Patrick Gill Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03935936 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Patrick Gill Consultants Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

P G Gill

SECRETARY:

Mrs H L Gill

REGISTERED OFFICE:

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

REGISTERED NUMBER:

03935936 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services 2018 Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

FIXED ASSETS

Tangible assets

4

10,269

10,887

Investments

5

404,724

404,724

Investment property

6

265,000

265,000

679,993

680,611

CURRENT ASSETS

Debtors

7

831,399

863,793

Prepayments and accrued income

4,000

4,000

Cash at bank

405,274

460,822

1,240,673

1,328,615

CREDITORS

Amounts falling due within one year

8

42,424

48,331

NET CURRENT ASSETS

1,198,249

1,280,284

TOTAL ASSETS LESS CURRENT LIABILITIES

1,878,242

1,960,895

PROVISIONS FOR LIABILITIES

11,317

8,668

NET ASSETS

1,866,925

1,952,227

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

1,866,924

1,952,226

SHAREHOLDERS' FUNDS

1,866,925

1,952,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2021 and were signed by:

P G Gill - Director

1.	STATUTORY INFORMATION

Patrick Gill Consultants Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In respect of long-term contracts and contracts for on-going services, turnover is recognised on the basis of work done and includes estimates of amounts earned but not invoiced at the year end. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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 etc

-

33% on cost and 25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Debtors

Short terms debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2020

30,898

Additions

3,073

At 31 August 2021

33,971

DEPRECIATION

At 1 September 2020

20,011

Charge for year

3,691

At 31 August 2021

23,702

NET BOOK VALUE

At 31 August 2021

10,269

At 31 August 2020

10,887

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 September 2020

and 31 August 2021

404,724

NET BOOK VALUE

At 31 August 2021

404,724

At 31 August 2020

404,724

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

and 31 August 2021

265,000

NET BOOK VALUE

At 31 August 2021

265,000

At 31 August 2020

265,000

Fair value at 31 August 2021 is represented by:

£

Valuation in 2021

35,000

Cost

230,000

265,000

If investment property had not been revalued it would have been included at the following historical cost:

31.8.21

31.8.20

£

£

Cost

230,000

230,000

Investment property was valued on an open market basis on 31 August 2021 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

9,600

37,200

Amounts owed by participating interests

673,791

673,791

Other debtors

148,008

152,802

831,399

863,793

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade creditors

441

1,949

Taxation and social security

40,483

44,914

Other creditors

1,500

1,468

42,424

48,331

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 September 2020

1,952,226

Profit for the year

73,698

Dividends

(159,000

)

At 31 August 2021

1,866,924

The amount of retained earnings which are not distributable are £26,250 (2020: £28,350).

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020:

31.8.21

31.8.20

£

£

P G Gill

Balance outstanding at start of year

152,802

-

Amounts advanced

160,901

307,674

Amounts repaid

(165,695

)

(154,872

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

148,008

152,802

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Patrick Gill Consultants Limited for the year ended 31 August 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Patrick Gill Consultants Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Patrick Gill Consultants Limited and state those matters that we have agreed to state to the director of Patrick Gill Consultants Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Patrick Gill Consultants Limited and its director for our work or for this report.

It is your duty to ensure that Patrick Gill Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Patrick Gill Consultants Limited. You consider that Patrick Gill Consultants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Patrick Gill Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lee Accounting Services 2018 Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

1 December 2021