Balance sheet continued

As at 31 December 2024

	Notes	2024 £	2023 £
Capital and reserves
Called up share capital:		100	100
Profit and loss account:		( 24,541 )	( 11,807 )
Shareholders funds:		( 24,441 )	( 11,707 )

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents the total amount of income receivable in respect of services provided to clients during the period. Income is recognised when the company has performed services in accordance with the agreement with the relevant client and has obtained a right to consideration for those services. Where such income has not been billed at the balance sheet date, it is included in debtors as unbilled amounts for client work.
  
  Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent that it is probable it will be recovered.

  Tangible fixed assets depreciation policy

  Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management. Depreciation is provided on all tangible fixed assets at rates which are calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
  
  Computer equipment - 33% on a straight line basis.
  Fixtures and fittings - 33% on a straight line basis.
  
  Profits and losses on the disposal of fixed assets are included in the calculation of profit for the period.