Buckingham Consulting Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07018537

BUCKINGHAM CONSULTING LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2025

BUCKINGHAM CONSULTING LTD

STATEMENT OF FINANCIAL POSITION

28 February 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		68,828		45,122

CURRENT ASSETS

Debtors	6	40,965	13,705
Cash at bank and in hand		12,677	27,154
		--------	--------
		53,642	40,859

CREDITORS: amounts falling due within one year	7	49,140		54,935
		--------		--------
NET CURRENT ASSETS/(LIABILITIES)			4,502		( 14,076)
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			73,330		31,046

CREDITORS: amounts falling due after more than one year	8		121,544		80,812

PROVISIONS

Taxation including deferred tax	1,377	( 2,210)
	----------	--------
NET LIABILITIES	( 49,591)	( 47,556)
	----------	--------

CAPITAL AND RESERVES

Called up share capital	1,600	1,233
Profit and loss account	( 51,191)	( 48,789)
	--------	--------
SHAREHOLDERS FUNDS	( 49,591)	( 47,556)
	--------	--------

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 comprehensive income has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BUCKINGHAM CONSULTING LTD

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 27 April 2026 , and are signed on behalf of the board by:

Mr J Bradford

Director

Company registration number: 07018537

BUCKINGHAM CONSULTING LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4 Middlethorpe Business Park, Sim Balk Lane, Bishopthorpe, York, YO23 2BD, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. At the year end there were more liabilities than assets in the company. The directors have committed to the continued funding of the company and as such, the directors have prepared these financial statements on a going concern basis.

(c) Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

(d) Current & deferred 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.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) 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:

Plant and machinery	-	25% straight line
Motor vehicles	-	20% reducing balance

(g) 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.

(h) Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

(i) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. TANGIBLE ASSETS

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 March 2024	29,585	56,628	86,213
Additions	4,722	65,510	70,232
Disposals	( 88)	( 56,628)	( 56,716)
	--------	--------	--------
At 28 February 2025	34,219	65,510	99,729
	--------	--------	--------
Depreciation
At 1 March 2024	13,457	27,634	41,091
Charge for the year	4,430	13,102	17,532
Disposals	( 88)	( 27,634)	( 27,722)
	--------	--------	--------
At 28 February 2025	17,799	13,102	30,901
	--------	--------	--------
Carrying amount
At 28 February 2025	16,420	52,408	68,828
	--------	--------	--------
At 29 February 2024	16,128	28,994	45,122
	--------	--------	--------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	24,348	12,250
Other debtors	16,617	1,455
	--------	--------
	40,965	13,705
	--------	--------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,889	1,930
Accruals and deferred income	5,258	124
Social security and other taxes	11,597	15,382
Shareholder loan account - C Linley-Bradford	–	( 5,803)
Directors Loan Account - J Bradford	12,824	43,302
Other creditors	17,572	–
	--------	--------
	49,140	54,935
	--------	--------

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	66,309	43,707
Obligations under finance leases and hire purchase contracts	55,235	37,105
	----------	--------
	121,544	80,812
	----------	--------

9. RELATED PARTY TRANSACTIONS

The director operates a director's loan account with the Company. This loan was interest free and repayable on demand. At the year end, the company owed the director £ 12,824 . In the previous year, the company owed the director £ 43,302 .