ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2019.0.227 2019.0.227 2019-07-312019-07-3102018-08-01No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false00true 02898930 2018-08-01 2019-07-31 02898930 2017-08-01 2018-07-31 02898930 2019-07-31 02898930 2018-07-31 02898930 c:Director1 2018-08-01 2019-07-31 02898930 d:CurrentFinancialInstruments 2019-07-31 02898930 d:CurrentFinancialInstruments 2018-07-31 02898930 d:CurrentFinancialInstruments d:WithinOneYear 2019-07-31 02898930 d:CurrentFinancialInstruments d:WithinOneYear 2018-07-31 02898930 d:ShareCapital 2019-07-31 02898930 d:ShareCapital 2018-07-31 02898930 d:RetainedEarningsAccumulatedLosses 2019-07-31 02898930 d:RetainedEarningsAccumulatedLosses 2018-07-31 02898930 c:FRS102 2018-08-01 2019-07-31 02898930 c:AuditExempt-NoAccountantsReport 2018-08-01 2019-07-31 02898930 c:FullAccounts 2018-08-01 2019-07-31 02898930 c:PrivateLimitedCompanyLtd 2018-08-01 2019-07-31 02898930 2 2018-08-01 2019-07-31 iso4217:GBP xbrli:pure


Registered number: 02898930












N P CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019


REGISTERED NUMBER:02898930
N P CONSULTANTS LIMITED

BALANCE SHEET
AS AT 31 JULY 2019

2019
2018
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
2
2

Cash at bank and in hand
 6 
22,085
23,900

  
22,087
23,902

Creditors: amounts falling due within one year
 7 
(11,250)
(12,150)

Net current assets
  
 
 
10,837
 
 
11,752

Total assets less current liabilities
  
10,837
11,752

  

Net assets
  
10,837
11,752


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
10,835
11,750

  
10,837
11,752


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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies' regime within Part 15 of the Companies Act 2006 and in accordance with Section 1A of
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland.

The  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 by: 

D Peele
Director

Date: 30 September 2020

The notes on pages 2 to 5 form part of these financial statements.


- 1 -




N P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019

1.


General information

N P Consultants Limited is a private company limited by shares incorporated in England and Wales. Its registered office is Devonshire House, 60 Goswell Road, London, EC1M 7AD.
The financial statements are presented in Sterling (£).

2.Accounting policies

 
2.1

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 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:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate
resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements
were approved. Accordingly, she continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
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 company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
 
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
 

- 2 -




N P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019

2.Accounting policies (continued)




Financial instruments (continued)

Financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
 
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


- 3 -




N P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019

2.Accounting policies (continued)

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.5

Share capital

Ordinary shares are classified as equity.

  
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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 balance sheet date.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.


- 4 -




N P CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019

3.


Employees

The company has no employees other than the director, who did not receive any remuneration (2018 -£NIL).


4.


Debtors

2019
2018
£
£


Called up share capital not paid
2
2



5.


Dividend

2019
2018
        £
        £

Dividends declared and paid

0

5,600



6.


Cash and cash equivalents

2019
2018
£
£

Cash at bank and in hand
22,085
23,900



7.


Creditors: amounts falling due within one year

2019
2018
£
£

Other creditors
9,250
9,250

Accruals and deferred income
2,000
2,900

11,250
12,150



8.


Related party transactions

The company has a participating interest in Polbond Limited. At the balance sheet date, the company was owed an amount of £70,534 (2018: £70,534) by Polbond Limited. A provision has been made against the entire amount owed by Polbond Limited.

 

- 5 -