Company No:
Contents
DIRECTORS | Dr A L Irving |
Canon J A Patrick |
REGISTERED OFFICE | 18 Northgate |
Sleaford | |
NG34 7BJ | |
United Kingdom |
BUSINESS ADDRESS | 25 West Parade |
Lincoln | |
Lincolnshire | |
LN1 1NW |
COMPANY NUMBER | 12935774 (England and Wales) |
ACCOUNTANT | Duncan & Toplis Limited |
18 Northgate | |
Sleaford | |
Lincolnshire | |
NG34 7BJ |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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87,956 | 6,141 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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45,587 | 58,874 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current (liabilities)/assets | (69,462) | 37,006 | ||
Total assets less current liabilities | 18,494 | 43,147 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Provision for liabilities | (
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Irving Patrick Consulting Ltd (registered number:
Canon J A Patrick
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.
Irving Patrick Consulting 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 18 Northgate, Sleaford, NG34 7BJ, United Kingdom. The principal place of business is 25 West Parade, Lincoln, Lincolnshire, LN1 1NW.
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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources, despite negative retained earnings, 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. This is due to the continued support of the Director. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Land and buildings | not depreciated |
Plant and machinery etc. |
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At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2024 |
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Additions |
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At 31 December 2024 |
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Accumulated depreciation | |||||
At 01 January 2024 |
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Charge for the financial year |
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At 31 December 2024 |
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Net book value | |||||
At 31 December 2024 |
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At 31 December 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Corporation tax |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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100 | 100 |
Transactions with the entity's directors
2024 | 2023 | ||
£ | £ | ||
Balance outstanding at start of year | 38,839 | 14,392 | |
Amounts advanced | 66,739 | 66,091 | |
Amounts repaid | (190,781) | (41,644) | |
Balance outstanding at the end of year | (85,203) | 38,839 |
An individual balance is owed to the Director, J A Patrick £104,638 (2023: £18,002, owed to the Company).
An individual balance is also owed to the Company from Director, Dr A L Irving £19,435 (2023: £20,837).