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Company No: 11640135 (England and Wales)

MOLAN CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

MOLAN CONSULTING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024

Contents

MOLAN CONSULTING LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
MOLAN CONSULTING LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
DIRECTORS A M Molan
M T Molan
REGISTERED OFFICE 101 Broomleaf Road
Farnham
Surrey
GU9 8DH
United Kingdom
COMPANY NUMBER 11640135 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
GU9 7PT
MOLAN CONSULTING LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT 05 APRIL 2024
MOLAN CONSULTING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

AS AT 05 APRIL 2024
Note 05.04.2024 05.04.2023
£ £
Fixed assets
Tangible assets 3 3,429 2,510
3,429 2,510
Current assets
Debtors 4 2,441 9,343
Cash at bank and in hand 263,751 239,314
266,192 248,657
Creditors: amounts falling due within one year 5 ( 21,724) ( 22,300)
Net current assets 244,468 226,357
Total assets less current liabilities 247,897 228,867
Provision for liabilities ( 652) ( 627)
Net assets 247,245 228,240
Capital and reserves
Called-up share capital 100 100
Profit and loss account 247,145 228,140
Total shareholders' funds 247,245 228,240

For the financial year ending 05 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Molan Consulting Limited (registered number: 11640135) were approved and authorised for issue by the Board of Directors on 24 December 2024. They were signed on its behalf by:

M T Molan
Director
MOLAN CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
MOLAN CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 05 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Molan Consulting Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 101 Broomleaf Road, Farnham, Surrey, GU9 8DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

05.04.2024 05.04.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 06 April 2023 5,235 5,235
Additions 2,915 2,915
At 05 April 2024 8,150 8,150
Accumulated depreciation
At 06 April 2023 2,725 2,725
Charge for the financial year 1,996 1,996
At 05 April 2024 4,721 4,721
Net book value
At 05 April 2024 3,429 3,429
At 05 April 2023 2,510 2,510

4. Debtors

05.04.2024 05.04.2023
£ £
Trade debtors 0 6
Accrued income 2,441 9,337
2,441 9,343

5. Creditors: amounts falling due within one year

05.04.2024 05.04.2023
£ £
Amounts owed to directors 714 498
Accruals 1,850 1,850
Taxation and social security 19,160 19,952
21,724 22,300