ACCOUNTS - Final Accounts preparation

CAMPBELL SAFETY CONSULTANCY LIMITED - Company Information

Registered number: 07052597

Campbell Safety Consultancy Limited

Financial statements

Information for filing with the registrar

31 October 2019


Campbell Safety Consultancy Limited

Statement of financial position

As at 31 October 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	5		133		328
			133		328
Current assets
Debtors	6	158,384		176,165
Cash at bank and in hand		15,052		30,263
		173,436		206,428
Creditors: amounts falling due within one year	7	(54,975)		(72,773)
Net current assets			118,461		133,655
Total assets less current liabilities			118,594		133,983
Provisions for liabilities
Deferred tax	8	(23)		(62)
			(23)		(62)
Net assets			118,571		133,921

Capital and reserves
Called up share capital	10	10
Profit and loss account	118,561	133,911
Shareholders Funds	118,571	133,921


Campbell Safety Consultancy Limited

Statement of financial position (continued)

As at 31 October 2019

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2020.

D Campbell

Director

The notes on pages 3 to 7 form part of these financial statements.
Company registration number: 07052597


Campbell Safety Consultancy Limited

Notes to the financial statements

For the year ended 31 October 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 35 Holt Drive, Loughborough, Leicestershire, LE11 3HZ, England.

2.	Statement of compliance

These 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

3.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

3.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.


Campbell Safety Consultancy Limited

Notes to the financial statements

For the year ended 31 October 2019

3.Accounting policies (continued)

3.3

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%	straight line
				Office equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


Campbell Safety Consultancy Limited

Notes to the financial statements

For the year ended 31 October 2019

3.Accounting policies (continued)

3.5

Provisions for liabilities

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 profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the statement of financial position 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 statement of financial position.

3.6

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4.	Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.


Campbell Safety Consultancy Limited

Notes to the financial statements

For the year ended 31 October 2019

5.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£
Cost or valuation
At 1 November 2018	249	796	1,045
At 31 October 2019	249	796	1,045
Depreciation
At 1 November 2018	166	551	717
Charge for the year on owned assets	62	133	195
At 31 October 2019	228	684	912
Net book value
At 31 October 2019	21	112	133
At 31 October 2018	83	245	328

Debtors

					2019	2018
					£	£


Trade debtors	3,201	2,883
Other debtors	154,696	172,813
Prepayments and accrued income	487	469
	158,384	176,165


Campbell Safety Consultancy Limited

Notes to the financial statements

For the year ended 31 October 2019

7.	Creditors: amounts falling due within one year
		2019	2018
		£	£

Trade creditors	9,671	-
Corporation tax	35,982	50,912
Other taxation and social security	4,322	3,678
Accruals and deferred income	5,000	18,183
	54,975	72,773

8.	Deferred taxation

		2019
		£

	At beginning of year	(62)
	Charged to profit or loss	39
	At end of year	(23)

The provision for deferred taxation is made up as follows:
	2019	2018
	£	£

	Accelerated capital allowances	(23)	(62)
		(23)	(62)