General Information
Rolls-Bentley Consultancy Ltd is a private company, limited by shares, registered in England and Wales, registration number 14132139, registration address 3rd Floor, 86-90 Paul Street, London, EC2A 4NE. The trading address of the company is 21 Derby Hill, London, SE23 3YD.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover represents amounts receivable from the provision of art consultancy services and from the sale of artwork, measured at the fair value of consideration received or receivable, excluding VAT.
Revenue from art consultancy services is recognised as the services are performed. Where projects span multiple reporting periods, turnover is recognised on a percentage-of-completion basis, determined by reference to progress achieved on each assignment (such as time incurred, milestones delivered, or other reliable measures of performance). Revenue is recognised only when:- the company has an enforceable right to consideration for services delivered to date;
- it is probable that economic benefits will flow to the company; and
- the amount of revenue and associated costs can be measured reliably.
Any deposits or retainers invoiced in advance are deferred and recognised as income when the related services are provided.
Revenue from the sale of artwork is recognised when the significant risks and rewards of ownership transfer to the customer, which is typically when the artwork is delivered or made available for collection.
Where the company acts as an agent (e.g., arranging sales on behalf of an artist), only the commission earned is recognised as turnover. Where the company acts as principal, the full sale value is recognised as turnover.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company's liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Dividends are recognised in the financial statements in the period in which they are declared and approved by the shareholder(s). Dividends are paid at the discretion of the director and are subject to the availability of distributable reserves in accordance with the Companies Act 2006.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fittings, fixtures, tools and equipment |
over 5 years |
Related parties
Related party relationships and transactions are identified in accordance with FRS 102. Transactions with related parties are recognised at the transaction amount, unless otherwise required by the standard. Where material related party transactions have occurred during the year, these are disclosed in the notes to the financial statements.
|
| 2. |
Average number of employees
including directors and key management personnel.
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
| At 01 June 2024 |
11,424 |
|
11,424 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 May 2025 |
11,424 |
|
11,424 |
| Depreciation |
| At 01 June 2024 |
6,584 |
|
6,584 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 May 2025 |
6,584 |
|
6,584 |
| Net book values |
| Closing balance as at 31 May 2025 |
4,840 |
|
4,840 |
| Opening balance as at 01 June 2024 |
6,455 |
|
6,455 |
Plant and machinery etc includes Fixtures, fittings, tools and equipment.
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Other Debtors |
8,310 |
|
11,549 |
|
8,310 |
|
11,549 |
Within Other Debtors is an overdrawn director's loan balance of £8,260 (2024: £11,549 overdrawn). The director's loan overdrawn balance is an unsecured loan to the director with a zero percent interest rate and repayable on demand. The intention is for the overdrawn director's loan balance to be repaid within nine months of the year-end. |
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Taxation and Social Security |
14,359 |
|
24,569 |
| Other Creditors |
582 |
|
4,580 |
|
14,941 |
|
29,149 |
|
| 6. |
Other financial commitments
At the year end, there were no commitments or contracts for capital expenditure in place in the period (2024: NIL).
|
3
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