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Registered number: 06523752









PRIVILEGE CONSULTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PRIVILEGE CONSULTING LIMITED
REGISTERED NUMBER: 06523752

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
3,500
3,500

  
3,500
3,500

Current assets
  

Cash at bank and in hand
  
23,640
23,640

  
23,640
23,640

Creditors: amounts falling due within one year
  
(23,242)
(23,242)

Net current assets
  
 
 
398
 
 
398

Total assets less current liabilities
  
3,898
3,898

  

Net assets
  
3,898
3,898


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
3,896
3,896

  
3,898
3,898


Page 1

 
PRIVILEGE CONSULTING LIMITED
REGISTERED NUMBER: 06523752
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J N Wilson
Director

Date: 8 November 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
PRIVILEGE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Privilege Consulting Limited is a private company limited by shares incorporated in England and Wales. 

The address of its registered office is:

Ver House
High Street
Redbourn
St Albans
AL3 7LE

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
PRIVILEGE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.



The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
3,500



At 31 March 2024

3,500






Net book value



At 31 March 2024
3,500



At 31 March 2023
3,500



Page 4

 
PRIVILEGE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
2,668



At 31 March 2024

2,668



Depreciation


At 1 April 2023
2,668



At 31 March 2024

2,668



Net book value



At 31 March 2024
-



At 31 March 2023
-


5.


Controlling party

The Company's immediate parent is SCG Cloud Limited, incorporated in England and Wales.
The parent of the smallest group for which consolidated accounts are prepared is Southern Communications Group Limited. These financial statements are available upon request from Glebe Farm, Down Street, Dummer, Basingstoke, Hampshire RG25 2AD.
The ultimate parent Company is Saint Topco Limited. The Directors believe there to be no ultimate controlling party.

Page 5