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Registration number: 11675812

Tony Lane Consultancy & Development Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Tony Lane Consultancy & Development Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Tony Lane Consultancy & Development Ltd

Company Information

Directors

Mr Anthony Lane

Ms Teresa Mary Lane

Registered office

42a Walnut Road
Torquay
Devon
TQ2 6HS

Accountants

Neil Wilson Accountancy Limited Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Tony Lane Consultancy & Development Ltd

(Registration number: 11675812)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,009

30,678

Current assets

 

Debtors

5

29,943

23,296

Cash at bank and in hand

 

11,400

21,429

 

41,343

44,725

Creditors: Amounts falling due within one year

6

(38,856)

(65,168)

Net current assets/(liabilities)

 

2,487

(20,443)

Total assets less current liabilities

 

25,496

10,235

Provisions for liabilities

(15,000)

-

Net assets

 

10,496

10,235

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

10,494

10,233

Shareholders' funds

 

10,496

10,235

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 May 2025 and signed on its behalf by:
 

.........................................
Mr Anthony Lane
Director

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42a Walnut Road
Torquay
Devon
TQ2 6HS

These financial statements were authorised for issue by the Board on 8 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

632

54,273

54,905

At 30 November 2024

632

54,273

54,905

Depreciation

At 1 December 2023

483

23,744

24,227

Charge for the year

37

7,632

7,669

At 30 November 2024

520

31,376

31,896

Carrying amount

At 30 November 2024

112

22,897

23,009

At 30 November 2023

149

30,529

30,678

5

Debtors

Current

2024
£

2023
£

Trade debtors

23,226

17,296

Other debtors

6,717

6,000

 

29,943

23,296

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

22,866

32,853

Taxation and social security

 

8,512

12,071

Accruals and deferred income

 

1,950

1,950

Other creditors

 

5,528

18,294

 

38,856

65,168

7

Share capital

Allotted, called up and fully paid shares

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

12,597

19,790

Hire purchase contracts

10,269

13,063

22,866

32,853

9

Dividends

2024

2023

£

£

Interim dividend of £20,000.00 (2023 - £7,000.00) per ordinary share

44,000

14,000

 

 

10

Related party transactions

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr Anthony Lane

Loan from director

(12,584)

15,624

-

3,040

Ms Teresa Mary Lane

Loan from director

6,000

828

(5,000)

1,828

2023

At 1 December 2022
£

Advances to director
£

At 30 November 2023
£

Mr Anthony Lane

Loan from director

(34,199)

21,615

(12,584)

Ms Teresa Mary Lane

Loan from director

6,000

-

6,000

 

Tony Lane Consultancy & Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

42,708

Contributions paid to money purchase schemes

54,998

39,996

80,138

82,704

Dividends paid to directors

2024
£

2023
£

Mr Anthony Lane

Inerim dividend paid

25,000

7,000

 

 

Ms Teresa Mary Lane

Interim dividend paid

25,000

7,000