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COMPANY REGISTRATION NUMBER: 05488849
Sophie Norton Consulting Limited
Filleted Unaudited Financial Statements
30 June 2024
Sophie Norton Consulting Limited
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Sophie Norton Consulting Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,698
3,875
Current assets
Debtors
6
11,473
13,330
Cash at bank and in hand
66,668
117,224
--------
---------
78,141
130,554
Creditors: amounts falling due within one year
7
( 16,390)
( 72,233)
--------
---------
Net current assets
61,751
58,321
--------
--------
Total assets less current liabilities
64,449
62,196
Creditors: amounts falling due after more than one year
8
( 390)
Provisions
Taxation including deferred tax
( 536)
( 747)
--------
--------
Net assets
63,913
61,059
--------
--------
Sophie Norton Consulting Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
63,911
61,057
--------
--------
Shareholder funds
63,913
61,059
--------
--------
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.
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 November 2024 , and are signed on behalf of the board by:
S Norton
Director
Company registration number: 05488849
Sophie Norton Consulting Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service at the end of the reporting period. When the outcome of a transaction involving the rendering of sevices 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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% per annum of reducing balance
Impairment of fixed assets
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 July 2023
11,548
Additions
130
--------
At 30 June 2024
11,678
--------
Depreciation
At 1 July 2023
7,673
Charge for the year
1,307
--------
At 30 June 2024
8,980
--------
Carrying amount
At 30 June 2024
2,698
--------
At 30 June 2023
3,875
--------
6. Debtors
2024
2023
£
£
Trade debtors
5,504
8,070
Other debtors
5,969
5,260
--------
--------
11,473
13,330
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
391
520
Social security and other taxes
15,236
20,101
Other creditors
763
51,612
--------
--------
16,390
72,233
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loan
390
----
----
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
S Norton
( 759)
42,140
( 41,530)
( 149)
----
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
S Norton
( 601)
27,000
( 27,158)
( 759)
----
--------
--------
----
No interest has been charged on the amounts advanced.