The Terra Firma Consultancy Limited Accounts

THE TERRA FIRMA CONSULTANCY LIMITED - Company Information






The Terra Firma Consultancy Limited

	Company No. 04049802
		Director's Report and Audited Accounts
		30 April 2020

The Director presents his report and the accounts for the year ended 30 April 2020.

Principal activities
The principal activity of the company during the year under review was landscape architects.




Director

The Director who served at any time during the year was as follows:

Lionel Fanshawe













































Statement of director's responsibilities
The Director is responsible for preparing the Director's report and the accounts in accordance with applicable law and regulations.
Company law requires the director to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
*	select suitable accounting policies and then apply them consistently;
*	make judgments and estimates that are reasonable and prudent;
*	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.













The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Lionel Fanshawe
Director
22 September 2020

Independent Auditor's Report to the members of The Terra Firma Consultancy Limited

Opinion
We have audited the accounts of The Terra Firma Consultancy Limited (the 'company') for the year ended 30 April 2020 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the Notes to the Accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' .

In our opinion the accounts:
	• give a true and fair view of the state of the company's affairs as at 30 April 2020 and of its loss for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK). Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
	• the directors' use of the going concern basis of accounting in the preparation of the accounts is not appropriate; or • the directors' have not disclosed in the accounts any identified material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the accounts are authorised for issue.

Other information
The other information comprises the information included in the annual report and accounts, other than the accounts and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
	• the information given in the directors' report for the financial year for which the accounts are prepared is consistent with the accounts; and
	• the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
	• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
	• the accounts are not in agreement with the accounting records and returns; or
	• certain disclosures of directors’ remuneration specified by law are not made; or
	• we have not received all the information and explanations we require for our audit; or
	• the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement found in the directors' report, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.


Use of this report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gillian McIntosh
Senior Statutory Auditor
For and on behalf of		MMO Ltd
Accountants and Statutory Auditors
Wellesley House
204 London Road
Waterlooville

PO7 7AN
22 September 2020

for the year ended 30 April 2020

		2020		2019

		£		£
Turnover	1	857,553	1	968,497

Cost of Sales	1	(60,824)	1	(120,654)

Gross profit	1	796,729	1	847,843

Distribution costs and selling expenses	1	(4,013)	1	(3,832)

Administrative expenses	1	(615,822)	1	(731,447)

Other operating income	1	11,599	1	419

Operating profit		188,493		112,983



Other interest receivable	1	175	1	34



Interest payable and similar charges	1	(1,600)	1	(3,038)



Profit on ordinary activities before taxation		187,068		109,979

Taxation	1	(40,251)	1	(21,222)

Profit for the financial year after taxation	9	146,817	9	88,757

STATEMENT OF COMPREHENSIVE INCOME

for the year ended 30 April 2020

	2020	2019

	£	£
Profit for the financial year after taxation	146,817	88,757







Total comprehensive income for the period	146,817	88,757

at	30 April 2020

Company No.		04049802	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	17,649	24,283

	Investments		5	10,950	12,586
				28,599	36,869
Current assets

	Debtors		6	138,326	121,442

	Cash at bank and in hand			182,384	140,191
				320,710	261,633
Creditors: Amount falling due within one year			7	(205,081)	(199,194)
Net current assets				115,629	62,439
Total assets less current liabilities				144,228	99,308

Provisions for liabilities
	Deferred taxation		8	(3,353)	-

Net assets				140,875	99,308

Capital and reserves
	Called up share capital			2	2



	Profit and loss account		9	140,873	99,306

Total equity				140,875	99,308



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.









Approved by the board on 22 September 2020

And signed on its behalf by:

Lionel Fanshawe
Director
22 September 2020

for the year ended 30 April 2020

		Share Capital	Retained earnings	Total equity
		£	£	£
	At 1 May 2018	2	100,749	100,751




	Profit for the period		88,757	88,757

	Dividends		(90,200)	(90,200)





	At 30 April 2019 and 1 May 2019	2	99,306	99,308




	Profit for the period		146,817	146,817

	Dividends		(105,250)	(105,250)
	At 30 April 2020	2	140,873	140,875

for the year ended 30 April 2020

General information

Its registered number is: 04049802

Its registered office is:

Suite B, Ideal House

Bedford Road

Petersfield

Hampshire

GU32 3QA

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.

Accounting policies

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.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

20% Straight line

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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

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

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

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.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

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.

3	Employees
			2020	2019
			Number	Number
		The average number of persons employed during the year :	16	15

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 May 2019	41,815	41,815
		Additions	2,902	2,902



		At 30 April 2020	44,717	44,717
		Depreciation
		At 1 May 2019	17,532	17,532
		Charge for the year	9,536	9,536



		At 30 April 2020	27,068	27,068
		Net book values
		At 30 April 2020	17,649	17,649
		At 30 April 2019	24,283	24,283

5	Investments
			Investment in Subsidiaries	Total
			£	£
		Cost or valuation
		At 1 May 2019	12,586	12,586


		Disposals	(1,636)	(1,636)
		At 30 April 2020	10,950	10,950
		Provisions/Impairment





		Net book values
		At 30 April 2020	10,950	10,950
		At 30 April 2019	12,586	12,586

6	Debtors
			2020	2019
			£	£
		Trade debtors	126,614	114,491
		Amounts owed by group undertakings	2,108	1,440





		Prepayments and accrued income	9,604	5,511
			138,326	121,442

7	Creditors:
		amounts falling due within one year
			2020	2019
			£	£




		Trade creditors	11,305	12,406

		Corporation tax	36,803	21,222
		Other taxes and social security	67,555	76,748
		Loans from directors	80,017	80,019
		Other creditors	4,600	4,600
		Accruals and deferred income	4,801	4,199
			205,081	199,194

8	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£

		Charge to the profit and loss account for the period	3,353	3,353

		At 30 April 2020	3,353	3,353



			2020	2019
			£	£
		Accelerated capital allowances	3,353	-



			3,353	-

Reserves

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