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REGISTERED NUMBER: 07787430 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Octagon Consultancy Limited

Octagon Consultancy Limited (Registered number: 07787430)






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


Octagon Consultancy Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R I S Adams
L A Brown





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY





REGISTERED NUMBER: 07787430 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Octagon Consultancy Limited (Registered number: 07787430)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,533 19,663
13,533 19,663

CURRENT ASSETS
Debtors 6 126,589 117,265
Cash at bank and in hand 999,174 857,007
1,125,763 974,272
CREDITORS
Amounts falling due within one year 7 172,150 158,444
NET CURRENT ASSETS 953,613 815,828
TOTAL ASSETS LESS CURRENT LIABILITIES 967,146 835,491

PROVISIONS FOR LIABILITIES 3,383 4,908
NET ASSETS 963,763 830,583

CAPITAL AND RESERVES
Called up share capital 8 1,189 1,189
Share premium 9 149,732 149,732
Retained earnings 9 812,842 679,662
SHAREHOLDERS' FUNDS 963,763 830,583

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.

Octagon Consultancy Limited (Registered number: 07787430)

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 5 September 2024 and were signed on its behalf by:





R I S Adams - Director


Octagon Consultancy Limited (Registered number: 07787430)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Octagon Consultancy 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.

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.

Turnover
Turnover represents commissions received net of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a client bank in 2014, and was fully amortised after 3 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33.33% on cost

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 tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

Octagon Consultancy Limited (Registered number: 07787430)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 225,000
AMORTISATION
At 1 January 2023
and 31 December 2023 225,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 20,563 21,067 41,630
Additions - 1,405 1,405
At 31 December 2023 20,563 22,472 43,035
DEPRECIATION
At 1 January 2023 10,677 11,290 21,967
Charge for year 1,483 6,052 7,535
At 31 December 2023 12,160 17,342 29,502
NET BOOK VALUE
At 31 December 2023 8,403 5,130 13,533
At 31 December 2022 9,886 9,777 19,663

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 110,112 94,677
Other debtors 70 70
VAT - 2,014
Prepayments 16,407 20,504
126,589 117,265

Octagon Consultancy Limited (Registered number: 07787430)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 7,570 16,724
Tax 121,738 116,593
Social security and other taxes 14,794 14,807
VAT 12,951 -
Other creditors 2,860 1,827
Directors' current accounts 293 401
Accrued expenses 11,944 8,092
172,150 158,444

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
950 Ordinary £1 950 950
2 Ordinary B £1 2 2
118 Ordinary C £1 118 118
118 Ordinary D £1 118 118
1 Ordinary E £1 1 1
1,189 1,189

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 679,662 149,732 829,394
Profit for the year 358,180 358,180
Dividends (225,000 ) (225,000 )
At 31 December 2023 812,842 149,732 962,574