Perspective Economics Limited NI649980 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of providing economic consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true NI649980 2023-01-01 2023-12-31 NI649980 2023-12-31 NI649980 bus:OrdinaryShareClass1 2023-12-31 NI649980 core:CurrentFinancialInstruments 2023-12-31 NI649980 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI649980 core:FurnitureFittings 2023-12-31 NI649980 core:OfficeEquipment 2023-12-31 NI649980 bus:SmallEntities 2023-01-01 2023-12-31 NI649980 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI649980 bus:FullAccounts 2023-01-01 2023-12-31 NI649980 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI649980 bus:RegisteredOffice 2023-01-01 2023-12-31 NI649980 bus:Director1 2023-01-01 2023-12-31 NI649980 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI649980 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI649980 core:ComputerEquipment 2023-01-01 2023-12-31 NI649980 core:FurnitureFittings 2023-01-01 2023-12-31 NI649980 core:OfficeEquipment 2023-01-01 2023-12-31 NI649980 countries:NorthernIreland 2023-01-01 2023-12-31 NI649980 2022-12-31 NI649980 core:FurnitureFittings 2022-12-31 NI649980 core:OfficeEquipment 2022-12-31 NI649980 2022-01-01 2022-12-31 NI649980 2022-12-31 NI649980 bus:OrdinaryShareClass1 2022-12-31 NI649980 core:CurrentFinancialInstruments 2022-12-31 NI649980 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI649980 core:FurnitureFittings 2022-12-31 NI649980 core:OfficeEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI649980

Perspective Economics Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Perspective Economics Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Perspective Economics Limited

(Registration number: NI649980)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

16,006

7,762

Current assets

 

Debtors

5

90,967

41,933

Cash at bank and in hand

 

336,594

235,544

 

427,561

277,477

Creditors: Amounts falling due within one year

6

(137,589)

(81,219)

Net current assets

 

289,972

196,258

Net assets

 

305,978

204,020

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

305,878

203,920

Shareholders' funds

 

305,978

204,020

For the financial year ending 31 December 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Jonathan Hobson
Director

 

Perspective Economics Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
River House
48-60 High Street
Belfast
County Antrim
BT1 2BE
Northern Ireland

Company Registration Number is NI649980.

The presentation currency is £ Sterling

The level of rounding is to the nearest £ Sterling.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Perspective Economics Limited

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

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Tangible assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Asset class

Depreciation method and rate

Office Equipment

Over 4 years

Computer Equipment

Over 4 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Perspective Economics Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Perspective Economics Limited

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

12,257

1,767

14,024

Additions

11,457

857

12,314

At 31 December 2023

23,714

2,624

26,338

Depreciation

At 1 January 2023

5,460

802

6,262

Charge for the year

3,498

572

4,070

At 31 December 2023

8,958

1,374

10,332

Carrying amount

At 31 December 2023

14,756

1,250

16,006

At 31 December 2022

6,797

965

7,762

5

Debtors

Current

2023
£

2022
£

Trade debtors

53,806

23,088

Prepayments

37,161

18,845

 

90,967

41,933

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,340

-

Taxation and social security

131,877

73,054

Other creditors

2,372

8,165

137,589

81,219

 

Perspective Economics Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Class A of £1 each

51

51

51

51

Ordinary Class B of £1 each

49

49

49

49

 

100

100

100

100

8

Related party transactions

At 1 January 2023

Advances to director

Repayments by director

At 31 December 2023

£

£

£

£

Jonathan Hobson

(812)

85,948

(86,000)

(865)

Sam Donaldson

(676)

89,125

(89,000)

(551)

The above loans are unsecured, interest free and repayable on demand.