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Registration number: 08495888

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Company Information

Director

Fergus Sullivan

Registered office

138 Lennard Road
Bromley
BR3 1QP

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

(Registration number: 08495888)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

606

96

Current assets

 

Debtors

6

73,006

32,619

Cash at bank and in hand

 

21,118

51,848

 

94,124

84,467

Creditors: Amounts falling due within one year

7

(37,961)

(52,127)

Net current assets

 

56,163

32,340

Net assets

 

56,769

32,436

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

56,669

32,336

Shareholders' funds

 

56,769

32,436

For the financial year ending 30 April 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.

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

(Registration number: 08495888)
Balance Sheet as at 30 April 2024

These financial statements have been prepared and 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 22 January 2025
 

.........................................
Fergus Sullivan
Director

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
138 Lennard Road
Bromley
BR3 1QP

These financial statements were authorised for issue by the director on 22 January 2025.

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.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 and after eliminating sales within the company.

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 when the service is delivered. If the service being delivered straddles the company's year end the income is apportioned on a pro rata basis over the duration of the service.

Tax

The tax expense for the period comprises current 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.

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% Straight line

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.

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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 1 (2023 - 1).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

19,351

9,483

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

583

583

Additions

808

808

At 30 April 2024

1,391

1,391

Depreciation

At 1 May 2023

487

487

Charge for the year

298

298

At 30 April 2024

785

785

Carrying amount

At 30 April 2024

606

606

At 30 April 2023

96

96

6

Debtors

Current

2024
£

2023
£

Prepayments

1,278

-

Other debtors

71,728

32,619

 

73,006

32,619

 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

21,396

11,774

Accruals and deferred income

16,565

40,353

37,961

52,127

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Dividends

2024

2023

£

£

Interim dividend of £440.00 (2023 - £40.00) per ordinary share

44,000

4,000

 

 
 

Sullivan Business Psychologists (UK) Limited

trading as Sullivan Business Psychologists

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,129

Summary of transactions with other related parties


Fergus Sullivan (director and shareholder)
Janina Leite (shareholder)

During the year the Fergus Sullivan and Janina Leite paid £2,744 (2023: £1,320) of business expenses personally and paid for £50,759 personal expenses. In addition the director received a salary of £12,570 (2023: £12,129) and total dividends of £44,000 (2023: £4,000) were paid. Interest at 2.5% was charged on the outstanding balance, coming up to £1,531 (2023: £nil). At the balance sheet date the amount due from Fergus Sullivan and Janina Leite was £69,594 (2023: £32,619). This was repaid after the year end.