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Registered number: 08251445
The Ambitious Consultancy Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08251445
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 132,734 91,956
132,734 91,956
CURRENT ASSETS
Debtors 5 336,523 262,718
Cash at bank and in hand 156,502 182,049
493,025 444,767
Creditors: Amounts Falling Due Within One Year 6 (264,030 ) (296,811 )
NET CURRENT ASSETS (LIABILITIES) 228,995 147,956
TOTAL ASSETS LESS CURRENT LIABILITIES 361,729 239,912
Creditors: Amounts Falling Due After More Than One Year 7 (96,616 ) (21,575 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,705 ) (18,123 )
NET ASSETS 231,408 200,214
CAPITAL AND RESERVES
Called up share capital 10 20 20
Capital redemption reserve 10 10
Profit and Loss Account 231,378 200,184
SHAREHOLDERS' FUNDS 231,408 200,214
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Elisabeth Anderson
Director
Ms Sarah Woodhouse
Director
6 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Ambitious Consultancy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08251445 . The registered office is Courtyard House 26 Oakfield Road, Clifton, Bristol, BS8 2AT.
The presentation currency of the financial statements is the Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the revenue generated from the sale of services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.
Revenue from services is recognised when services have been provided and the contractual right to the consideration has been earned.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses
Depreciation is provided at following annual rates in order to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter with a full charge on the year of acquisition.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. Financial Instruments
Financial liabilities and equity instruments are classified and accounted for according to the substance of contractual arrangements, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.8. Pensions
The company operates a defined pension contribution scheme. The company made contributions to the personal pension schemes of the directors. Contributions paid are charged to profit or loss in the period to which they relate.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
The average number of employees, including directors, during the year was 19 (2023: 16)
19 16
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 119,564 4,736 30,215 154,515
Additions 106,600 520 10,340 117,460
Disposals (59,782 ) - - (59,782 )
As at 30 April 2024 166,382 5,256 40,555 212,193
...CONTINUED
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Depreciation
As at 1 May 2023 42,134 2,616 17,809 62,559
Provided during the period 29,117 881 7,969 37,967
Disposals (21,067 ) - - (21,067 )
As at 30 April 2024 50,184 3,497 25,778 79,459
Net Book Value
As at 30 April 2024 116,198 1,759 14,777 132,734
As at 1 May 2023 77,430 2,120 12,406 91,956
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 116,198 77,430
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 290,103 218,837
Other debtors 46,420 43,881
336,523 262,718
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 43,333 69,763
Trade creditors 52,147 60,354
Bank loans and overdrafts 10,178 9,906
Other creditors 18,515 9,429
Taxation and social security 139,857 147,359
264,030 296,811
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 85,265 -
Bank loans 11,351 21,575
96,616 21,575
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 52,220 72,661
Later than one year and not later than five years 96,436 -
148,656 72,661
Less: Finance charges allocated to future periods 20,058 2,898
128,598 69,763
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 18,123 18,123
Deferred taxation 15,582 15,582
Balance at 30 April 2024 33,705 33,705
The provision for deferred taxation is made up of accelerated capital allowances.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 31,500 -
Later than one year and not later than five years 7,875 -
39,375 -
12. Related Party Transactions
During the year, total dividends of £83,000 (2023: £53,000) were paid to the directors.
Mrs E Anderson and Ms S Woodhouse jointly control the company by virtue of their shareholdings.
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