1 July 2023 v2024.47.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC6331532023-07-012024-06-30SC6331532024-06-30SC6331532023-06-30SC633153core:WithinOneYear2024-06-30SC633153core:WithinOneYear2023-06-30SC633153core:ShareCapital2024-06-30SC633153core:ShareCapital2023-06-30SC633153core:RetainedEarningsAccumulatedLosses2024-06-30SC633153core:RetainedEarningsAccumulatedLosses2023-06-30SC633153bus:Director12023-07-012024-06-30SC633153core:OfficeEquipment2023-07-012024-06-30SC6331532022-07-012023-06-30SC633153core:PlantMachinery2024-06-30SC633153core:PlantMachinery2023-07-01SC633153core:PlantMachinery2023-07-012024-06-30SC633153core:PlantMachinery2023-06-30SC63315312023-07-012024-06-30SC633153countries:Scotland2023-07-012024-06-30SC633153bus:AuditExemptWithAccountantsReport2023-07-012024-06-30SC633153bus:PrivateLimitedCompanyLtd2023-07-012024-06-30SC633153bus:SmallEntities2023-07-012024-06-30SC633153bus:FullAccounts2023-07-012024-06-30
Company registration number:
SC633153
Philip Rycroft Consulting Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2024
DBFM
The Stables Studio, Hopetoun House, South Queensferry, West Lothian, EH30 9SL, United Kingdom
Philip Rycroft Consulting Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Philip Rycroft Consulting Ltd
Year ended
30 June 2024
As described on the statement of financial position, the Board of Directors of
Philip Rycroft Consulting Ltd
are responsible for the preparation of the
financial statements
for the year ended
30 June 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
DBFM
The Stables Studio
Hopetoun House
South Queensferry
West Lothian
EH30 9SL
United Kingdom
Date:
9 October 2024
Philip Rycroft Consulting Ltd
Statement of Financial Position
30 June 2024
20242023
Note££
Fixed assets    
Tangible assets 5 -  
60
 
Current assets    
Debtors 6
10,915
 
13,292
 
Investments 7
200,000
 
200,000
 
Cash at bank and in hand
45,666
 
50,636
 
256,581
 
263,928
 
Creditors: amounts falling due within one year 8
(7,765
)
(18,497
)
Net current assets
248,816
 
245,431
 
Total assets less current liabilities 248,816   245,491  
Capital and reserves    
Called up share capital
4
 
4
 
Profit and loss account
248,812
 
245,487
 
Shareholders funds
248,816
 
245,491
 
For the year ending
30 June 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
9 October 2024
, and are signed on behalf of the board by:
Philip Rycroft
Director
Company registration number:
SC633153
Philip Rycroft Consulting Ltd
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2023
and
30 June 2024
1,187
 
Depreciation  
At
1 July 2023
1,127
 
Charge
60
 
At
30 June 2024
1,187
 
Carrying amount  
At
30 June 2024
-  
At 30 June 2023
60
 

6 Debtors

20242023
££
Trade debtors
10,500
 
13,020
 
Other debtors
415
 
272
 
10,915
 
13,292
 

7 Investments

20242023
££
Other current asset investments
200,000
 
200,000
 

8 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
4,517
 
14,582
 
Other creditors
3,248
 
3,915
 
7,765
 
18,497