2023-08-152024-08-312024-08-31false15074281ALTERA CONSULTING 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ALTERA CONSULTING LTD

Registered Number
15074281
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

ALTERA CONSULTING LTD
Company Information
for the period from 15 August 2023 to 31 August 2024

Director

Olasemeji Fawehinmi

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

15074281 (England and Wales)
ALTERA CONSULTING LTD
Balance Sheet as at
31 August 2024

Notes

2024

£

£

Fixed assets
Tangible assets33,156
Investments4100
3,256
Current assets
Debtors528,874
Cash at bank and on hand28,324
57,198
Creditors amounts falling due within one year6(40,979)
Net current assets (liabilities)16,219
Total assets less current liabilities19,475
Net assets19,475
Capital and reserves
Called up share capital1
Profit and loss account19,474
Shareholders' funds19,475
The financial statements were approved and authorised for issue by the Director on 6 October 2024, and are signed on its behalf by:
Olasemeji Fawehinmi
Director
Registered Company No. 15074281
ALTERA CONSULTING LTD
Notes to the Financial Statements
for the period ended 31 August 2024

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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions4,7344,734
At 31 August 244,7344,734
Depreciation and impairment
Charge for year1,5781,578
At 31 August 241,5781,578
Net book value
At 31 August 243,1563,156
At 14 August 23--
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions100100
At 31 August 24100100
Net book value
At 31 August 24100100

Notes

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

2024

£
Trade debtors / trade receivables19,674
Amounts owed by associates and joint ventures / participating interests3,900
Other debtors5,300
Total28,874
6.Creditors: amounts due within one year

2024

£
Taxation and social security22,856
Other creditors17,436
Accrued liabilities and deferred income687
Total40,979