Counting King Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12760789 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2021 TO 31 DECEMBER 2022

FOR

COUNTING KING LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

6

DIRECTORS:

Mr G D Hilton

Mr S P Dallow

Mr J C M Van Beusekom

Mr R Yeung

REGISTERED OFFICE:

Magnetic House

Waterfront Quay

Salford

M50 3XW

BUSINESS ADDRESS:

Union

Albert Square

Manchester

M2 6LW

REGISTERED NUMBER:

12760789 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

The directors present their report with the financial statements of the company for the period 1 August 2021 to 31 December 2022.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of tax consultancy.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 August 2021 to the date of this report.

Mr G D Hilton

Mr S P Dallow

Other changes in directors holding office are as follows:

Mr J C M Van Beusekom - appointed 17 November 2022

Mr R Yeung - appointed 17 November 2022

POLITICAL DONATIONS AND EXPENDITURE

During the period the company made donations totalling £3,100 (2021 - £nil).

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr S P Dallow - Director

12 April 2023

FIXED ASSETS

Tangible assets

4

17,406

11,011

CURRENT ASSETS

Debtors

5

462,450

36,206

Cash at bank

51,142

17,822

513,592

54,028

CREDITORS

Amounts falling due within one year

6

(444,380

)

(62,514

)

NET CURRENT ASSETS/(LIABILITIES)

69,212

(8,486

)

TOTAL ASSETS LESS CURRENT LIABILITIES

86,618

2,525

PROVISIONS FOR LIABILITIES

(3,307

)

(2,092

)

NET ASSETS

83,311

433

CAPITAL AND RESERVES

Called up share capital

17

2

Retained earnings

83,294

431

SHAREHOLDERS' FUNDS

83,311

433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2023 and were signed on its behalf by:

Mr S P Dallow - Director

1.	STATUTORY INFORMATION

Counting King 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.

Tangible fixed assets

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

Computer equipment - 33% on cost

Fixtures and fittings - 25% on reducing balance

Taxation

Taxation for the period 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 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2021

2,258

10,158

12,416

Additions

7,390

7,782

15,172

At 31 December 2022

9,648

17,940

27,588

DEPRECIATION

At 1 August 2021

166

1,239

1,405

Charge for period

2,772

6,005

8,777

At 31 December 2022

2,938

7,244

10,182

NET BOOK VALUE

At 31 December 2022

6,710

10,696

17,406

At 31 July 2021

2,092

8,919

11,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.7.21

£

£

Trade debtors

460,283

4,710

Other debtors

2,167

31,496

462,450

36,206

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.7.21

£

£

Bank loans and overdrafts

108,615

-

Trade creditors

-

2

Taxation and social security

332,553

60,862

Other creditors

3,212

1,650

444,380

62,514