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Registration number: 05479842

1080 Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

1080 Consulting Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

1080 Consulting Limited

(Registration number: 05479842)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,445

3,194

Current assets

 

Debtors

5

39,977

41,062

Cash at bank and in hand

 

78,838

145,865

 

118,815

186,927

Creditors: Amounts falling due within one year

6

(67,024)

(96,329)

Net current assets

 

51,791

90,598

Net assets

 

53,236

93,792

Capital and reserves

 

Called up share capital

2

2

Retained earnings

53,234

93,790

Shareholders' funds

 

53,236

93,792

 

1080 Consulting Limited

(Registration number: 05479842)
Balance Sheet as at 30 June 2024

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................
A M Crozier
Director

 

1080 Consulting Limited

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

1

General information

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

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of IT project management services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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

33% Straight Line Basis

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.

 

1080 Consulting Limited

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

Debtors

Trade debtors are amounts due from customers for IT project management services performed in the ordinary course of business.

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.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

1080 Consulting Limited

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

18,285

18,285

Disposals

(483)

(483)

At 30 June 2024

17,802

17,802

Depreciation

At 1 July 2023

15,091

15,091

Charge for the year

1,425

1,425

Eliminated on disposal

(159)

(159)

At 30 June 2024

16,357

16,357

Carrying amount

At 30 June 2024

1,445

1,445

At 30 June 2023

3,194

3,194

5

Debtors

Current

2024
£

2023
£

Trade debtors

25,980

21,090

Other debtors

13,997

19,972

 

39,977

41,062

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

22,106

49,297

Other creditors

44,918

47,032

67,024

96,329

 

1080 Consulting Limited

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

7

Related party transactions

Other transactions with directors

A Crozier had a loan with the company, at the balance sheet date the amount due (to)/from A Crozier was £42,847 (2023: £42,327)