| 494 Consulting Limited |
| Notes to the Accounts |
| for the year ended 31 October 2019 |
|
|
| 1 |
Accounting policies |
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|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and 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). |
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, tools and equipment |
20% reducing balance |
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Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Tangible fixed assets |
|
|
|
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|
|
|
|
Fixtures, fittings, tools and equipment |
| £ |
|
Cost |
|
At 1 November 2018 |
2,951 |
|
Additions |
661 |
|
At 31 October 2019 |
3,612 |
|
|
|
|
|
|
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|
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Depreciation |
|
At 1 November 2018 |
852 |
|
Charge for the year |
552 |
|
At 31 October 2019 |
1,404 |
|
|
|
|
|
|
|
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|
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Net book value |
|
At 31 October 2019 |
2,208 |
|
At 31 October 2018 |
2,099 |
|
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| 3 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
33,883 |
|
- |
|
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| 4 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade creditors |
1,000 |
|
825 |
|
Corporation tax |
14,824 |
|
3,232 |
|
Other taxes and social security costs |
5,511 |
|
- |
|
Other creditors |
3,039 |
|
1 |
|
|
|
|
|
|
24,374 |
|
4,058 |
|
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| 5 |
Controlling party |
|
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Faiza Sadaf Khokhar is the ultimate controlling party. |
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| 6 |
Other information |
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494 Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
31 Oakdale |
|
Southgate |
|
London |
|
N14 5RA |
