Bullhorn Consultants Limited Accounts

BULLHORN CONSULTANTS LIMITED - Company Information






Bullhorn Consultants Limited

	Company No. 09135354
		Information for Filing with The Registrar
		31 July 2018

at	31 July 2018
Company No.		09135354	Notes	2018	2017
				£	£






Current assets
	Stocks		2	9,500	-
	Debtors		3	18,981	20,055

	Cash at bank and in hand			967	11,396
				29,448	31,451
Creditors: Amount falling due within one year			4	(4,800)	(8,259)
Net current assets				24,648	23,192
Total assets less current liabilities				24,648	23,192




Net assets				24,648	23,192

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		5	24,548	23,092

Total equity				24,648	23,192


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 July 2018 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 24 April 2019
And signed on its behalf by:
H.S. Panwar
Director

for the year ended 31 July 2018

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income 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 profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Stocks
			2018	2017
			£	£

		Work in progress	9,500	-

			9,500	-

3	Debtors
			2018	2017
			£	£
		Trade debtors	5,906	11,330






		Payments in advance	13,075	8,725
			18,981	20,055

4	Creditors:
		amounts falling due within one year
			2018	2017
			£	£






		Corporation tax	342	1,550
		Other taxes and social security	3,469	5,870


		Accruals and deferred income	989	839
			4,800	8,259

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Additional information

Its registered number is:

09135354

1 Peel Drive

Clayhall

Ilford

Essex

IG5 0JR