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Registered number: 09944065 (England and Wales)














JEFFREYM CONSULTING LTD

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
JEFFREYM CONSULTING LTD
 
 
COMPANY INFORMATION


Director
J A McCannon 




Registered number
09944065



Registered office
Birchin Court
5th Floor

19-25 Birchin Lane

London

England

EC3V 9DU




Independent auditors
ZEDRA Corporate Reporting Services (UK) Limited





 
JEFFREYM CONSULTING LTD
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 5


 
JEFFREYM CONSULTING LTD
REGISTERED NUMBER:09944065

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
-

  
-
-

Current assets
  

Debtors: amounts falling due within one year
 5 
180,563
218,696

Bank and cash balances
  
122,889
25,602

  
303,452
244,298

Creditors: amounts falling due within one year
 6 
(55,244)
(38,255)

Net current assets
  
 
 
248,208
 
 
206,043

Total assets less current liabilities
  
248,208
206,043

  

Net assets
  
248,208
206,043


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
248,207
206,042

  
248,208
206,043


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 by: 

J A McCannon
Director

Date: 30 September 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
JEFFREYM CONSULTING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

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:

 
1.2

Going concern

The Company is in a net asset position at the end of the financial year. Despite being in a net asset position, the entity remains reliant on continued support from its parent company, JeffreyM Consulting, LLC. The director has assessed the expected future cash requirements of the Company in conjunction with the forecasts of the parent company, for at least 12 months from the date of signing these financial statements, and has concluded that the required support remains available to the Company. 
The Company has received written confirmation from its parent company that it will continue to provide financial support for a period of at least 12 months from the date of signing these financial statements. For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

 
1.3

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover is recognised on a cost plus 6% basis, in line with the intercompany service agreement with the parent company. Intercompany turnover is recognised when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the intercompany service agreement;
the costs incurred under the intercompany service agreement can be measured reliably.

 
1.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 2

 
JEFFREYM CONSULTING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.5

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 balance sheet date in the countries where the Company operates and generates income.

 
1.6

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.

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.

The estimated useful lives range as follows:

Computer equipment
-
3
years

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.

 
1.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.

  
1.8

Creditors

Short term creditors are measured at the transaction price. 

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash held on deposit by service providers is included within bank and cash balances, as these amounts are highly liquid and repayable without penalty on notice of not more than 24 hours.

Page 3

 
JEFFREYM CONSULTING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 September 2024 by Nick Whitehead FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.


3.


Employees




The average monthly number of employees during the year was 8 (2022 - 5).


4.


Tangible fixed assets





Computer equipment

£





At 1 January 2023
8,738


Disposals
(8,738)



At 31 December 2023

-





At 1 January 2023
8,738


Disposals
(8,738)



At 31 December 2023

-



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 4

 
JEFFREYM CONSULTING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
180,563
218,696

180,563
218,696



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
968
3,582

Corporation tax
12,033
6,590

Other taxation and social security
25,445
12,776

Other creditors
1,798
1,027

Accruals and deferred income
15,000
14,280

55,244
38,255



7.


Controlling party

JeffreyM Consulting, LLC. is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 600 University St, Suite 601, Seattle, WA 98101, USA.


8.


Post balance sheet events

There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved. 

 
Page 5