Registration number: NI033157

The Sharp Pencil Consultancy Limited

(Registration number: NI033157)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	60,569	87,395
Current assets
Debtors	5	5,353,495	6,146,333
Cash at bank and in hand		75,980	656,844
		5,429,475	6,803,177
Creditors: Amounts falling due within one year	6	(5,043,322)	(5,516,046)
Net current assets		386,153	1,287,131
Total assets less current liabilities		446,722	1,374,526
Creditors: Amounts falling due after more than one year	6	(4,774)	(14,895)
Provisions for liabilities		-	(72)
Net assets		441,948	1,359,559
Capital and reserves
Called up share capital	7	20,000	20,000
Retained earnings		421,948	1,339,559
Shareholders' funds		441,948	1,359,559

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The Sharp Pencil Consultancy Limited

(Registration number: NI033157)
Balance Sheet as at 31 October 2025

Approved and authorised by the Board on 24 June 2026 and signed on its behalf by:
 

......................................... Mr Neil Marshall Black Director

......................................... Mr Paul Heyes Director

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 1 Ballymena Road, Doagh, Ballyclare, County Antrim, BT39 0QR.

These financial statements were authorised for issue by the Board on 24 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance basis
Equipment	25% reducing balance basis
Computer equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 12).

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4	Tangible assets

	Equipment £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 November 2024	208,764	194,524	76,678	479,966
Additions	-	-	973	973
Disposals	(204,237)	(95,878)	(67,011)	(367,126)
At 31 October 2025	4,527	98,646	10,640	113,813
Depreciation
At 1 November 2024	203,631	118,397	70,543	392,571
Charge for the year	472	18,496	1,221	20,189
Eliminated on disposal	(200,996)	(93,736)	(64,784)	(359,516)
At 31 October 2025	3,107	43,157	6,980	53,244
Carrying amount
At 31 October 2025	1,420	55,489	3,660	60,569
At 31 October 2024	5,133	76,127	6,135	87,395

5

Debtors

Current	Note	2025 £	2024 £
Trade debtors		17,013	7,261
Owed by group undertakings	10	4,985,368	5,870,368
Loans to related parties	10	135,607	168,300
Prepayments		1,370	7,344
Other debtors		214,137	93,060
		5,353,495	6,146,333

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

The amount owed by related parties is secured and interest is charged at 4.89%.

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	10,000	10,000
Trade creditors		8,588	252,517
Amounts owed to group undertakings	10	4,981,443	4,940,079
Taxation and social security		18,906	242,133
Accruals and deferred income		19,665	62,184
Other creditors		4,720	9,133
		5,043,322	5,516,046

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	4,774	14,895

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	20,000	20,000	20,000	20,000

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	4,774	14,895

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000

Bank borrowings at the balance sheet date totalling £14,774 (2024: £24,895) are secured by the UK government under the Bounce Back Loan Scheme.

 

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	38,423	48,759
Later than one year and not later than five years	8,232	48,385
	46,655	97,144

The amount of non-cancellable operating lease payments recognised as an expense during the year was £48,167 (2024 - £64,401).

The Sharp Pencil Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

10	Related party transactions

The company has taken advantage of exemption, under the terms of FRS 102, not to disclose related party transactions with wholly owned subsidiaries within the Group.

	2025		2024
	£		£
Included in debtors
Amount owed by associated company Cicero Limited	135,607		168,300
Amounts included in loan interest received
Interest received from associated company Cicero Limited	9,540		2,416

11	Parent and ultimate parent undertaking

The company's immediate parent is Ancre Developments Limited, incorporated in Northern Ireland.