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Company No: 12475017 (England and Wales)

R & K CONSULTANCY SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

R & K CONSULTANCY SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

R & K CONSULTANCY SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
R & K CONSULTANCY SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 21,255 26,179
21,255 26,179
Current assets
Debtors 4 29,410 40,493
Cash at bank and in hand 2,782 32,412
32,192 72,905
Creditors: amounts falling due within one year 5 ( 19,430) ( 28,701)
Net current assets 12,762 44,204
Total assets less current liabilities 34,017 70,383
Provision for liabilities 6, 7 ( 5,314) ( 4,974)
Net assets 28,703 65,409
Capital and reserves
Called-up share capital 100 100
Profit and loss account 28,603 65,309
Total shareholders' funds 28,703 65,409

For the financial 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.

Directors' responsibilities:

The financial statements of R & K Consultancy Services Limited (registered number: 12475017) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Richard Harvey Waggott
Director

22 October 2024

R & K CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
R & K CONSULTANCY SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R & K Consultancy Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 The Courtyard Wyncolls Road, Severalls Industrial Park, Colchester, CO4 9PE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 33,495 1,024 3,632 38,151
Additions 0 0 2,202 2,202
Disposals 0 0 ( 726) ( 726)
At 31 March 2024 33,495 1,024 5,108 39,627
Accumulated depreciation
At 01 April 2023 7,850 1,017 3,105 11,972
Charge for the financial year 6,411 7 486 6,904
Disposals 0 0 ( 504) ( 504)
At 31 March 2024 14,261 1,024 3,087 18,372
Net book value
At 31 March 2024 19,234 0 2,021 21,255
At 31 March 2023 25,645 7 527 26,179

4. Debtors

2024 2023
£ £
Trade debtors 16,441 34,890
Amounts owed by directors 2,619 0
Prepayments 7,121 5,503
Other debtors 3,229 100
29,410 40,493

5. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 10,923 23,595
Other taxation and social security 1,304 4,003
Other creditors 7,203 1,103
19,430 28,701

6. Provision for liabilities

2024 2023
£ £
Deferred tax 5,314 4,974

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 4,974) ( 6,279)
(Charged)/credited to the Income Statement ( 340) 1,305
At the end of financial year ( 5,314) ( 4,974)

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
R Waggott 2,619 0

At 31st March 2024, a director owed the company £2,619 (2023 - £0). This loan was interest free.