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REGISTERED NUMBER: 04090965 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Richard Sullivan Consulting Ltd

Richard Sullivan Consulting Ltd (Registered number: 04090965)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Richard Sullivan Consulting Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: R J Sullivan



SECRETARY: Dr F D Sullivan



REGISTERED OFFICE: 2nd Floor
33 Park Place
Leeds
West Yorkshire
LS1 2RY



REGISTERED NUMBER: 04090965 (England and Wales)



ACCOUNTANTS: Ford Campbell Freedman Limited
Chartered accountants
2nd Floor
33 Park Place
Leeds
LS1 2RY



BANKERS: Co-Op
PO Box 250
Skelmersdale
WN8 6WT

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Richard Sullivan Consulting Ltd


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard Sullivan Consulting Ltd for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Richard Sullivan Consulting Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Richard Sullivan Consulting Ltd and state those matters that we have agreed to state to the director of Richard Sullivan Consulting Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Sullivan Consulting Ltd and its director for our work or for this report.

It is your duty to ensure that Richard Sullivan Consulting Ltd 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 profit of Richard Sullivan Consulting Ltd. You consider that Richard Sullivan Consulting Ltd 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 Richard Sullivan Consulting Ltd. 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.






Ford Campbell Freedman Limited
Chartered accountants
2nd Floor
33 Park Place
Leeds
LS1 2RY


1 May 2025

Richard Sullivan Consulting Ltd (Registered number: 04090965)

Statement of Financial Position
31 October 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 109 128
Investment property 6 3,352,995 3,163,865
3,353,104 3,163,993

CURRENT ASSETS
Debtors 7 7,097 9,722
Cash at bank 6,732 9,816
13,829 19,538
CREDITORS
Amounts falling due within one year 8 132,517 45,785
NET CURRENT LIABILITIES (118,688 ) (26,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,234,416

3,137,746

CREDITORS
Amounts falling due after more than one
year

9

(1,180,855

)

(1,211,366

)

PROVISIONS FOR LIABILITIES (255,669 ) (208,386 )
NET ASSETS 1,797,892 1,717,994

CAPITAL AND RESERVES
Called up share capital 10 10
Revaluation reserve 1,442,218 1,300,371
Retained earnings 355,664 417,613
1,797,892 1,717,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Richard Sullivan Consulting Ltd (Registered number: 04090965)

Statement of Financial Position - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 May 2025 and were signed by:





R J Sullivan - Director


Richard Sullivan Consulting Ltd (Registered number: 04090965)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Richard Sullivan Consulting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the measurement of investment properties at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency.

Going concern
The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. This assumption is also based on the continuing support of the director. Such support has been maintained since the year end and will continue to be made available to the extent required to enable the company to meet its liabilities as and when they fall due for a period of at least twelve months from the date of approval of these accounts.

Accordingly, the director believes that it is appropriate to prepare the accounts on a going concern basis.

Revenue recognition
Turnover represents rental income from tenants and consultancy fees. Rental income is recognised over the term of the lease. Consultancy income is recognised for services rendered during the period.

Tangible fixed 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.

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 -15% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Richard Sullivan Consulting Ltd (Registered number: 04090965)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 November 2023
and 31 October 2024 2,000
DEPRECIATION
At 1 November 2023 1,872
Charge for year 19
At 31 October 2024 1,891
NET BOOK VALUE
At 31 October 2024 109
At 31 October 2023 128

6. INVESTMENT PROPERTY
Total
£
COST OR VALUATION
At 1 November 2023 3,163,865
Revaluations 189,130
At 31 October 2024 3,352,995
NET BOOK VALUE
At 31 October 2024 3,352,995
At 31 October 2023 3,163,865

The director of the company has valued the investment properties on an open market value basis as at 31 October 2024.


Richard Sullivan Consulting Ltd (Registered number: 04090965)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 7,560
Other debtors 7,097 2,162
7,097 9,722

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 1,842 29,185
Other creditors 130,675 16,600
132,517 45,785

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 1,180,855 1,211,366

Included within creditors: amounts falling due after more than one year is an amount of £644,756 (2023: £1,211,366) in respect of liabilities payable or repayable by installments which fall due for payment after more than five years from the reporting date.

These amounts are secured over the property assets of the company.

10. RELATED PARTIES

At 31 October 2024 the company owed its director £115,830 (2023: £3,493). The balance is interest free and repayable on demand.