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2023-08-01
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09713167
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09713167
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2024-07-31
COMPANY REGISTRATION NUMBER:
09713167
|
Francesca Allen Consultancy Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Francesca Allen Consultancy Limited |
|
Year ended 31 July 2024
|
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
|
Statement of financial position |
2 to 3 |
|
|
|
Notes to the financial statements |
4 to 7 |
|
|
|
Francesca Allen Consultancy Limited |
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Francesca Allen Consultancy Limited |
|
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Francesca Allen Consultancy Limited for the year ended 31 July 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Francesca Allen Consultancy Limited in accordance with the terms of our engagement letter dated 17 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Francesca Allen Consultancy Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Francesca Allen Consultancy Limited and its director for our work or for this report.
It is your duty to ensure that Francesca Allen Consultancy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Francesca Allen Consultancy Limited. You consider that Francesca Allen Consultancy Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Francesca Allen Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES
Chartered accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
12 June 2025
|
Francesca Allen Consultancy Limited |
|
|
Statement of Financial Position |
|
31 July 2024
Fixed assets
|
Tangible assets |
5 |
9,760 |
11,970 |
|
|
|
|
Current assets
|
Stocks |
4,750 |
7,500 |
|
Debtors |
6 |
25,480 |
28,445 |
|
Cash at bank and in hand |
1,241 |
371 |
|
-------- |
-------- |
|
31,471 |
36,316 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
7,298 |
9,448 |
|
-------- |
-------- |
|
Net current assets |
24,173 |
26,868 |
|
-------- |
-------- |
|
Total assets less current liabilities |
33,933 |
38,838 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
40,367 |
40,710 |
|
-------- |
-------- |
|
Net liabilities |
(
6,434) |
(
1,872) |
|
-------- |
-------- |
|
|
|
|
|
Francesca Allen Consultancy Limited |
|
|
Statement of Financial Position (continued) |
|
31 July 2024
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
(
6,435) |
(
1,873) |
|
------- |
------- |
|
Shareholder deficit |
(
6,434) |
(
1,872) |
|
------- |
------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
10 June 2025
, and are signed on behalf of the board by:
Company registration number:
09713167
|
Francesca Allen Consultancy Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 362 Fulwood Road, Sheffield, S10 3GD.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the year end date, the Statement of Financial Position reflects a net total liability position. Despite this, the director is of the opinion that the going concern basis remains appropriate, with ongoing funding and arrangements in place to ratify this.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures, fittings and improvements to landlord property |
- |
20% straight line |
|
Office equipment |
- |
20% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
1
).
5.
Tangible assets
|
Fixtures, fittings and improvements to landlord property |
Office equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 August 2023 |
15,305 |
435 |
15,740 |
|
Additions |
605 |
519 |
1,124 |
|
-------- |
---- |
-------- |
|
At 31 July 2024 |
15,910 |
954 |
16,864 |
|
-------- |
---- |
-------- |
|
Depreciation |
|
|
|
|
At 1 August 2023 |
3,676 |
94 |
3,770 |
|
Charge for the year |
3,162 |
172 |
3,334 |
|
-------- |
---- |
-------- |
|
At 31 July 2024 |
6,838 |
266 |
7,104 |
|
-------- |
---- |
-------- |
|
Carrying amount |
|
|
|
|
At 31 July 2024 |
9,072 |
688 |
9,760 |
|
-------- |
---- |
-------- |
|
At 31 July 2023 |
11,629 |
341 |
11,970 |
|
-------- |
---- |
-------- |
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
25,480 |
28,445 |
|
-------- |
-------- |
|
|
|
Of the total debtors of £25,480 (2023 £28,445), £7,675 (2023 £8,902) is recoverable after more than one year from the current accounting reference date of 31 July 2024.
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
5,047 |
5,047 |
|
Trade creditors |
631 |
102 |
|
Corporation tax |
– |
3,549 |
|
Other creditors |
1,620 |
750 |
|
------- |
------- |
|
7,298 |
9,448 |
|
------- |
------- |
|
|
|
The bank loan, being a liability repayable over an eleven year term and included as a liability repayable within one year and after more than one year, is unsecured by the company, and was sourced under the facilities put in place by the UK Government under the coronavirus support arrangements. The loan is subject to an interest charge, after the initial 12 month interest free period, at the rate of 2.5% per annum. Of the total loan, £13,127 (2023 £13,470) is repayable more than five years after the accounting period end date.
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
40,367 |
40,710 |
|
-------- |
-------- |
|
|
|
9.
Operating leases
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Later than 1 year and not later than 5 years |
128,625 |
138,825 |
|
--------- |
--------- |
|
|
|
10.
Director's advances, credits and guarantees
As a result of a net repayment of funds to the company during the year, the opening balance on the director loan account, of £19,543 owing to the company, has been reduced by £3,635 to a net balance owing to the company, at the year end date, of £15,908. The balance has no formal terms for repayment and interest is not being charged on this loan.