For the financial year ended 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

David Heywood Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is North Bend, Onslow Crescent, Woking, Surrey, England, GU22 7AX.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover comprises fees earned from consultancy services, excluding VAT and after deducting discounts.

Revenue from consultancy services is recognised by reference to the stage of completion where revenue, costs and progress can be measured reliably and receipt of the economic benefits is probable. The stage of completion is determined by comparing costs attributable to work performed with the estimated total contract costs.

Where the outcome of a contract cannot be estimated reliably, revenue is recognised only to the extent of costs incurred that are expected to be recovered.

Fees earned but not invoiced are included in accrued income. Amounts invoiced or received before the related services are performed are included in deferred income.

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents comprise cash in hand, demand deposits and short-term, highly liquid investments readily convertible into known amounts of cash and subject to insignificant changes in value. Such investments normally have original maturities of three months or less.

Bank overdrafts are presented separately within current liabilities.

The company applies Sections 11 and 12 of FRS 102. Financial instruments are recognised when the company becomes a party to their contractual terms.

Basic financial assets and liabilities are initially measured at transaction price, adjusted for transaction costs. Financing transactions are initially measured at the present value of future cash flows discounted at a market rate for similar debt.

Basic debt instruments are subsequently measured at amortised cost using the effective interest method. Short-term balances on normal business terms without a financing element are measured at the undiscounted amount receivable or payable.

Financial assets measured at cost or amortised cost are assessed for objective evidence of impairment at each reporting date. Impairment losses are recognised in profit or loss.

Financial assets and liabilities are offset only where an enforceable right of set-off exists and net or simultaneous settlement is intended.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is recognised on timing differences between the recognition of income and expenditure in the financial statements and their inclusion in tax computations, subject to the exceptions in Section 29 of FRS 102.

Deferred tax assets are recognised only where recovery against reversing deferred tax liabilities or future taxable profits is probable. Their recoverability is reassessed at each reporting date.

Deferred tax is measured using rates and laws enacted or substantively enacted at the reporting date that are expected to apply when the timing differences reverse. Deferred tax balances are not discounted.

Deferred tax is recognised in profit or loss unless it relates to an item recognised in other comprehensive income or directly in equity, in which case it is recognised in the same component.

Deferred tax assets and liabilities are offset where the company has an enforceable right to offset current tax assets and liabilities and the deferred tax balances relate to the same taxable company and taxation authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The average monthly number of persons (including directors) employed by the company during the year was: