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COMPANY REGISTRATION NUMBER: 6099834
Ken Chad Consulting Ltd
Unaudited Financial Statements
29 February 2024
Ken Chad Consulting Ltd
Financial Statements
Year ended 29 February 2024
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Ken Chad Consulting Ltd
Directors' Report
Year ended 29 February 2024
The directors present their report and the unaudited financial statements of the company for the year ended 29 February 2024 .
Directors
The directors who served the company during the year were as follows:
Mr K Chad
Ms L M Edmonds
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 November 2024 and signed on behalf of the board by:
Mr K Chad
Director
Registered office:
Ridgewell & Boreham
24a Crown Street
Brentwood
Essex
CM14 4LU
Ken Chad Consulting Ltd
Statement of Income and Retained Earnings
Year ended 29 February 2024
2024
2023
Note
£
£
Turnover
39,352
51,842
Cost of sales
7,809
5,134
--------
--------
Gross profit
31,543
46,708
Administrative expenses
26,657
22,660
--------
--------
Operating profit
4,886
24,048
Other interest receivable and similar income
28
12
--------
--------
Profit before taxation
5
4,914
24,060
Tax on profit
959
4,603
-------
--------
Profit for the financial year and total comprehensive income
3,955
19,457
-------
--------
Dividends paid and payable
( 11,800)
( 20,000)
Retained earnings at the start of the year
16,093
16,636
--------
--------
Retained earnings at the end of the year
8,248
16,093
--------
--------
All the activities of the company are from continuing operations.
Ken Chad Consulting Ltd
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
535
668
Current assets
Debtors
7
5,928
14,811
Cash at bank and in hand
9,531
11,365
--------
--------
15,459
26,176
Creditors: amounts falling due within one year
8
7,646
10,651
--------
--------
Net current assets
7,813
15,525
-------
--------
Total assets less current liabilities
8,348
16,193
-------
--------
Net assets
8,348
16,193
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
8,248
16,093
-------
--------
Shareholder funds
8,348
16,193
-------
--------
These financial statements have been prepared 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'.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 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 were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr K Chad
Director
Company registration number: 6099834
Ken Chad Consulting Ltd
Notes to the Financial Statements
Year ended 29 February 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 Ridgewell & Boreham, 24a Crown Street, Brentwood, Essex, CM14 4LU.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
20% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
133
167
----
----
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2023 and 29 February 2024
1,360
1,360
-------
-------
Depreciation
At 1 March 2023
692
692
Charge for the year
133
133
-------
-------
At 29 February 2024
825
825
-------
-------
Carrying amount
At 29 February 2024
535
535
-------
-------
At 28 February 2023
668
668
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
4,614
14,811
Other debtors
1,314
-------
--------
5,928
14,811
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
503
57
Corporation tax
954
4,598
Social security and other taxes
4,032
4,082
Other creditors
2,157
1,914
-------
--------
7,646
10,651
-------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Chad
( 73)
( 243)
( 316)
----
----
----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr K Chad
( 1,264)
1,191
( 73)
-------
-------
----
10. Related party transactions
The company was under the control of Mr Chad and Ms Edmonds throughout the current and previous year. They are the joint shareholders. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.