Westernacher & Partner Consulting Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05729826

Westernacher & Partner Consulting Ltd

Filleted Abridged Financial Statements

31 December 2024

Westernacher & Partner Consulting Ltd

Abridged Financial Statements

Year ended 31 December 2024

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	2

Westernacher & Partner Consulting Ltd

Abridged Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		23,198	22,049

Current assets

Debtors	1,960,342	1,214,716
Cash at bank and in hand	1,973,872	1,064,949
	------------	------------
	3,934,214	2,279,665

Creditors: amounts falling due within one year	2,979,925		1,774,552
	------------		------------
Net current assets		954,289	505,113
		---------	---------
Total assets less current liabilities		977,487	527,162
		---------	---------
Net assets		977,487	527,162
		---------	---------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	976,487	526,162
	---------	---------
Shareholders funds	977,487	527,162
	---------	---------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:

Mr R Brooks	Mr MJ Eames
Director	Director

Company registration number: 05729826

Westernacher & Partner Consulting Ltd

Notes to the Abridged Financial Statements

Year ended 31 December 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 Scott House, Waterloo Station, Suite 1, The Concourse, London, SE1 7LY, England. The principal activity of the Company was that of management consultancy.

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'. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies .

Foreign currencies

Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Operating leases: The company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Income 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.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Tangible assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

	Computer Equipment	-	33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Impairment of fixed assets

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Financial instruments

Financial assets, including trade and other receivables, cash and bank balances and investments, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. A financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 39 (2023: 31 ).

5. Tangible assets

	£
Cost
At 1 January 2024	109,323
Additions	23,464
Disposals	( 42,067)
	---------
At 31 December 2024	90,720
	---------
Depreciation
At 1 January 2024	87,274
Charge for the year	22,315
Disposals	( 42,067)
	---------
At 31 December 2024	67,522
	---------
Carrying amount
At 31 December 2024	23,198
	---------
At 31 December 2023	22,049
	---------

6. Employee benefits

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £47,763 (2023 - £36,431). Contributions totalling £NIL (2023 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	24,349	30,060
Later than 1 year and not later than 5 years	–	26,380
	--------	--------
	24,349	56,440
	--------	--------

8. Summary audit opinion

The auditor's report dated 3 April 2025 was unqualified .

The senior statutory auditor was Justin Moss MA FCA , for and on behalf of MHA, Statutory Auditor .

9. Related party transactions

The Company has taken advantage of the exemption in paragraph 1AC. 35 of FRS102 not to disclose transactions with wholly owned group entities.

10. Controlling party

The company is controlled by Westernacher & Partner Consulting Inc., a company registered in the United States of America, who own 100% of the called up share capital. The ultimate parent company of the group is Dr. Westernacher & Partner Unternehmensberatung AG, incorporated in Germany. A copy of its consolidated financial statements are available from Im Schuhmachergewann 6, 69123 Heidelberg, Germany. There is no ultimate controlling party.