Setfords Consultants Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07715931 (England and Wales)

Financial Statements

for the Year Ended 31 July 2020

for

Setfords Consultants Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D C Setford

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

07715931 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

2,092

3,057

CURRENT ASSETS

Debtors

6

64,026

62,641

Cash at bank and in hand

3,681

101

67,707

62,742

CREDITORS

Amounts falling due within one year

7

(62,081

)

(62,689

)

NET CURRENT ASSETS

5,626

53

TOTAL ASSETS LESS CURRENT LIABILITIES

7,718

3,110

CREDITORS

Amounts falling due after more than one year

8

-

(1,843

)

NET ASSETS

7,718

1,267

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7,618

1,167

SHAREHOLDERS' FUNDS

7,718

1,267

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2020 and were signed by:

D C Setford - Director

1.	STATUTORY INFORMATION

Setfords Consultants Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 August 2019

3,571

208

3,290

7,069

Additions

-

-

719

719

At 31 July 2020

3,571

208

4,009

7,788

Depreciation

At 1 August 2019

1,428

171

2,413

4,012

Charge for year

715

9

960

1,684

At 31 July 2020

2,143

180

3,373

5,696

Net book value

At 31 July 2020

1,428

28

636

2,092

At 31 July 2019

2,143

37

877

3,057

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Trade debtors

37,671

52,312

Other debtors

26,355

10,329

64,026

62,641

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/20

31/7/19

£

£

Bank loans and overdrafts

-

12,120

Trade creditors

2,025

7,063

Taxation and social security

19,948

23,314

Other creditors

40,108

20,192

62,081

62,689

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/20

31/7/19

£

£

Other creditors

-

1,843