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Company No: 03787085 (England and Wales)

ROBERT SMITH CONSULTANCY LTD

Abridged Unaudited Financial Statements
For the financial year ended 30 June 2024

ROBERT SMITH CONSULTANCY LTD

Abridged Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ROBERT SMITH CONSULTANCY LTD

COMPANY INFORMATION

For the financial year ended 30 June 2024
ROBERT SMITH CONSULTANCY LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS Rachael Hosack
Robert Smith
SECRETARY Rachael Hosack
REGISTERED OFFICE Sturdys Barn Wood Broughton
Cartmel
Grange Over Sands
LA11 7SJ
United Kingdom
COMPANY NUMBER 03787085 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
ROBERT SMITH CONSULTANCY LTD

BALANCE SHEET

As at 30 June 2024
ROBERT SMITH CONSULTANCY LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,301 641
Investments 4 0 630,068
1,301 630,709
Current assets
Debtors 655,535 23,721
Cash at bank and in hand 7,471 63,862
663,006 87,583
Creditors: amounts falling due within one year ( 18,342) ( 15,215)
Net current assets 644,664 72,368
Total assets less current liabilities 645,965 703,077
Net assets 645,965 703,077
Capital and reserves
Called-up share capital 5 110 110
Profit and loss account 645,855 702,967
Total shareholders' funds 645,965 703,077

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Robert Smith Consultancy Ltd (registered number: 03787085) were approved and authorised for issue by the Board of Directors on 11 February 2025. They were signed on its behalf by:

Robert Smith
Director
ROBERT SMITH CONSULTANCY LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ROBERT SMITH CONSULTANCY LTD

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Robert Smith Consultancy Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sturdys Barn Wood Broughton, Cartmel, Grange Over Sands, LA11 7SJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represent the amounts, including recoverable expenses, receivable for services provided during the year. Turnover is recognised to the extent it is probable that economic benefit will flow to the company, and that it can be reliably measured. Turnover is measured at the fair value of consideration received or receivable, net of discounts, rebates, VAT and other sales taxes.

Turnover from the provision of services and contracts is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that consideration due will be received;
- the stage of completion of the contract at the reporting date can be measured reliably, and
- the costs incurred, or to be incurred, can be measured reliably.

Turnover recognised but not billed at the reporting date is treated as amounts recoverable on contracts due within one year.

Turnover is recognised when the right to consideration has arisen through the performance of each assignment undertaken. Consideration accrues as the assignment progresses by reference to the value of work performed. Fees are not recognised where the right to receive payment is contingent on events outside the control of the entity.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Tangible fixed assets

Tangible fixed assets are held under the cost model, and are stated at their historical cost less accumulated depreciation and impairment losses. Cost includes directly attributable expenditure in bringing the asset into the location and condition necessary for operation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

The assets' residual values; useful lives and depreciation methods are reviewed periodically and prospectively adjusted where appropriate; or where there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount, and are recognised in the statement of income and retained earnings.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Fixed asset investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period. Market value is taken to be the mid-point of the bid-ask spread at the close of markets on the reporting date, or the the last close of the market before the reporting date.

Cash and cash equivalents

Cash is represented by cash in hand and bank current and short term deposit accounts which can be retrieved in less than 90 days.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors; loans from banks and other third parties; loans to related parties and investments in non-puttable ordinary shares.

Debt instruments, other than those wholly payable or receivable within one year, including loans and other accounts receivable and payable are initially measured at the present value of future cash flows, and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of consideration expected to be paid or received. If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not at a market rate, the financial asset or liability is initially measured at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument, and subsequently measured at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment, and such impairments is recognised in total comprehensive income.

Financial assets that are measured at fair value through profit or loss are revalued at the end of each reporting period in line with the policy on listed asset investments.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 22,903 22,903
Additions 1,511 1,511
At 30 June 2024 24,414 24,414
Accumulated depreciation
At 01 July 2023 22,262 22,262
Charge for the financial year 851 851
At 30 June 2024 23,113 23,113
Net book value
At 30 June 2024 1,301 1,301
At 30 June 2023 641 641

4. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 630,068 630,068
Transfer to current assets ( 630,068) ( 630,068)
At 30 June 2024 0 0
Carrying value at 30 June 2024 0 0
Carrying value at 30 June 2023 630,068 630,068

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
10 Ordinary B shares of £ 1.00 each 10 10
110 110

7. Ultimate controlling party

The controlling party is R J Smith.