Company registration number 09643714 (England and Wales)
FRANCES LAURENCE CONSULTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FRANCES LAURENCE CONSULTING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FRANCES LAURENCE CONSULTING LTD (REGISTERED NUMBER: 09643714)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,909
2,963
Current assets
Debtors
4
30,635
38,400
Cash at bank and in hand
74,850
51,083
105,485
89,483
Creditors: amounts falling due within one year
5
(56,425)
(55,377)
Net current assets
49,060
34,106
Total assets less current liabilities
51,969
37,069
Provisions for liabilities
(708)
(658)
Net assets
51,261
36,411
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
51,161
36,311
Total equity
51,261
36,411
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 2 December 2024
Ms F Laurence
Director
FRANCES LAURENCE CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Frances Laurence Consulting Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria also must be met before turnover is recognised.
Turnover for the sale of goods is recognised when all of the following conditions are met: |
- The company has transferred the significant risks and rewards of ownership to the buyer; |
- the amount of turnover can be recognised reliably and; - It is probable that the company will receive the consideration due under the transaction. |
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - The amount of turnover can be measure reliably. - It is probable that the company will receive the consideration under the contract. - The stage of completion of the contract at the end of the reporting period can be measure reliably; and - The costs incurred and the costs to complete the contract can be measure reliably. |
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
FRANCES LAURENCE CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% on reducing balance
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
FRANCES LAURENCE CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 July 2023
6,816
Additions
844
Disposals
(666)
At 30 June 2024
6,994
Depreciation and impairment
At 1 July 2023
3,853
Depreciation charged in the year
781
Eliminated in respect of disposals
(549)
At 30 June 2024
4,085
Carrying amount
At 30 June 2024
2,909
At 30 June 2023
2,963
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
30,635
38,400
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
54,304
53,357
Other creditors
2,121
2,020
56,425
55,377
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
90
90
90
90
Ordinary A of £1 each
10
10
10
10
100
100
100
100
FRANCES LAURENCE CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
6
Called up share capital
(Continued)
- 5 -