Paul Ravenhall Consulting Limited Filleted accounts for Companies House (small and micro)

PAUL RAVENHALL CONSULTING LTD - Company Information

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COMPANY REGISTRATION NUMBER: 7328539

Paul Ravenhall Consulting Limited

Filleted Unaudited Abridged Financial Statements

31 December 2019

Paul Ravenhall Consulting Limited

Abridged Financial Statements

Year ended 31st December 2019

Contents	Page

Officers and professional advisers	1

Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Notes to the abridged financial statements	5

Paul Ravenhall Consulting Limited

Officers and Professional Advisers

The board of directors	Mr P. Ravenhall
	Mrs D. Ravenhall

Company secretary	Mrs D. Ravenhall

Registered office	Studio One
	The White House
	Station Road
	West Hagley
	Stourbridge
	West Midlands
	DY9 0NU

Accountants	W H Audit Limited
	Accountants
	The White House
	Station Road
	West Hagley
	Stourbridge
	West Midlands
	DY9 ONU

Paul Ravenhall Consulting Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Paul Ravenhall Consulting Limited

Year ended 31st December 2019

As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31st December 2019, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

W H Audit Limited Accountants

The White House Station Road West Hagley Stourbridge West Midlands DY9 ONU

11 March 2020

Paul Ravenhall Consulting Limited

Abridged Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	6		1,143	839

Current assets

Debtors	7	52,239	40,331
Cash at bank and in hand		–	245
		--------	--------
		52,239	40,576

Creditors: amounts falling due within one year	8	51,689		40,984
		--------		--------
Net current assets/(liabilities)			550	( 408)
			-------	----
Total assets less current liabilities			1,693	431
			-------	----
Net assets			1,693	431
			-------	----

Paul Ravenhall Consulting Limited

Abridged Statement of Financial Position (continued)

31 December 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,593	331
	-------	----
Shareholders funds	1,693	431
	-------	----

These abridged 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 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 abridged statement of income and retained earnings has not been delivered.

For the year ending 31st December 2019 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 abridged 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 abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 11 March 2020 , and are signed on behalf of the board by:

Mr P. Ravenhall

Director

Company registration number: 7328539

Paul Ravenhall Consulting Limited

Notes to the Abridged Financial Statements

Year ended 31st December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Studio One, The White House, Station Road, West Hagley, Stourbridge, DY9 0NU, West Midlands.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Fixrures and fittings	-	25% reducing balance

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2018: 3 ).

5. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2019	2018
	£	£
Equity dividends paid on ordinary shares	22,000	42,000
	--------	--------

6. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1st January 2019	3,660	3,660
Additions	666	666
	-------	-------
At 31st December 2019	4,326	4,326
	-------	-------
Depreciation
At 1st January 2019	2,821	2,821
Charge for the year	362	362
	-------	-------
At 31st December 2019	3,183	3,183
	-------	-------
Carrying amount
At 31st December 2019	1,143	1,143
	-------	-------
At 31st December 2018	839	839
	-------	-------

7. Debtors

	2019	2018
	£	£
Trade debtors	52,195	31,770
Other debtors	44	8,561
	--------	--------
	52,239	40,331
	--------	--------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	7,649	4,419
Trade creditors	2,000	8,778
Accruals and deferred income	3,586	1,666
Corporation tax	11,611	16,833
Social security and other taxes	9,345	8,977
Director loan accounts	644	–
Other creditors	16,854	311
	--------	--------
	51,689	40,984
	--------	--------

9. Directors' advances, credits and guarantees

At the year end, the directors' loan account was £644 in credit . At the end of the prior year, it was £8,561 overdrawn, and was rectified shortly thereafter.