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Registration number: 12895557

Irvine Bennett Consulting Ltd

Annual Report and Financial Statements

for the Year Ended 30 September 2024

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Contents

Company Information

1

Statement of Director's Responsibilities

2

Accountants' Report

3

Balance Sheet

4

Notes to the Financial Statements

5 to 9

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Company Information

Director

Mr John Bennett

Registered office

Ramsey Farm
Hadleigh
Suffolk
IP7 5PR

Registered number

12895557

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of Irvine Bennett Consulting Ltd
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Irvine Bennett Consulting Ltd for the year ended 30 September 2024 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at:
https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Irvine Bennett Consulting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Irvine Bennett Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of Irvine Bennett Consulting Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-
163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Irvine Bennett Consulting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Irvine Bennett Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Irvine Bennett Consulting Ltd. You consider that Irvine Bennett Consulting Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Irvine Bennett Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Evolve Tax & Accountancy LLP
Chartered Certified Accountants
Unit 2 Fordham House
Fordham
Cambridgeshire
CB7 5LL

1 March 2025

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

3,158

1,139

Current assets

 

Debtors

5

520

535

Cash at bank and in hand

 

28,895

61,556

 

29,415

62,091

Creditors: Amounts falling due within one year

6

(5,105)

(7,464)

Net current assets

 

24,310

54,627

Total assets less current liabilities

 

27,468

55,766

Creditors: Amounts falling due after more than one year

6

(56)

(5,730)

Provisions for liabilities

(600)

(216)

Net assets

 

26,812

49,820

Capital and Reserves

 

Retained Earnings

26,812

49,820

Shareholders' funds

 

26,812

49,820

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 March 2025
 

.........................................
Mr John Bennett
Director

   
     
 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Notes to the Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ramsey Farm
Hadleigh
Suffolk
IP7 5PR

These financial statements were authorised for issue by the director on 1 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Notes to the Financial Statements for the Year Ended 30 September 2024

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 1 March 2025 was , who signed for and on behalf of .

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Notes to the Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Equipment, fixtures & fittings

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Notes to the Financial Statements for the Year Ended 30 September 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

1,519

1,519

Additions

3,071

3,071

At 30 September 2024

4,590

4,590

Depreciation

At 1 October 2023

380

380

Charge for the year

1,052

1,052

At 30 September 2024

1,432

1,432

Carrying amount

At 30 September 2024

3,158

3,158

At 30 September 2023

1,139

1,139

5

Debtors

2024
£

2023
£

Prepayments

520

535

520

535

The directors have reviewed trade debtors for impairment and consider the impairment losses to be provided for the year are £Nil (2023 - £Nil)

All amounts are due within one year.

 

Irvine Bennett Consulting Ltd
(Registration number: 12895557)

Notes to the Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,230

5,454

Accruals and deferred income

1,875

2,010

5,105

7,464

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

56

5,730

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

56

5,730