REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Shelley Consultancy Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
for |
Shelley Consultancy Limited |
Shelley Consultancy Limited (Registered number: 04434420) |
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 |
Shelley Consultancy Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1,733 Coventry Road |
South Yardley |
Birmingham |
West Midlands |
B26 1DT |
Shelley Consultancy Limited (Registered number: 04434420) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Shelley Consultancy Limited (Registered number: 04434420) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the director and authorised for issue on |
Shelley Consultancy Limited (Registered number: 04434420) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Shelley Consultancy 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 |
At 31 May 2024, the company had net current liabilities of £70,305, however the director is confident that the company will be able to operate within its agreed banking facilities in the forthcoming year. |
The director considers that in preparing the financial statements he has taken into account all information that could reasonably be expected to be available. On this basis, the director considers that it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result should the company be unable to continue trading. |
Turnover |
Turnover represents net invoiced fees for services provided and rents receivable, excluding value added tax. |
Rental income under operating leases is credited to profit and loss account in equal annual amounts over the periods of the leases. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment properties are revalued annually and the aggregated surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their economic useful lives and is necessary to enable the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. Deferred tax is provided on gains at the rate expected to apply when the property is sold. |
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. |
Shelley Consultancy Limited (Registered number: 04434420) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
Leases |
Rental income under operating leases are credited to profit and loss account in equal annual amounts over the periods of the leases. |
Investments |
Investments held as fixed assets are stated at fair value. Deferred tax is provided on any gains at the rate expected to apply when the assets are sold. |
Loans from directors |
As a small entity the company measures a basic financial liability that are loans from directors at transaction price. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Shelley Consultancy Limited (Registered number: 04434420) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
6. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 June 2023 | 23,661 |
Revaluations | 2,079 |
At 31 May 2024 | 25,740 |
NET BOOK VALUE |
At 31 May 2024 | 25,740 |
At 31 May 2023 | 23,661 |
Cost or valuation at 31 May 2024 is represented by: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2017 | 1,106 | - | 1,106 |
Valuation in 2018 | (1,275 | ) | - | (1,275 | ) |
Valuation in 2019 | (751 | ) | - | (751 | ) |
Valuation in 2020 | (2,284 | ) | (4,885 | ) | (7,169 | ) |
Valuation in 2021 | 1,530 | 2,000 | 3,530 |
Valuation in 2022 | (717 | ) | 1,000 | 283 |
Valuation in 2023 | 216 | 1,885 | 2,101 |
Valuation in 2024 | 2,079 | - | 2,079 |
Cost | 5,836 | 20,000 | 25,836 |
5,740 | 20,000 | 25,740 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
31.5.24 | 31.5.23 |
£ | £ |
Cost | 25,836 | 25,836 |
Aggregate provisions | (96 | ) | (2,175 | ) |
Fixed asset investments were valued on a fair value basis on 31 May 2024 by the director . |
In arriving at the fair value of listed investments, the director has taken the stock market valuation at the balance sheet date and for unlisted investments the balance sheet value has been assessed by reference to the value of the underlying assets to which the investments relate. |
If the fixed asset investments were sold at their book value of £25,740, this would not give rise to a corporation tax liability. |
Shelley Consultancy Limited (Registered number: 04434420) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
Additions |
Revaluation gains | 5,000 |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Fair value at 31 May 2024 is represented by: |
£ |
Valuation in 2019 | (9,000 | ) |
Valuation in 2024 | 5,000 |
Cost | 127,075 |
123,075 |
If the investment had not been revalued it would have been included at the following historical cost: |
31.5.24 | 31.5.23 |
£ | £ |
Cost | 127,075 | 69,000 |
The investment property was valued on a fair value basis basis on 31 May 2024 by the director . |
The director has consider the market value of properties in the locality similar to the investment property in arriving at its fair value. |
The investment property which is stated at £123,075 is valued at fair value by the director as at 31 May 2024. If the investment property was sold for its book value of £123,075, this would not give rise to a corporation tax liability. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other debtors |
Prepayments and accrued income |
Shelley Consultancy Limited (Registered number: 04434420) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 73,253 | 17,964 |
Accruals and deferred income |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
11. | CAPITAL COMMITMENTS |
31.5.24 | 31.5.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
12. | RELATED PARTY DISCLOSURES |
Loan from key management personnel is unsecured and bears interest at 4% with no specific repayment terms and is presented within creditors due within one year. |