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COMPANY REGISTRATION NUMBER: 07018537
BUCKINGHAM CONSULTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
BUCKINGHAM CONSULTING LTD
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
CONTENTS
PAGE
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
10
BUCKINGHAM CONSULTING LTD
DIRECTORS' REPORT
YEAR ENDED 29 FEBRUARY 2024
The directors present their report and the unaudited financial statements of the company for the year ended 29 February 2024 .
PRINCIPAL ACTIVITIES
The principal activity of the company during the year was that of consultancy, as brokers for retail operators.
DIRECTORS
The directors who served the company during the year were as follows:
Mrs D Bradford
Mr J Bradford
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 26 March 2025 and signed on behalf of the board by:
Mr J Bradford
Director
Registered office:
Unit 4 Middlethorpe Business Park
Sim Balk Lane
Bishopthorpe
York
England
YO23 2BD
BUCKINGHAM CONSULTING LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
YEAR ENDED 29 FEBRUARY 2024
2024
2023
Note
£
£
TURNOVER
475,274
244,853
Cost of sales
286,312
176,888
----------
----------
GROSS PROFIT
188,962
67,965
Administrative expenses
146,453
91,911
----------
--------
OPERATING PROFIT/(LOSS)
42,509
( 23,946)
Interest payable and similar expenses
1,517
6,398
----------
--------
PROFIT/(LOSS) BEFORE TAXATION
5
40,992
( 30,344)
Tax on profit/(loss)
650
( 2,067)
--------
--------
PROFIT/(LOSS) FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
40,342
( 28,277)
--------
--------
RETAINED LOSSES AT THE START OF THE YEAR
( 89,131)
( 60,854)
--------
--------
RETAINED LOSSES AT THE END OF THE YEAR
( 48,789)
( 89,131)
--------
--------
All the activities of the company are from continuing operations.
BUCKINGHAM CONSULTING LTD
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
6
45,122
39,159
CURRENT ASSETS
Debtors
7
13,705
24,405
Cash at bank and in hand
27,154
1,171
--------
--------
40,859
25,576
CREDITORS: amounts falling due within one year
8
54,935
55,981
--------
--------
NET CURRENT LIABILITIES
14,076
30,405
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
31,046
8,754
CREDITORS: amounts falling due after more than one year
9
80,812
99,512
PROVISIONS
Taxation including deferred tax
( 2,210)
( 2,860)
--------
--------
NET LIABILITIES
( 47,556)
( 87,898)
--------
--------
CAPITAL AND RESERVES
Called up share capital
1,233
1,233
Profit and loss account
( 48,789)
( 89,131)
--------
--------
SHAREHOLDERS FUNDS
( 47,556)
( 87,898)
--------
--------
These financial statements have been prepared 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'.
For the year ending 29 February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BUCKINGHAM CONSULTING LTD
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Mr J Bradford
Director
Company registration number: 07018537
BUCKINGHAM CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 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 Unit 4 Middlethorpe Business Park, Sim Balk Lane, Bishopthorpe, York, YO23 2BD, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company’s trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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:
Plant and machinery
-
25% straight line
Motor vehicles
-
20% reducing balance
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(i) Financial instruments
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. PROFIT BEFORE TAXATION
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
12,913
10,993
--------
--------
6. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 March 2023
10,709
56,628
67,337
Additions
18,876
18,876
--------
--------
--------
At 29 February 2024
29,585
56,628
86,213
--------
--------
--------
Depreciation
At 1 March 2023
7,792
20,386
28,178
Charge for the year
5,665
7,248
12,913
--------
--------
--------
At 29 February 2024
13,457
27,634
41,091
--------
--------
--------
Carrying amount
At 29 February 2024
16,128
28,994
45,122
--------
--------
--------
At 28 February 2023
2,917
36,242
39,159
--------
--------
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
12,250
22,950
Other debtors
1,455
1,455
--------
--------
13,705
24,405
--------
--------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,930
6
Accruals and deferred income
124
( 80)
Social security and other taxes
15,382
10,286
Shareholder loan account - C Linley-Bradford
( 5,803)
( 5,803)
Directors Loan Account - J Bradford
43,302
51,572
--------
--------
54,935
55,981
--------
--------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
43,707
54,040
Obligations under finance leases and hire purchase contracts
37,105
45,472
--------
--------
80,812
99,512
--------
--------
10. RELATED PARTY TRANSACTIONS
The director operates a director's loan account with the Company. This loan was interest free and repayable on demand . At the year end, the Company owed the Director £ 43,302 . In the previous year, the Company owed the Director £ 51,572 .
BUCKINGHAM CONSULTING LTD
MANAGEMENT INFORMATION
YEAR ENDED 29 FEBRUARY 2024
The following pages do not form part of the financial statements.
BUCKINGHAM CONSULTING LTD
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BUCKINGHAM CONSULTING LTD
YEAR ENDED 29 FEBRUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Buckingham Consulting Ltd for the year ended 29 February 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Buckingham Consulting Ltd, as a body, in accordance with the terms of our engagement letter dated 1 April 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Buckingham Consulting Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buckingham Consulting Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Buckingham Consulting Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Buckingham Consulting Ltd. You consider that Buckingham 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 financial statements of Buckingham 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 financial statements.
TOWNENDS ACCOUNTANTS LLP Chartered Accountants
Fulford Lodge 1 Heslington Lane Fulford York YO10 4HW
26 March 2025