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Registration number: 03241481

Consultancy Express (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Consultancy Express (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Consultancy Express (UK) Limited

Company Information

Director

Mr Cris Boyce

Registered office

Blue Horizon
Ilsham Marine Drive
Torquay
Devon
TQ1 2HT

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Consultancy Express (UK) Limited

(Registration number: 03241481)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,780

884

Current assets

 

Debtors

5

42,441

42,853

Cash at bank and in hand

 

30,717

23,111

 

73,158

65,964

Creditors: Amounts falling due within one year

6

(2,249)

(1,787)

Net current assets

 

70,909

64,177

Total assets less current liabilities

 

72,689

65,061

Provisions for liabilities

(338)

(92)

Net assets

 

72,351

64,969

Capital and reserves

 

Called up share capital

7

25

25

Retained earnings

72,326

64,944

Shareholders' funds

 

72,351

64,969

For the financial 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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 November 2024
 

.........................................
Mr Cris Boyce
Director

 

Consultancy Express (UK) Limited

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

1

General information

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

The address of its registered office is:
Blue Horizon
Ilsham Marine Drive
Torquay
Devon
TQ1 2HT

These financial statements were authorised for issue by the director on 8 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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.

 

Consultancy Express (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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 balance sheet 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

Office equipment

25% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Consultancy Express (UK) Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Consultancy Express (UK) Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

4,171

4,171

Additions

1,489

1,489

At 29 February 2024

5,660

5,660

Depreciation

At 1 March 2023

3,287

3,287

Charge for the year

593

593

At 29 February 2024

3,880

3,880

Carrying amount

At 29 February 2024

1,780

1,780

At 28 February 2023

884

884

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

17,441

32,853

Other debtors

 

25,000

10,000

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,814

1,787

Accruals and deferred income

435

-

2,249

1,787

7

Share capital

Allotted, called up and fully paid shares

 

Consultancy Express (UK) Limited

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

 

2024

2023

 

No.

£

No.

£

Ordinary share class A of £1 each

20

20

20

20

Ordinary share class B of £1 each

5

5

5

5

 

25

25

25

25

8

Dividends

   

2024

 

2023

   

£

 

£

         

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £50.00 (2023 - £100.00) per each A shares

 

1,000

 

2,000

         

9

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr Cris Boyce

Directors loan

32,853

9,848

(25,260)

17,441

         
       

 

2023

At 1 March 2022
£

Repayments by director
£

At 28 February 2023
£

Mr Cris Boyce

Directors loan

33,612

(759)

32,853

       
     

 

Dividends paid to the director

   

2024
£

 

2023
£

Mr Cris Boyce

       

Interim dividend paid

 

1,000

 

2,000