Company registration number 12159843 (England and Wales)
SAMUEL ADVISORY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SAMUEL ADVISORY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SAMUEL ADVISORY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
12,501
12,501
Current assets
Debtors
4
80,052
-
0
Cash at bank and in hand
17
-
0
80,069
-
0
Creditors: amounts falling due within one year
5
(127,689)
(113,071)
Net current liabilities
(47,620)
(113,071)
Total assets less current liabilities
(35,119)
(100,570)
Creditors: amounts falling due after more than one year
6
(39,128)
-
0
Net liabilities
(74,247)
(100,570)
Capital and reserves
Called up share capital
586
586
Share premium account
99,894
99,894
Profit and loss reserves
(174,727)
(201,050)
Total equity
(74,247)
(100,570)

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 March 2025 and are signed on its behalf by:
E Samuel
Director
Company registration number 12159843 (England and Wales)
SAMUEL ADVISORY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Samuel Advisory Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Chancery House, St Nicholas Way, Sutton, Surrey, SM1 1JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. The company has net liabilities of £74,247 as at 31 December 2023 (2022: £100,570) and is dependent on the continuing financial support of its shareholders.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

SAMUEL ADVISORY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SAMUEL ADVISORY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
12,501
12,501
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
298
-
0
Other debtors
79,754
-
0
80,052
-
0
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,429
-
0
Trade creditors
6,235
3,798
Amounts owed to group undertakings
12,500
12,501
Corporation tax
20,125
-
0
Other creditors
82,400
96,772
127,689
113,071
SAMUEL ADVISORY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
39,128
-
0
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
(13,415)
-
7
Related party transactions

Included within other debtors is a balance of £59,629 (2022: £Nil) due from E.Samuel a director and shareholder of the company

 

Included within other creditors is a balance of £Nil (2022: £13,532) due to E.Samuel a director and shareholder of the company.

 

Included within other creditors is a balance of £15,000 (2022: £15,000) due to Centaurea Investments Ltd a shareholder of the company.

 

Included within other creditors is a balance of £40,000 (2022: £40,000) due to C.R.Phillips a director of the company and shareholder of Centaurea Investments Ltd, a shareholder of the company.

2023-12-312023-01-01falsefalsefalse07 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityE SamuelCentaurea Investments LimitedJ LockyerP CowardC Phillips2025-03-07121598432023-01-012023-12-31121598432023-12-31121598432022-12-3112159843core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3112159843core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3112159843core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3112159843core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3112159843core:CurrentFinancialInstruments2023-12-3112159843core:CurrentFinancialInstruments2022-12-3112159843core:ShareCapital2023-12-3112159843core:ShareCapital2022-12-3112159843core:SharePremium2023-12-3112159843core:SharePremium2022-12-3112159843core:RetainedEarningsAccumulatedLosses2023-12-3112159843core:RetainedEarningsAccumulatedLosses2022-12-3112159843bus:Director12023-01-012023-12-31121598432022-01-012022-12-3112159843core:WithinOneYear2023-12-3112159843core:WithinOneYear2022-12-3112159843core:Non-currentFinancialInstruments2023-12-3112159843core:Non-currentFinancialInstruments2022-12-3112159843bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112159843bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112159843bus:FRS1022023-01-012023-12-3112159843bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112159843bus:Director22023-01-012023-12-3112159843bus:Director32023-01-012023-12-3112159843bus:Director42023-01-012023-12-3112159843bus:Director52023-01-012023-12-3112159843bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP