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Company registration number: 13446837
Kim Swift Science Education Consultancy Ltd
Unaudited filleted financial statements
30 June 2024
Kim Swift Science Education Consultancy Ltd
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
Kim Swift Science Education Consultancy Ltd
Directors and other information
Directors Ms Carlene Kimberley Swift
Company number 13446837
Registered office 749a Ormskirk Road
Pemberton
Wigan
England
WN5 8AT
Business address 749a Ormskirk Road
Pemberton
Wigan
England
WN5 8AT
Accountants Practical Business Solutions (NW) Limited
749a
Ormskirk Road
Wigan
England
WN5 8AT
Kim Swift Science Education Consultancy Ltd
Directors report
Year ended 30 June 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2024.
Directors
The directors who served the company during the year were as follows:
Ms Carlene Kimberley Swift
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 08 January 2025 and signed on behalf of the board by:
Ms Carlene Kimberley Swift
Director
Kim Swift Science Education Consultancy Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Kim Swift Science Education Consultancy Ltd
Year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kim Swift Science Education Consultancy Ltd for the year ended 30 June 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants , we are subject to its ethical and other professional requirements which are detailed at www.cimaglobal.com.
This report is made solely to the board of directors of Kim Swift Science Education Consultancy Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kim Swift Science Education Consultancy Ltd and state those matters that we have agreed to state to the board of directors of Kim Swift Science Education Consultancy Ltd as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kim Swift Science Education Consultancy Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Kim Swift Science Education Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kim Swift Science Education Consultancy Ltd. You consider that Kim Swift Science Education Consultancy Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Kim Swift Science Education Consultancy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Practical Business Solutions (NW) Limited
Chartered Global Management Accountant
749a
Ormskirk Road
Wigan
England
WN5 8AT
8 January 2025
Kim Swift Science Education Consultancy Ltd
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 7,000 8,000
Tangible assets 6 3,631 4,420
_______ _______
10,631 12,420
Current assets
Debtors 7 5,260 450
Cash at bank and in hand 24,289 20,281
_______ _______
29,549 20,731
Creditors: amounts falling due
within one year 8 ( 11,798) ( 8,088)
_______ _______
Net current assets 17,751 12,643
_______ _______
Total assets less current liabilities 28,382 25,063
Provisions for liabilities ( 690) ( 840)
_______ _______
Net assets 27,692 24,223
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 27,691 24,222
_______ _______
Shareholders funds 27,692 24,223
_______ _______
For the year ending 30 June 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.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 January 2025 , and are signed on behalf of the board by:
Ms Carlene Kimberley Swift
Director
Company registration number: 13446837
Kim Swift Science Education Consultancy Ltd
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Kim Swift Science Education Consultancy Ltd, 749a Ormskirk Road, Pemberton, Wigan, England, WN5 8AT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 pay or recover 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 10 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 12,570 12,570
Social security costs 479 504
Other pension costs 6,000 3,000
_______ _______
19,049 16,074
_______ _______
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2023 and 30 June 2024 10,000 10,000
_______ _______
Amortisation
At 1 July 2023 2,000 2,000
Charge for the year 1,000 1,000
_______ _______
At 30 June 2024 3,000 3,000
_______ _______
Carrying amount
At 30 June 2024 7,000 7,000
_______ _______
At 30 June 2023 8,000 8,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 and 30 June 2024 540 2,876 2,300 5,716
_______ _______ _______ _______
Depreciation
At 1 July 2023 102 1,089 105 1,296
Charge for the year 102 582 105 789
_______ _______ _______ _______
At 30 June 2024 204 1,671 210 2,085
_______ _______ _______ _______
Carrying amount
At 30 June 2024 336 1,205 2,090 3,631
_______ _______ _______ _______
At 30 June 2023 438 1,787 2,195 4,420
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 5,165 450
Other debtors 95 -
_______ _______
5,260 450
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 95 -
Corporation tax 11,703 6,935
Other creditors - 1,153
_______ _______
11,798 8,088
_______ _______