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Registered number: 12271331














RYE BAY CONSULTING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
RYE BAY CONSULTING LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
RYE BAY CONSULTING LIMITED
REGISTERED NUMBER:12271331

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
429
-

Investments
 5 
55,000
39,593

  
55,429
39,593

Current assets
  

Debtors: amounts falling due within one year
 6 
411
560

Cash at bank and in hand
  
47,286
45,311

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(5,964)
(8,797)

Net current assets
  
 
 
41,733
 
 
37,074

  

Net assets
  
97,162
76,667


Capital and reserves
  

Called up share capital 
 8 
1
1

Other reserves
  
15,407
-

Profit and loss account
  
81,754
76,666

  
97,162
76,667


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2024.




S Attenborough
Director

Page 1

 
RYE BAY CONSULTING LIMITED
REGISTERED NUMBER:12271331
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
RYE BAY CONSULTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Rye Bay Consulting Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. 
The principal activity of the company during the year was that of public speaking.
 The financial statements are presented in £ sterling, which is the functional currency of the company.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied in the year exclusive of trade discounts and excluding value added tax. 
Revenue is recognised when the service is provided.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

  
2.5

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is reocgnised in profit of loss.

Page 3

 
RYE BAY CONSULTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
RYE BAY CONSULTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
644



At 31 December 2023

644



Depreciation


Charge for the year on owned assets
215



At 31 December 2023

215



Net book value



At 31 December 2023
429



At 31 December 2022
-


5.


Fixed asset investments




The fair value of the investment propety has been arrived at on the basis of a valuation carried out as at 31 December 2023 by the Director. The valuation was made on an open market value basis by reference to market evidence of transactions for prices of similar properties.


Investment property

£



Cost or valuation


At 1 January 2023
39,593


Revaluations
15,407



At 31 December 2023
55,000





6.


Debtors

2023
2022
£
£


Other debtors
411
560

411
560


Page 5

 
RYE BAY CONSULTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,800

Other taxation and social security
1,082
180

Obligations under finance lease and hire purchase contracts
295
-

Other creditors
1,177
4,747

Accruals and deferred income
3,410
2,070

5,964
8,797


Page 6

 
RYE BAY CONSULTING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



9.


Reserves

Other reserves

The amount included within Other reserves are non-distributable.

 
Page 7