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Company registration number: 10145846
Daniel Quartly Consultancy Ltd
Unaudited filleted financial statements
30 April 2024
Daniel Quartly Consultancy Ltd
Contents
Statement of financial position
Notes to the financial statements
Daniel Quartly Consultancy Ltd
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 47,161 57,095
_______ _______
47,161 57,095
Current assets
Debtors 6 918,251 898,475
Cash at bank and in hand 1,096,619 421,682
_______ _______
2,014,870 1,320,157
Creditors: amounts falling due
within one year 7 ( 514,877) ( 544,726)
_______ _______
Net current assets 1,499,993 775,431
_______ _______
Total assets less current liabilities 1,547,154 832,526
Creditors: amounts falling due
after more than one year 8 ( 27,306) ( 33,456)
Provisions for liabilities - ( 699)
_______ _______
Net assets 1,519,848 798,371
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,519,847 798,370
_______ _______
Shareholders funds 1,519,848 798,371
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr Daniel Quartly
Director
Company registration number: 10145846
Daniel Quartly Consultancy Ltd
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Victoria House 4th Floor, Victoria Road, Chelmsford, Essex, CM1 1JR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Motor vehicles - 25 % straight line
Computer equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Plant and machinery Motor vehicles Computer equipment Total
£ £ £ £
Cost
At 1 May 2023 1,341 76,154 3,249 80,744
Additions 2,317 11,353 - 13,670
_______ _______ _______ _______
At 30 April 2024 3,658 87,507 3,249 94,414
_______ _______ _______ _______
Depreciation
At 1 May 2023 514 21,996 1,139 23,649
Charge for the year 915 21,877 812 23,604
_______ _______ _______ _______
At 30 April 2024 1,429 43,873 1,951 47,253
_______ _______ _______ _______
Carrying amount
At 30 April 2024 2,229 43,634 1,298 47,161
_______ _______ _______ _______
At 30 April 2023 827 54,158 2,110 57,095
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 880,051 858,948
Other debtors 38,200 39,527
_______ _______
918,251 898,475
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 651 -
Trade creditors 133,731 152,549
Corporation tax 286,137 181,333
Social security and other taxes 78,512 69,550
Other creditors 15,846 141,294
_______ _______
514,877 544,726
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 27,306 33,456
_______ _______
9. Other financial commitments
The company has a Receivables Finance Agreement with Paragon Business Finance PLC. The debts are assigned to Paragon Business Finance PLC, secured by a fixed and floating charge over all the assets of the Company. As at the year end the balance outstanding shown within 'Other creditors' is £7,368 (2023 : £131,897).
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Daniel Quartly - - -
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr Daniel Quartly ( 39,500) 39,500 -
_______ _______ _______