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REGISTERED NUMBER: 05808078 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Simon Peart Consulting Limited

Simon Peart Consulting Limited (Registered number: 05808078)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Simon Peart Consulting Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S Peart
Mrs K Peart





SECRETARY: Mrs K Peart





REGISTERED OFFICE: 28 Dudley Street
Grimsby
North East Lincs
DN31 2AB





REGISTERED NUMBER: 05808078 (England and Wales)

Simon Peart Consulting Limited (Registered number: 05808078)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 41,748 1,333
Investment property 5 425,778 342,764
467,526 344,097

CURRENT ASSETS
Debtors 6 11,549 18,821
Cash at bank and in hand 55,871 7,328
67,420 26,149
CREDITORS
Amounts falling due within one year 7 70,840 81,625
NET CURRENT LIABILITIES (3,420 ) (55,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

464,106

288,621

CREDITORS
Amounts falling due after more than one
year

8

(168,049

)

(151,890

)

PROVISIONS FOR LIABILITIES (31,111 ) (253 )
NET ASSETS 264,946 136,478

CAPITAL AND RESERVES
Called up share capital 103 102
Revaluation reserve 10 62,260 -
Retained earnings 202,583 136,376
264,946 136,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Simon Peart Consulting Limited (Registered number: 05808078)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





S Peart - Director


Simon Peart Consulting Limited (Registered number: 05808078)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Simon Peart Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Simon Peart Consulting Limited (Registered number: 05808078)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 5,311
Additions 41,550
At 31 May 2024 46,861
DEPRECIATION
At 1 June 2023 3,978
Charge for year 1,135
At 31 May 2024 5,113
NET BOOK VALUE
At 31 May 2024 41,748
At 31 May 2023 1,333

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 40,500
At 31 May 2024 40,500
DEPRECIATION
Charge for year 675
At 31 May 2024 675
NET BOOK VALUE
At 31 May 2024 39,825

Simon Peart Consulting Limited (Registered number: 05808078)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 342,764
Revaluations 83,014
At 31 May 2024 425,778
NET BOOK VALUE
At 31 May 2024 425,778
At 31 May 2023 342,764

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 83,014
Cost 342,764
425,778

At the year end date the Investment properties were revalued by the director on an open market basis.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 11,548 18,821
Other debtors 1 -
11,549 18,821

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 28,287 68,165
Hire purchase contracts 5,774 -
Trade creditors - 1
Taxation and social security 32,410 11,122
Other creditors 4,369 2,337
70,840 81,625

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 137,455 151,890
Hire purchase contracts 30,594 -
168,049 151,890

Simon Peart Consulting Limited (Registered number: 05808078)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 165,742 -
Hire purchase contracts 36,368 -
202,110 -

Amounts due from mortgages are secured against the property in which the mortgages relates to.

Hire purchase contracts are secured against the assets in which they relate to.

10. RESERVES
Revaluation
reserve
£   
Transfer of reserves 83,013
Tax (20,753 )

At 31 May 2024 62,260