2022-12-312023-12-302023-12-30false06819776M & S CONSULTING (LONDON) 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M & S CONSULTING (LONDON) LIMITED

Registered Number
06819776
(England and Wales)

Unaudited Financial Statements for the Year ended
30 December 2023

M & S CONSULTING (LONDON) LIMITED
Company Information
for the year from 31 December 2022 to 30 December 2023

Directors

Mr S Blake
Mrs M Blake

Registered Address

3 Coldbath Square
London
EC1R 5HL

Registered Number

06819776 (England and Wales)
M & S CONSULTING (LONDON) LIMITED
Balance Sheet as at
30 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,7073,571
Investments4100100
4,8073,671
Current assets
Stocks1,880,0001,880,000
Debtors52,397,5892,399,270
Cash at bank and on hand19,79271,151
4,297,3814,350,421
Creditors amounts falling due within one year6(2,355,959)(2,569,002)
Net current assets (liabilities)1,941,4221,781,419
Total assets less current liabilities1,946,2291,785,090
Creditors amounts falling due after one year7(225,000)(225,000)
Net assets1,721,2291,560,090
Capital and reserves
Called up share capital3030
Other reserves2121
Profit and loss account1,721,1781,560,039
Shareholders' funds1,721,2291,560,090
The financial statements were approved and authorised for issue by the Board of Directors on 23 September 2024, and are signed on its behalf by:
Mr S Blake
Director
Registered Company No. 06819776
M & S CONSULTING (LONDON) LIMITED
Notes to the Financial Statements
for the year ended 30 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The financial statements report the financial results only of the company and are presented in Sterling (£).
Statement of compliance
The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue from rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: • the amount of revenue can be measured reliably; • it is probable that the Company will receive the consideration due under the contract; • the stage of completion of the contract at the end of the reporting period can be measured reliably; and • the costs incurred and the costs to complete the contract can be measured reliably.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Current taxation
The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, 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. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Tangible fixed assets and depreciation
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. 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. 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 all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, 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 for a similar debt instrument. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the profit and loss account. Financial assets are derecognised when (i) the contractual rights to the cashflows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (iii) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees
The average number of employees include directors.

20232022
Average number of employees during the year22
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 31 December 226,6786,678
At 30 December 236,6786,678
Depreciation and impairment
At 31 December 223,1073,107
Charge for year(1,136)(1,136)
At 30 December 231,9711,971
Net book value
At 30 December 234,7074,707
At 30 December 223,5713,571
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 31 December 22100100
At 30 December 23100100
Net book value
At 30 December 23100100
At 30 December 22100100

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Other debtors2,319,3502,353,200
Prepayments and accrued income78,23946,070
Total2,397,5892,399,270
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables5103,210
Bank borrowings and overdrafts683,345667,288
Taxation and social security119,39170,829
Other creditors1,481,0671,772,397
Accrued liabilities and deferred income71,64655,278
Total2,355,9592,569,002
Bank borrowings are secured by properties held as stock by the company.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts225,000225,000
Total225,000225,000
Bank borrowings are secured by properties held as stock by the company.
8.Related party transactions
During the year the company paid expenses on behalf of the directors totalling £915,789 (2022: £872,651) and the directors made payments on behalf of the company totalling £648,206 (2022: £608,484). At the balance sheet date the company owed £1,011,424 (2022: £1,279,007) to the directors. At the balance sheet date the company owed a Trust of which the directors are trustees £301,853 (2022: £301,853).