2023-03-012024-02-292024-02-29false11190688INNES & STONE CONSULTANCY 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INNES & STONE CONSULTANCY LIMITED

Registered Number
11190688
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

INNES & STONE CONSULTANCY LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

INNES, Jo-Anne
STONE, Graham Russell

Registered Address

5 & 7 Pellew Arcade
Teign Street
Teignmouth
TQ14 8EB

Registered Number

11190688 (England and Wales)
INNES & STONE CONSULTANCY LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets322,68112,375
22,68112,375
Current assets
Debtors4,532,66214,916
Cash at bank and on hand2,04320,482
34,70535,398
Creditors amounts falling due within one year6(14,104)(12,086)
Net current assets (liabilities)20,60123,312
Total assets less current liabilities43,28235,687
Creditors amounts falling due after one year7(7,444)(10,398)
Net assets35,83825,289
Capital and reserves
Called up share capital102102
Profit and loss account35,73625,187
Shareholders' funds35,83825,289
The financial statements were approved and authorised for issue by the Board of Directors on 21 November 2024, and are signed on its behalf by:
INNES, Jo-Anne
Director
STONE, Graham Russell
Director

Registered Company No. 11190688
INNES & STONE CONSULTANCY LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 March 2316,500-16,500
Additions14,6001,19815,798
At 29 February 2431,1001,19832,298
Depreciation and impairment
At 01 March 234,125-4,125
Charge for year5,456365,492
At 29 February 249,581369,617
Net book value
At 29 February 2421,5191,16222,681
At 28 February 2312,375-12,375
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables32,66114,916
Other debtors1-
Total32,66214,916
5.Debtors: amounts due after one year
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,7404,633
Bank borrowings and overdrafts87238
Taxation and social security7,0945,652
Accrued liabilities and deferred income2,3981,763
Total14,10412,086
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,44410,398
Total7,44410,398
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
INNES, Jo-Anne3838,09737,699436
Directors Loan
STONE, Graham Russell08,0737,636437
Directors Loan
3846,17045,335873