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Company registration number: 08707524
Approved Consultant Services Ltd
Unaudited filleted financial statements
30 September 2023
Approved Consultant Services Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Approved Consultant Services Ltd
Directors and other information
Directors Mr J O Calland
Mr P J Timmins
Mr S J Remo
Company number 08707524
Registered office Fora
16-19 Eastcastle Street
London
W1W 8DY
Approved Consultant Services Ltd
Statement of financial position
30 September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 231,723 11,169
_______ _______
231,723 11,169
Current assets
Debtors 6 5,072,866 3,175,353
Cash at bank and in hand 213,113 500,091
_______ _______
5,285,979 3,675,444
Creditors: amounts falling due
within one year 7 ( 1,960,822) ( 869,848)
_______ _______
Net current assets 3,325,157 2,805,596
_______ _______
Total assets less current liabilities 3,556,880 2,816,765
Creditors: amounts falling due
after more than one year 8 ( 399,524) ( 105,994)
_______ _______
Net assets 3,157,356 2,710,771
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,157,256 2,710,671
_______ _______
Shareholders funds 3,157,356 2,710,771
_______ _______
For the year ending 30 September 2023 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 October 2024 , and are signed on behalf of the board by:
Mr J O Calland
Director
Company registration number: 08707524
Approved Consultant Services Ltd
Notes to the financial statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fora, 16-19 Eastcastle Street, London, W1W 8DY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
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. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2022: 27 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 October 2022 31,583 - 31,583
Additions 1,865 224,995 226,860
_______ _______ _______
At 30 September 2023 33,448 224,995 258,443
_______ _______ _______
Depreciation
At 1 October 2022 20,414 - 20,414
Charge for the year 6,306 - 6,306
_______ _______ _______
At 30 September 2023 26,720 - 26,720
_______ _______ _______
Carrying amount
At 30 September 2023 6,728 224,995 231,723
_______ _______ _______
At 30 September 2022 11,169 - 11,169
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 21,792 49,926
Other debtors 5,051,074 3,125,427
_______ _______
5,072,866 3,175,353
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 442,335 61,623
Trade creditors 12,404 54,070
Corporation tax 662,965 607,034
Social security and other taxes 162,971 144,121
Other creditors 680,147 3,000
_______ _______
1,960,822 869,848
_______ _______
Merchant Money Ltd has a debenture dated 18 April 2023 over all monies due or to become due from the company.
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 399,524 105,994
_______ _______
Merchant Money Ltd has a debenture dated 18 April 2023 over all monies due or to become due from the company.
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 37,828 28,733
Later than 1 year and not later than 5 years 19,468 3,893
_______ _______
57,296 32,626
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J O Calland 623,790 606,284 ( 623,790) 606,284
Mr P J Timmins 76,872 274,372 ( 76,872) 274,372
Mr S J Remo 77,587 275,087 ( 77,587) 275,087
_______ _______ _______ _______
778,249 1,155,743 ( 778,249) 1,155,743
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr J O Calland 576,447 623,790 ( 576,447) 623,790
Mr P J Timmins 153,390 76,872 ( 153,390) 76,872
Mr S J Remo 153,790 77,587 ( 153,790) 77,587
_______ _______ _______ _______
883,627 778,249 ( 883,627) 778,249
_______ _______ _______ _______