,815

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,483 Ordinary £1 1,483 1,483

Called up share capital represents the nominal value of shares issued.

10. RESERVES

Retained earnings includes all current and prior period retained profits and loss, all of which, are distributable
reserves.

Capital redemption reserve includes amounts arising from the redemption of ordinary share capital.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Herman Hang ACCA (Senior Statutory Auditor)
for and on behalf of Grunberg & Co Limited