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REGISTERED NUMBER: SC587475 (Scotland)




















The Innes Consultancy Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






The Innes Consultancy Limited (Registered number: SC587475)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Innes Consultancy Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: A J Innes
Mrs N Innes



REGISTERED OFFICE: 14 Newbattle Gardens
Dalkeith
Midlothian
EH22 3DR



REGISTERED NUMBER: SC587475 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: TSB Bank
16b Cameron Toll Shopping Centre
Lady Road
Edinburgh
EH16 5PB

The Innes Consultancy Limited (Registered number: SC587475)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,000 11,000
Tangible assets 5 2,058 3,038
13,058 14,038

CURRENT ASSETS
Debtors 6 40,434 53,573
Cash at bank 60,533 96,245
100,967 149,818
CREDITORS
Amounts falling due within one year 7 20,514 51,530
NET CURRENT ASSETS 80,453 98,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,511

112,326

PROVISIONS FOR LIABILITIES 392 760
NET ASSETS 93,119 111,566

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 93,019 111,466
93,119 111,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The Innes Consultancy Limited (Registered number: SC587475)

Balance Sheet - continued
29 February 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





A J Innes - Director


The Innes Consultancy Limited (Registered number: SC587475)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Innes Consultancy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents fees from the provision of professional and legal services, excluding value added tax. Revenue is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After recognition, intangible assets are measured annually at fair value. Gains on fair value are recognised in the fair value reserve, losses on fair value are written off to profit and loss for the period in which they arise.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


The Innes Consultancy Limited (Registered number: SC587475)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 11,000
NET BOOK VALUE
At 29 February 2024 11,000
At 28 February 2023 11,000

The Innes Consultancy Limited (Registered number: SC587475)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 6,914
Additions 422
At 29 February 2024 7,336
DEPRECIATION
At 1 March 2023 3,876
Charge for year 1,402
At 29 February 2024 5,278
NET BOOK VALUE
At 29 February 2024 2,058
At 28 February 2023 3,038

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,809 53,573
Other debtors 13,625 -
40,434 53,573

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 18,590 48,445
Other creditors 1,924 3,085
20,514 51,530

The Innes Consultancy Limited (Registered number: SC587475)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
A J Innes
Balance outstanding at start of year (1,199 ) (474 )
Amounts advanced 19,028 -
Amounts repaid (4,558 ) (725 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,271 (1,199 )

The balance on the director's current account is unsecured and repayable on demand. Interest is charged at 2% per annum until 5 April 2023 and thereafter at 2.25% per annum. The balance on the director's current account will be repaid in full by 30 November 2024.

9. ULTIMATE CONTROLLING PARTY

Birchlea Investments Limited (SC649913) is regarded by the director as being the company's ultimate parent company from 31 March 2020.