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COMPANY REGISTRATION NUMBER: 10846724
Dr NPS Consultancy Services Limited
Filleted Unaudited Financial Statements
Year ended
31 March 2024
Dr NPS Consultancy Services Limited
Financial Statements
Year ended 31 March 2024
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
Dr NPS Consultancy Services Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
5,380
2,801
Current assets
Debtors
6
8,204
716
Cash at bank and in hand
160,042
28,111
----------
--------
168,246
28,827
Creditors: amounts falling due within one year
7
73,232
4,981
----------
--------
Net current assets
95,014
23,846
----------
--------
Total assets less current liabilities
100,394
26,647
Creditors: amounts falling due after more than one year
8
18,450
22,326
----------
--------
Net assets
81,944
4,321
----------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
81,844
4,221
--------
-------
Shareholders funds
81,944
4,321
--------
-------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 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 .
Dr NPS Consultancy Services Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr N Somerset
Director
Company registration number: 10846724
Dr NPS Consultancy Services Limited
Notes to the Financial Statements
Year ended 31 March 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 8-14 Carlisle Street, Goole, East Yorkshire, DN14 5DX, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from provision of services is recognised when the sales invoice is issued.
(d) Current and deferred 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 be paid or recovered 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.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
(f) 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:
Fixtures and fittings
-
15% straight line
Equipment
-
15% straight line
(g) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2023
99
6,201
6,300
Additions
3,523
3,523
----
-------
-------
At 31 March 2024
99
9,724
9,823
----
-------
-------
Depreciation
At 1 April 2023
47
3,452
3,499
Charge for the year
5
939
944
----
-------
-------
At 31 March 2024
52
4,391
4,443
----
-------
-------
Carrying amount
At 31 March 2024
47
5,333
5,380
----
-------
-------
At 31 March 2023
52
2,749
2,801
----
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
8,204
Other debtors
716
-------
----
8,204
716
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,575
810
Corporation tax
45,695
Social security and other taxes
21,129
Director loan accounts
2,035
1,723
Other creditors
2,798
2,448
--------
-------
73,232
4,981
--------
-------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,450
22,326
--------
--------
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
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs K Somerset
( 144)
31,277
( 31,277)
( 144)
Mr N Somerset
( 1,579)
44,330
( 44,642)
( 1,891)
-------
--------
--------
-------
( 1,723)
75,607
( 75,919)
( 2,035)
-------
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs K Somerset
( 144)
( 144)
Mr N Somerset
( 512)
8,305
( 9,372)
( 1,579)
----
-------
-------
-------
( 656)
8,305
( 9,372)
( 1,723)
----
-------
-------
-------