Kynance Business Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12051103 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2021

for

Kynance Business Consulting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr D J Suckling FCA

Mrs E A Suckling

REGISTERED OFFICE:

143 Ware Road

Hertford

Hertfordshire

SG13 7EG

REGISTERED NUMBER:

12051103 (England and Wales)

ACCOUNTANTS:

DSCO

The Old Boardroom

Collett Road

Ware

Hertfordshire

SG12 7LR

CURRENT ASSETS

Debtors

4

4,800

-

Cash at bank and in hand

293,903

100

298,703

100

CREDITORS

Amounts falling due within one year

5

60,620

-

NET CURRENT ASSETS

238,083

100

TOTAL ASSETS LESS CURRENT LIABILITIES

238,083

100

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

237,983

-

SHAREHOLDERS' FUNDS

238,083

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 31 March 2022 and were signed on its behalf by:

Mr D J Suckling FCA - Director

1.	STATUTORY INFORMATION

Kynance Business Consulting 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.

Turnover

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

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 1 (2020 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

4,800

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Tax

59,400

-

VAT

800

-

Directors' current accounts

420

-

60,620

-

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

Profit for the year

253,230

Dividends

(15,247

)

At 30 June 2021

237,983

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £15,247 were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D J Suckling FCA.

10.	GOING CONCERN

In early March 2020, the Covid-19 virus was declared a global pandemic. Business continuity, including supply chains and consumer demand across a number of industries and countries could be severely impacted for months or more, as governments and their citizens take significant and unprecedented measures to mitigate the consequences of the pandemic.

The directors monitor the ever-changing situation and continues to evaluate the company's ability to trade on an ongoing and foreseeable basis.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.