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REGISTERED NUMBER: 08512476 (England and Wales)


















FINANCIAL MODELLING CONSULTANTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FINANCIAL MODELLING CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: W Wardle Esq





REGISTERED OFFICE: First Floor Suite
23 Trinity Square
LLANDUDNO
Conwy
LL30 2RH





REGISTERED NUMBER: 08512476 (England and Wales)





ACCOUNTANTS: Hawley and Company
Chartered Accountants & Chartered Tax Advisers
First Floor Suite
23 Trinity Square
LLANDUDNO
North Wales
LL30 2RH

FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,778 11,517

CURRENT ASSETS
Debtors 5 51,599 30,769
Cash at bank 6,648 15,224
58,247 45,993
CREDITORS
Amounts falling due within one year 6 59,615 46,537
NET CURRENT LIABILITIES (1,368 ) (544 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,410

10,973

CREDITORS
Amounts falling due after more than one year 7 (4,250 ) (8,375 )

PROVISIONS FOR LIABILITIES 8 (1,944 ) (2,188 )
NET ASSETS 216 410

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 215 409
SHAREHOLDERS' FUNDS 216 410

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 director acknowledges his 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.

FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)

STATEMENT OF FINANCIAL POSITION - 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 director and authorised for issue on 20 February 2025 and were signed by:





W Wardle Esq - Director


FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Financial Modelling Consultants 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.

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.

Revenue recognition
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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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 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.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 442 31,305 31,747
DEPRECIATION
At 1 June 2023 97 20,133 20,230
Charge for year 52 3,687 3,739
At 31 May 2024 149 23,820 23,969
NET BOOK VALUE
At 31 May 2024 293 7,485 7,778
At 31 May 2023 345 11,172 11,517

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 21,610 4,200
Other debtors 10,000 13,030
Director's current account 19,106 12,656
50,716 29,886

Amounts falling due after more than one year:
Corporation tax recoverable 883 883

Aggregate amounts 51,599 30,769

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,200 4,300
Tax 43,920 34,515
Social security and other taxes 10,242 6,488
Accruals 1,253 1,234
59,615 46,537

FINANCIAL MODELLING CONSULTANTS LIMITED (REGISTERED NUMBER: 08512476)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan 4,250 8,375

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,944 2,188

Deferred
tax
£   
Balance at 1 June 2023 2,188
Accelerated capital allowances (244 )
Balance at 31 May 2024 1,944

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
W Wardle Esq
Balance outstanding at start of year 12,656 2,718
Amounts advanced 16,388 9,938
Amounts repaid (9,938 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,106 12,656