Company Registration No. 08424221 (England and Wales)
Ceesay Consultancy Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
Ceesay Consultancy Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Ceesay Consultancy Limited
Statement of financial position
As at 30 June 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,769
-
0
Investments
4
43,792
10,167
51,561
10,167
Current assets
Debtors
5
452,649
441,421
Cash at bank and in hand
674,310
652,445
1,126,959
1,093,866
Creditors: amounts falling due within one year
6
(274,217)
(257,064)
Net current assets
852,742
836,802
Net assets
904,303
846,969
Capital and reserves
Called up share capital
7
200
101
Profit and loss reserves
904,103
846,868
Total equity
904,303
846,969

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 March 2025.
2025-03-28
Charles Ceesay
Director
Company Registration No. 08424221
Ceesay Consultancy Limited
Notes to the financial statements
For the year ended 30 June 2024
2
1
Accounting policies
Company information

Ceesay Consultancy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71 Queen Victoria Street, London, EC4V 4BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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 settlement discounts.

 

Revenue from contracts for consultancy services provided by the company is dictated by the terms of the contract, and is recognised as and when it is due per the agreement. Revenue is also recognised in the form of reimbursed expenses, for costs incurred in performing the services and obligations specified in the contract, where the contract permits these to be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
10% straight line
Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in fixed assets held for investment purposes are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Ceesay Consultancy Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
3
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
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 current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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, 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.

Classification of financial liabilities

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.

Ceesay Consultancy Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

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

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
Ceesay Consultancy Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
-
0
1,455
1,455
Additions
8,250
-
0
8,250
At 30 June 2024
8,250
1,455
9,705
Depreciation and impairment
At 1 July 2023
-
0
1,455
1,455
Depreciation charged in the year
481
-
0
481
At 30 June 2024
481
1,455
1,936
Carrying amount
At 30 June 2024
7,769
-
0
7,769
At 30 June 2023
-
0
-
0
-
0
4
Fixed asset investments
2024
2023
£
£
Other investments
43,792
10,167
Movements in fixed asset investments
Other
£
Cost or valuation
At 1 July 2023
10,167
Additions
43,792
Disposals
(10,167)
At 30 June 2024
43,792
Carrying amount
At 30 June 2024
43,792
At 30 June 2023
10,167
Ceesay Consultancy Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
6
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
17,406
Other debtors
382,016
288,956
Prepayments and accrued income
70,633
135,059
452,649
441,421
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
20,212
Trade creditors
-
0
1,893
Corporation tax
235,767
217,617
Other taxation and social security
12,465
6,400
Other creditors
25,985
10,942
274,217
257,064
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
100
100
100
100
B Ordinary shares of £1 each
100
1
100
1
200
101
200
101

On 21 July 2023, 99 fully paid B Ordinary shares were allotted with a nominal value of £1 each, the shares issued carry full dividend and capital distribution rights, but no voting rights, and the aggregate nominal value of the shares issued is £99.

8
Related party transactions

Included in other debtors is a director's loan account of £59,070 (2023: £288,956). During the year the director received drawings of £395,114 and repayments of £625,000 .Interest has not been charged on this loan.

 

Also included in other debtors is a loan of £310,000 due from Ceesay Properties Ltd. The loan is interest free and due on demand. The companies are related by virtue of being under common shareholder.

2024-06-302023-07-01false28 March 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityCharles Ceesayfalsefalse084242212023-07-012024-06-30084242212024-06-30084242212023-06-3008424221core:PlantMachinery2024-06-3008424221core:ComputerEquipment2024-06-3008424221core:PlantMachinery2023-06-3008424221core:ComputerEquipment2023-06-3008424221core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3008424221core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3008424221core:CurrentFinancialInstruments2024-06-3008424221core:CurrentFinancialInstruments2023-06-3008424221core:ShareCapital2024-06-3008424221core:ShareCapital2023-06-3008424221core:RetainedEarningsAccumulatedLosses2024-06-3008424221core:RetainedEarningsAccumulatedLosses2023-06-3008424221core:ShareCapitalOrdinaryShares2024-06-3008424221core:ShareCapitalOrdinaryShares2023-06-3008424221bus:Director12023-07-012024-06-3008424221core:PlantMachinery2023-07-012024-06-3008424221core:ComputerEquipment2023-07-012024-06-30084242212022-07-012023-06-3008424221core:PlantMachinery2023-06-3008424221core:ComputerEquipment2023-06-30084242212023-06-3008424221core:Non-currentFinancialInstruments2023-06-3008424221bus:PrivateLimitedCompanyLtd2023-07-012024-06-3008424221bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008424221bus:FRS1022023-07-012024-06-3008424221bus:AuditExemptWithAccountantsReport2023-07-012024-06-3008424221bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP