Winning Edges Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08345940 (England and Wales)

WINNING EDGES CONSULTANCY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

4

FIXED ASSETS

Tangible assets

4

1,769

1,164

CURRENT ASSETS

Debtors

5

38,446

32,650

Cash at bank

14,320

26,048

52,766

58,698

CREDITORS

Amounts falling due within one year

6

28,414

33,664

NET CURRENT ASSETS

24,352

25,034

TOTAL ASSETS LESS CURRENT LIABILITIES

26,121

26,198

CREDITORS

Amounts falling due after more than one year

7

21,181

22,917

NET ASSETS

4,940

3,281

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

4,840

3,181

SHAREHOLDERS' FUNDS

4,940

3,281

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 1st April 2022 and were signed on its behalf by:

G H Percy - Director

1.	STATUTORY INFORMATION

Winning Edges Consultancy Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

When the outcome of a transaction can be estimated reliably, turnover from consultancy work is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the completion of the consultancy work.

When the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets

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

Plant and machinery etc - 25% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 1st January 2021

3,534

Additions

1,126

At 31st December 2021

4,660

DEPRECIATION

At 1st January 2021

2,370

Charge for year

521

At 31st December 2021

2,891

NET BOOK VALUE

At 31st December 2021

1,769

At 31st December 2020

1,164

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

12,187

-

Amounts owed by group undertakings

22,549

32,650

Other debtors

3,710

-

38,446

32,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

22,833

28,938

Other creditors

5,581

4,726

28,414

33,664

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

21,181

22,917

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

4,514

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

5,689

-

Between one and five years

11,378

-

17,067

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

A Ordinary

£1

100

100