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Company No: 12973765 (England and Wales)

WIDGENTON CONSULTANTS LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

WIDGENTON CONSULTANTS LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

WIDGENTON CONSULTANTS LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
WIDGENTON CONSULTANTS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr R Chhabra
Mrs M V T Chhabra
REGISTERED OFFICE 264 Banbury Road
Oxford
United Kingdom
COMPANY NUMBER 12973765 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
WIDGENTON CONSULTANTS LTD

BALANCE SHEET

As at 31 March 2024
WIDGENTON CONSULTANTS LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 39,115 45,876
39,115 45,876
Current assets
Debtors 4 1,642,461 696,109
Cash at bank and in hand 461,464 479,136
2,103,925 1,175,245
Creditors: amounts falling due within one year 5 ( 343,685) ( 88,183)
Net current assets 1,760,240 1,087,062
Total assets less current liabilities 1,799,355 1,132,938
Net assets 1,799,355 1,132,938
Capital and reserves
Called-up share capital 2 2
Profit and loss account 1,799,353 1,132,936
Total shareholders' funds 1,799,355 1,132,938

For the financial 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.

Directors' responsibilities:

The financial statements of Widgenton Consultants Ltd (registered number: 12973765) were approved and authorised for issue by the Board of Directors on 13 March 2025. They were signed on its behalf by:

Mr R Chhabra
Director
WIDGENTON CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
WIDGENTON CONSULTANTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Widgenton Consultants Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

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

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Computer equipment 4 years straight line
Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2023 37,700 13,465 51,165
Additions 0 7,520 7,520
Disposals 0 ( 1,127) ( 1,127)
At 31 March 2024 37,700 19,858 57,558
Accumulated depreciation
At 01 April 2023 1,730 3,559 5,289
Charge for the financial year 8,993 4,161 13,154
At 31 March 2024 10,723 7,720 18,443
Net book value
At 31 March 2024 26,977 12,138 39,115
At 31 March 2023 35,970 9,906 45,876

4. Debtors

2024 2023
£ £
Trade debtors 531,630 159,769
Amounts owed by Group undertakings 49,834 49,834
Other debtors 1,060,997 486,506
1,642,461 696,109

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 0 157
Trade creditors 8,069 27,385
Taxation and social security 329,859 55,641
Other creditors 5,757 5,000
343,685 88,183