Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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624 | 1,194 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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6,205 | 15,335 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current (liabilities)/assets | (950) | 7,485 | ||
Total assets less current liabilities | (326) | 8,679 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholder's (deficit)/funds | (
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Kimsey Consulting Limited (registered number:
Mr S Kimsey
Director |
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.
Kimsey Consulting Limited (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 Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, TA1 2PX, 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 £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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.
Fixtures and fittings |
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Office equipment |
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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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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The directors acknowledge that Ultra Vires dividends were declared and paid during the year. At the time the dividends
were paid the directors were not aware that there were insufficient profits available for distribution. The directors
acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.
Fixtures and fittings | Office equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 August 2023 |
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At 31 July 2024 |
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Accumulated depreciation | |||||
At 01 August 2023 |
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Charge for the financial year |
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At 31 July 2024 |
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Net book value | |||||
At 31 July 2024 |
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At 31 July 2023 |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed by director |
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Prepayments |
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Corporation tax |
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2024 | 2023 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Accruals |
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Corporation tax |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
At 1 August 2023 | (3,619) | (323) | |
Advances to director | (19,517) | (24,974) | |
Repayments by director | 18,142 | 21,682 | |
Interest Charged | 0 | (4) | |
At 31 July 2024 | (4,994) | (3,619) |
Interest has been charged using HMRC office rates for beneficial loans and is repayable on demand.