ACCOUNTS - Final Accounts preparation

GRAHAM SMITH CONSULTING LIMITED - Company Information

Registered number: 10213959

Graham Smith Consulting Limited

Financial statements

for the year ended 30 June 2021


Graham Smith Consulting Limited

Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Graham Smith Consulting Limited
for the year ended 30 June 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham Smith Consulting Limited for the year ended 30 June 2021 which comprise the profit and loss account, the balance sheet, the 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 at https://www.icaew.com/regulation.

This report is made solely to the director of Graham Smith Consulting Limited in accordance with the terms of our engagement letter dated 14 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Graham Smith Consulting Limited and state those matters that we have agreed to state to the director of Graham Smith Consulting Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graham Smith Consulting Limited and its director for our work or for this report.

It is your duty to ensure that Graham Smith Consulting 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 Graham Smith Consulting Limited. You consider that Graham Smith Consulting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Graham Smith Consulting 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.

Chavereys

Faversham

28 March 2022

Page 1


Graham Smith Consulting Limited Registered number:10213959

Balance sheet

as at 30 June 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	68,242		44,422
Bank and cash balances		8,174		49,685
		76,416		94,107
Creditors: amounts falling due within one year	5	(31,051)		(54,030)
Net current assets			45,365		40,077
Total assets less current liabilities			45,365		40,077

Net assets			45,365		40,077

Capital and reserves
Called up share capital	100	100
Profit and loss account	45,265	39,977
	45,365	40,077

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements 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 profit and loss account 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:

GCH Smith

Director

Date: 28 March 2022

The notes on pages 4 to 5 form part of these financial statements.

Page 2


Graham Smith Consulting Limited

Statement of changes in equity

for the year ended 30 June 2021

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 July 2019	100	40,585	40,685
Comprehensive income for the year
Profit for the year	-	39,392	39,392
Dividends: Equity capital	-	(40,000)	(40,000)

At 1 July 2020	100	39,977	40,077

Profit for the year	-	54,288	54,288
Dividends: Equity capital	-	(49,000)	(49,000)
At 30 June 2021	100	45,265	45,365

The notes on pages 4 to 5 form part of these financial statements.

Page 3


Graham Smith Consulting Limited

Notes to the financial statements

for the year ended 30 June 2021

1.	General information

Graham Smith Consulting Limited is a private company, limited by shares and incorporated in England and Wales.
The company number, address of the registered office and trading address are given on the company information page.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pound sterling and all values are rounded to the nearest pound (£) except where otherwise indicated.

2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Interest income

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

2.4

Taxation

Tax is recognised in profit or loss 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.

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.

2.5

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 4


Graham Smith Consulting Limited

Notes to the financial statements

for the year ended 30 June 2021

Debtors

					2021	2020
					£	£


Trade debtors	48,344	29,748
Prepayments and accrued income	19,898	14,674
	68,242	44,422

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Corporation tax	12,770	9,155
Other taxation and social security	3,627	6,928
Other creditors	7,524	34,797
Accruals and deferred income	7,130	3,150
	31,051	54,030

Page 5