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Registration number: 07848671

Prepared for the registrar

LWE Consultancy Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

LWE Consultancy Ltd

(Registration number: 07848671)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,035

Current assets

 

Debtors

5

52,677

132,205

Cash at bank and in hand

 

-

190

 

52,677

132,395

Creditors: Amounts falling due within one year

6

(61,206)

(72,536)

Net current (liabilities)/assets

 

(8,529)

59,859

Net (liabilities)/assets

 

(8,529)

60,894

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(8,530)

60,893

Shareholders' (deficit)/funds

 

(8,529)

60,894

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.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 May 2025
 


L Wilson
Director

 

LWE Consultancy Ltd

Notes to the 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:
1 Hales Close
Cheltenham
GL52 6TE

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements and key sources of estimation uncertainty

No significant judgements or key sources of estimation uncertainty have been made by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 and after eliminating sales within the company.

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 current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 statement of financial position 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.

 

LWE Consultancy Ltd

Notes to the 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% on cost

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

LWE Consultancy Ltd

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

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 December 2023

5,524

Disposals

(5,524)

At 30 November 2024

-

Depreciation

At 1 December 2023

4,489

Charge for the year

397

Eliminated on disposal

(4,886)

At 30 November 2024

-

Carrying amount

At 30 November 2024

-

At 30 November 2023

1,035

 

5

Debtors

2024
£

2023
£

Other debtors

52,677

132,205

52,677

132,205

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank overdraft

7

-

Taxation and social security

 

59,699

70,028

Accruals and deferred income

 

1,500

2,508

 

61,206

72,536

 

7

Related party transactions

At 30 November 2024, the director L Wilson owed the company £36,532 (2023 - £112,536). Interest of £1,677 (2023 - £2,416) has been charged in the year and the loan is repayable on demand.