REGISTERED NUMBER: 13561472 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2024

for

True Worth Consulting Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S C Mikkelsen

REGISTERED OFFICE:

Rear Barn

The Brookdale Centre

Knutsford

Cheshire

WA16 0SR

REGISTERED NUMBER:

13561472 (England and Wales)

ACCOUNTANTS:

EBA

Ground Floor

Rear Barn

The Brookdale Centre

Knutsford

Cheshire

WA16 0SR

FIXED ASSETS

Tangible assets

4

32,149

33,580

CURRENT ASSETS

Debtors

5

40,764

34,027

Cash at bank

25,683

34,268

66,447

68,295

CREDITORS

Amounts falling due within one year

6

46,214

57,706

NET CURRENT ASSETS

20,233

10,589

TOTAL ASSETS LESS CURRENT LIABILITIES

52,382

44,169

CREDITORS

Amounts falling due after more than one year

7

(1,556

)

(9,219

)

PROVISIONS FOR LIABILITIES

(7,456

)

(8,584

)

NET ASSETS

43,370

26,366

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

43,270

26,266

43,370

26,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 April 2025 and were signed by:

S C Mikkelsen - Director

1.	STATUTORY INFORMATION

True Worth Consulting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2023

3,717

34,103

37,820

Additions

-

3,657

3,657

At 31 August 2024

3,717

37,760

41,477

DEPRECIATION

At 1 September 2023

63

4,177

4,240

Charge for year

746

4,342

5,088

At 31 August 2024

809

8,519

9,328

NET BOOK VALUE

At 31 August 2024

2,908

29,241

32,149

At 31 August 2023

3,654

29,926

33,580

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2023

and 31 August 2024

23,000

DEPRECIATION

At 1 September 2023

2,357

Charge for year

2,070

At 31 August 2024

4,427

NET BOOK VALUE

At 31 August 2024

18,573

At 31 August 2023

20,643

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

21,452

24,961

Other debtors

19,312

9,066

40,764

34,027

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Hire purchase contracts

7,549

6,573

Trade creditors

3,211

207

Taxation and social security

35,280

30,109

Other creditors

174

20,817

46,214

57,706

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Hire purchase contracts

1,556

9,219

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24

31.8.23

£

£

S C Mikkelsen

Balance outstanding at start of year

-

4,772

Amounts advanced

70,708

-

Amounts repaid

(53,354

)

(4,772

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,354

-

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S C Mikkelsen.