Company registration number:
05599928
Consult LWC Limited
Trading as
Consult LWC Limited
Unaudited filleted abridged financial statements
31 March 2024
Consult LWC Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Consult LWC Limited
Directors and other information
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Director |
Miss A.B. Lindsay |
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Secretary |
Mr A.V. Smith |
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Company number |
05599928 |
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Registered office |
Waller House |
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20 New Street |
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Ledbury |
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Herefordshire |
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HR8 2DX |
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Business address |
Waller House |
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20 New Street |
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Ledbury |
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Herefordshire |
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HR8 2DX |
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Accountant |
DJ Accountancy Ltd |
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Redlands |
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Leddington |
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Ledbury |
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HR8 2LG |
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Consult LWC Limited
Abridged statement of financial position
31 March 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
8,486 |
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10,648 |
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_______ |
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_______ |
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8,486 |
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10,648 |
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Current assets |
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Debtors |
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724,445 |
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721,124 |
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Cash at bank and in hand |
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695 |
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210 |
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_______ |
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_______ |
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725,140 |
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721,334 |
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Creditors: amounts falling due |
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within one year |
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(
179,269) |
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(
120,663) |
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_______ |
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_______ |
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Net current assets |
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545,871 |
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600,671 |
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_______ |
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Total assets less current liabilities |
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554,357 |
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611,319 |
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Creditors: amounts falling due |
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after more than one year |
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(
26,626) |
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(
31,917) |
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_______ |
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Net assets |
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527,731 |
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579,402 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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5,000 |
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5,000 |
Profit and loss account |
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522,731 |
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574,402 |
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_______ |
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Shareholder funds |
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527,731 |
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579,402 |
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_______ |
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_______ |
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
07 March 2025
, and are signed on behalf of the board by:
Miss A.B. Lindsay
Director
Company registration number:
05599928
Consult LWC Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Waller House, 20 New Street, Ledbury, Herefordshire, HR8 2DX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
11
(2023:
10
).
The aggregate payroll costs incurred during the year were:
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2024 |
2023 |
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£ |
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Wages and salaries |
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188,734 |
192,408 |
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Social security costs |
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11,380 |
8,244 |
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Other pension costs |
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2,995 |
3,142 |
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_______ |
_______ |
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203,109 |
203,794 |
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_______ |
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5.
Tangible assets
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£ |
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Cost |
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At 1 April 2023 and 31 March 2024 |
66,584 |
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_______ |
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Depreciation |
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At 1 April 2023 |
55,936 |
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Charge for the year |
2,162 |
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_______ |
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At 31 March 2024 |
58,098 |
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_______ |
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Carrying amount |
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At 31 March 2024 |
8,486 |
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_______ |
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At 31 March 2023 |
10,648 |
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_______ |
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6.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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£ |
£ |
£ |
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Miss A.B. Lindsay |
(
3,058) |
1,105 |
(
1,953) |
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_______ |
_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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£ |
£ |
£ |
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Miss A.B. Lindsay |
(
73) |
(
2,985) |
(
3,058) |
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_______ |
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The bank overdraft is secured by a debenture in the banks standard form dated 11th January 2013.
7.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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2024 |
2023 |
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£ |
£ |
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Licence fee |
15,330 |
17,535 |
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_______ |
_______ |
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Miss A.B. Lindsay
had a material interest in the company's trading contract with the holding company Consult LWC Holdings Limited by virtue of also being a director of that business. During the year ended 31st March 2024 a licence fee was payable.
8.
Controlling party
Consult LWC Holdings Limited, registered office Waller House,20 New Street, Ledbury, HR8 2DX, is the company's immediate, ultimate parent undertaking and controlling party.