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COMPANY REGISTRATION NUMBER: 06510462
H Joseph Consultants Limited
Filleted Unaudited Financial Statements
30 September 2024
H Joseph Consultants Limited
Financial Statements
Year Ended 30 September 2024
Contents
Page
Statement of Financial Position
1
Notes to the Financial Statements
3
H Joseph Consultants Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
6
26
31
Current Assets
Work in progress
20,000
Debtors
7
60
156
Cash at bank and in hand
106,880
80,000
---------
---------
106,940
100,156
Creditors: amounts falling due within one year
8
21,950
5,953
---------
---------
Net Current Assets
84,990
94,203
--------
--------
Total Assets Less Current Liabilities
85,016
94,234
--------
--------
Net Assets
85,016
94,234
--------
--------
Capital and Reserves
Called up share capital
100
100
Profit and loss account
84,916
94,134
--------
--------
Shareholders Funds
85,016
94,234
--------
--------
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 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
H Joseph Consultants Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 9 May 2025 , and are signed on behalf of the board by:
Mr H.M. Joseph
Director
Company registration number: 06510462
H Joseph Consultants Limited
Notes to the Financial Statements
Year Ended 30 September 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 27 Hawthorn Grove, Heaton Moor, Stockport, Cheshire, SK4 4HZ.
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.
Revenue Recognition
Turnover represents fees earned under a variety of contracts to provide professional services. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding Value Added Tax. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration for its performance under these contracts. Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
Corporation Tax
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 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Furniture and fittings
-
15% reducing balance
Office equipment
-
25% 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.
Work in Progress
Work in progress consisting of unbilled fees is recognised on the basis of time spent and valued at the amount expected to be billed in respect of that time.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
480,000
---------
Amortisation
At 1 October 2023 and 30 September 2024
480,000
---------
Carrying amount
At 30 September 2024
---------
At 30 September 2023
---------
6. Tangible Assets
Furniture and fittings
Office equipment
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
70
509
579
----
----
----
Depreciation
At 1 October 2023
39
509
548
Charge for the year
5
5
----
----
----
At 30 September 2024
44
509
553
----
----
----
Carrying amount
At 30 September 2024
26
26
----
----
----
At 30 September 2023
31
31
----
----
----
7. Debtors
2024
2023
£
£
Trade debtors
60
144
Other debtors
12
----
----
60
156
----
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
96
96
Corporation tax
17,355
4,621
Social security and other taxes
3,702
Other creditors
797
1,236
--------
-------
21,950
5,953
--------
-------