REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
FOR |
ASSURITY CONSULTING LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
FOR |
ASSURITY CONSULTING LIMITED |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ASSURITY CONSULTING LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 11 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Assurity Consulting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently. |
Change in accounting reference date |
Current period figures are for the 18 months from 1 January 2023 to 30 June 2024 in order to align with group companies accounting reference dates. Comparative figures are for the 12 months from 1 January 2022 to 31 December 2022. Because of the different periods the current period figures are not wholly comparable to prior period figures. |
Significant judgements and estimates |
The directors have made a number of estimates and assumptions regarding the future, and made some significant judgements in applying the accounting policies. These are shown below: |
(i) Amounts recoverable on contracts |
The directors use their judgement in estimating amounts recoverable on contracts. |
Revenue recognition |
Turnover is measured at the fair value of the consideration receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and services. |
Amounts recoverable on contracts that straddle the year end, and which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: |
Leasehold improvements | 10-33% on cost |
Plant and machinery | 10-33% on cost |
Computer equipment | 20-33% on cost |
Fixtures, fittings and equipment | 10-33% on cost |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to sell. |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on computer software development is capitalised as an internally generated intangible asset . The useful lives of the company's intangible assets are assessed to be finite and tested for impairment whenever there are indications that the assets may be impaired. Amortisation is recognised in the statement of comprehensive income on a straight-line basis. The estimated useful lives are 3 and 10 years. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Basic financial instruments |
Cash in hand is measured at transaction price. |
Debtors: Trade, other debtors and amounts owed by participating interests are measured at transaction price. Trade debtors are amounts due from customers for services performed in the ordinary course of business less any impairment provision. These are recognised as current assets as collection is due within one year or less. |
Creditors: amounts falling due within one year are measured at transaction price. Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. These are classified as current liabilities as payment is due in one year or less. |
Dividends |
Dividends are recognised in the company's financial statements in the year in which they are approved in general meetings by the company's shareholders. Interim dividends are recognised when they are paid. |
Share capital |
Ordinary shares are classified as equity. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at revalued amount where the impairment loss is a revaluation decrease. |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2023 |
Additions |
At 30 June 2024 |
AMORTISATION |
At 1 January 2023 |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
7. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: UK |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2022 |
£ | £ |
Aggregate capital and reserves |
Registered office: UK |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2022 |
£ | £ |
Aggregate capital and reserves |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to participating interests | - | 13,110 |
Taxation and social security |
Other creditors |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2022 |
£ | £ |
Within one year |
Between one and five years |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Other timing differences | 95,947 | 57,603 |
134,339 | 97,387 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Charge to Income Statement during period |
Balance at 30 June 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 30,000 | 30,000 |
Ordinary B | £1 | 30,000 | 30,000 |
60,000 | 60,000 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Profit for the period |
Dividends | ( |
) |
At 30 June 2024 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
ASSURITY CONSULTING LIMITED (REGISTERED NUMBER: 02227268) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
15. | RELATED PARTY DISCLOSURES |
During the period the company was charged management fees of £nil (2022 £13,110) from Assurity Consulting Holdings Limited. |
Included in creditors is an amount of £nil (2022 £13,110) due to Assurity Consulting Holdings Limited. |
During the period the company paid dividends to Assurity Consulting Holdings Limited of £300,000 (2022: £300,000). |
During the period the company lent £2,375,112 to Celnor Group Limited. At the year end the company was owed £2,267,830 (2022 £nil) by Celnor Group Limited. The loan is non interest bearing and repayable on demand. |
During the period the company was charged gross of VAT management fees of £107,282 (2022 £nil) from Celnor Group Limited. This is charged against the aforementioned inter company loan. |
16. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
R Barnes was considered to be the ultimate controlling party until 21 December 2023. Since that date the company is jointly owned by Assurity Consulting Holdings Limited and Celnor Group Limited. The latter has a controlling interest in Assurity Consulting Holdings Limited. |