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Registered number: 05401519
Wheeler Associates (Management Consultants) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Focal Business Group Limited
Chartered Institue of Management Accountants
4A Church Street
Market Harborough
Leicestershire
LE16 7AA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05401519
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,711 16,065
Tangible Assets 5 601 671
11,312 16,736
CURRENT ASSETS
Debtors 6 18,078 -
Cash at bank and in hand - 423
18,078 423
Creditors: Amounts Falling Due Within One Year 7 (65,096 ) (57,774 )
NET CURRENT ASSETS (LIABILITIES) (47,018 ) (57,351 )
TOTAL ASSETS LESS CURRENT LIABILITIES (35,706 ) (40,615 )
Creditors: Amounts Falling Due After More Than One Year 8 (162,872 ) (162,872 )
NET LIABILITIES (198,578 ) (203,487 )
CAPITAL AND RESERVES
Called up share capital 10 10
Profit and Loss Account (198,588 ) (203,497 )
SHAREHOLDERS' FUNDS (198,578) (203,487)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Kevin Wheeler
Director
29 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wheeler Associates (Management Consultants) Limited Registered number 05401519 is a limited by shares company incorporated in England & Wales. The Registered Office is 4a Chuch Street, Market Harborough, Leicestershire, LE16 7AA.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 107,083
As at 31 March 2024 107,083
Amortisation
As at 1 April 2023 91,018
Provided during the period 5,354
As at 31 March 2024 96,372
Net Book Value
As at 31 March 2024 10,711
As at 1 April 2023 16,065
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 448 11,347 11,795
Additions - 129 129
As at 31 March 2024 448 11,476 11,924
Depreciation
As at 1 April 2023 439 10,685 11,124
Provided during the period 2 197 199
As at 31 March 2024 441 10,882 11,323
Net Book Value
As at 31 March 2024 7 594 601
As at 1 April 2023 9 662 671
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,975 -
Other debtors 103 -
18,078 -
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10 -
Other creditors 61,744 54,571
Taxation and social security 3,342 3,203
65,096 57,774
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans (Long term liabilities - creditors > 1 year) 162,872 162,872
Page 5