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Registration number: 08617945

Derwan Consultants Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Derwan Consultants Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Derwan Consultants Ltd

Company Information

Directors

A Astovasadourian

J J Astovasadourian

Registered office

85 Great Portland Street
London
W1W 7LT

Accountants

Sable & Argent Limited
Chartered Accountants
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

Derwan Consultants Ltd

(Registration number: 08617945)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,425

9,257

Current assets

 

Debtors

5

38,382

293

Cash at bank and in hand

 

97,281

143,493

 

135,663

143,786

Creditors: Amounts falling due within one year

6

(91,288)

(122,383)

Net current assets

 

44,375

21,403

Total assets less current liabilities

 

54,800

30,660

Provisions for liabilities

(1,337)

(700)

Net assets

 

53,463

29,960

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

53,453

29,950

Shareholders' funds

 

53,463

29,960

For the financial year ending 31 July 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 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 22 August 2024 and signed on its behalf by:
 

A Astovasadourian
Director

   
     
 

Derwan Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
85 Great Portland Street
London
W1W 7LT

The principal place of business is:
67 Bramley Drive
Hartley Wintney
Hampshire
RG27 8ZF
England

These financial statements were authorised for issue by the Board on 22 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax where applicable.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Derwan Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% p.a. on cost

Building in the course of construction

not depreciated

Land and buildings

10% p.a. on cost

Plant and machinery

10% p.a. on cost

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 services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. Provision is made for impairment of trade debtors if it is established that there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade 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.

 

Derwan Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons (including directors) employed by the company in the year, was 2 (2023: 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

7,704

6,179

3,046

16,929

Additions

495

3,290

-

3,785

At 31 July 2024

8,199

9,469

3,046

20,714

Depreciation

At 1 August 2023

2,130

4,626

916

7,672

Charge for the year

691

1,621

305

2,617

At 31 July 2024

2,821

6,247

1,221

10,289

Carrying amount

At 31 July 2024

5,378

3,222

1,825

10,425

At 31 July 2023

5,574

1,553

2,130

9,257

Included within the net book value of land and buildings above is £5,379 (2023: £5,573) in respect of freehold land and buildings.
 

 

Derwan Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

37,944

-

Other debtors

438

293

 

38,382

293

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

20,124

17,796

Accruals and deferred income

37,908

52,653

Other creditors

33,256

51,934

91,288

122,383

7

Provisions for liabilities

Deferred tax
£

Total
£

At 1 August 2023

700

700

Increase (decrease) in existing provisions

637

637

At 31 July 2024

1,337

1,337

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A ordinary shares of £1 each

9

9

9

9

B ordinary shares of £1 each

1

1

1

1

10

10

10

10