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Registration number: 07529019

Definition Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Definition Consulting Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Definition Consulting Limited

Company Information

Directors

Kirsty Forman

Kathryn Bistacchi

Registered office

XYZ Building
2 Hardman Blvd
Manchester
M3 3AQ

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

Definition Consulting Limited

(Registration number: 07529019)
Statement of Financial Position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

3,074

Current assets

 

Debtors

5

62,981

72,590

Cash at bank and in hand

 

76,181

80,226

 

139,162

152,816

Creditors: Amounts falling due within one year

6

(83,805)

(82,960)

Net current assets

 

55,357

69,856

Total assets less current liabilities

 

55,357

72,930

Creditors: Amounts falling due after more than one year

6

(27,476)

(32,773)

Provisions for liabilities

(365)

(365)

Net assets

 

27,516

39,792

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

27,514

39,790

Shareholders' funds

 

27,516

39,792

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................
Kathryn Bistacchi
Director

 

Definition Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and wale.

The address of its registered office is:
XYZ Building
2 Hardman Blvd
Manchester
M3 3AQ

These financial statements were authorised for issue by the Board on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Definition Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3

Staff numbers

The average number of persons employed by the (including directors) during the year was 7, (2023 - 7)

 

Definition Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

16,440

16,440

At 31 August 2024

16,440

16,440

Depreciation

At 1 September 2023

13,366

13,366

Charge for the year

3,074

3,074

At 31 August 2024

16,440

16,440

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

3,074

3,074

5

Debtors

Current

2024
£

2023
£

Trade debtors

61,982

71,592

Prepayments

999

998

 

62,981

72,590

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

5,500

5,500

Trade creditors

 

2,582

743

Taxation and social security

 

68,050

71,374

Other creditors

 

7,673

5,343

 

83,805

82,960

Creditors: amounts falling due after more than one year

 

Definition Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

27,476

32,773

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each of £1 each

2

2

2

2