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Registration number: 04097884

Strongfield Consultants Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Strongfield Consultants Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Strongfield Consultants Ltd

Company Information

Directors

Mr S K Mongia

Mr P Rogers

Mrs A Mongia

Company secretary

Mrs A Mongia

Registered office

Strongfield House
Unit 2, 89 Manor Farm Road
Wembley
Middx
HA0 1BA

Accountants

Paul & Co
8 Freetrade House
Lowther Road
Stanmore
Middx
HA7 1EP

 

Strongfield Consultants Ltd

(Registration number: 04097884)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

463,716

230,439

Cash at bank and in hand

 

7,164

4,017

 

470,880

234,456

Creditors: Amounts falling due within one year

6

(426,027)

(167,256)

Total assets less current liabilities

 

44,853

67,200

Creditors: Amounts falling due after more than one year

6

(10,833)

(20,833)

Net assets

 

34,020

46,367

Capital and reserves

 

Called up share capital

7

50,000

50,000

Retained earnings

(15,980)

(3,633)

Shareholders' funds

 

34,020

46,367

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

 

Strongfield Consultants Ltd

(Registration number: 04097884)
Balance Sheet as at 30 June 2024

.........................................
Mr S K Mongia
Director

.........................................
Mr P Rogers
Director

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Strongfield House
Unit 2, 89 Manor Farm Road
Wembley
Middx
HA0 1BA

These financial statements were authorised for issue by the Board on 23 September 2024.

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).

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for the supply of specialist engineering personnel. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue from the sale of the above is recognised when the significant risks and rewards of ownership of the good and services have been transferred to the buyer and the amount of revenue can be measured reliably and it is probable tht the associated economic benefits will flow to the entity and the costs incurred in respect of these transanctions can be measured reliably.

Foreign currency transactions and balances

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Non monetary assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. The related exchange gains and losses are taken into account in arriving at the operating result.

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets


Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Fixtures and fittings

Computers 33.33% on cost and not provided

Goodwill

Goodwill arising is the difference between the fair value of the consideration paid and the fair value of the assets and liabilities acquired. Positive goodwill is capitalised and amortised through the profit and loss account over the directors' estimate of its economic life which is 4 years.

At the year end, goodwill was fully amortised.

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.

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

10,000

10,000

At 30 June 2024

10,000

10,000

Amortisation

At 1 July 2023

10,000

10,000

At 30 June 2024

10,000

10,000

Carrying amount

At 30 June 2024

-

-

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

251,267

48,255

Amounts owed by related parties

9

212,436

181,351

Prepayments

 

-

820

Other debtors

 

13

13

   

463,716

230,439

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

173,672

88,891

Trade creditors

 

10,600

987

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

34,958

37,720

Taxation and social security

 

177,066

14,724

Accruals and deferred income

 

22,531

20,858

Other creditors

 

7,200

4,076

 

426,027

167,256

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

10,833

20,833

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

50,000

50,000

50,000

50,000

       
 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,833

20,833

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Other borrowings

163,672

78,891

173,672

88,891

9

Related party transactions



Summary of transactions with entities with joint control or significant interest

Inter-company Loans on an interest-free basis and repayable on demand.
 

Expenditure with and payables to related parties

2024

Entities with joint control or significant influence
£

Rendering of services

40,000

2023

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

181,351

181,351

Advanced

158,832

158,832

Repaid

(127,746)

(127,746)

At end of period

212,437

212,437

 

Strongfield Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2023

Entities with joint control or significant influence
£

Total
£

At start of period

200,860

200,860

Advanced

32,227

32,227

Repaid

(51,736)

(51,736)

At end of period

181,351

181,351

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

37,720

37,720

Advanced

1,341

1,341

Repaid

(4,104)

(4,104)

At end of period

34,957

34,957

2023

Entities with joint control or significant influence
£

Total
£

At start of period

38,292

38,292

Advanced

3,144

3,144

Repaid

(3,716)

(3,716)

At end of period

37,720

37,720