Consulting Surge Limited Filleted accounts for Companies House (small and micro)

CONSULTING SURGE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08712628

Consulting Surge Limited

Filleted Unaudited Financial Statements

31 October 2022

Consulting Surge Limited

Statement of Financial Position

31 October 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		28,116	29,570

Current assets

Debtors	6	10,598	64,908
Investments	7	85,000	85,000
Cash at bank and in hand		3,387	14,565
		--------	---------
		98,985	164,473

Creditors: amounts falling due within one year	8	124,877		140,929
		---------		---------
Net current (liabilities)/assets			( 25,892)	23,544
			--------	--------
Total assets less current liabilities			2,224	53,114

Creditors: amounts falling due after more than one year	9	36,121	47,194
		--------	--------
Net (liabilities)/assets		( 33,897)	5,920
		--------	--------

Capital and reserves

Called up share capital	600	600
Profit and loss account	( 34,497)	5,320
	--------	-------
Shareholders (deficit)/funds	( 33,897)	5,920
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Consulting Surge Limited

Statement of Financial Position (continued)

31 October 2022

These financial statements were approved by the board of directors and authorised for issue on 29 July 2023 , and are signed on behalf of the board by:

Dr Aziz Anjum
Director

Company registration number: 08712628

Consulting Surge Limited

Notes to the Financial Statements

Year ended 31 October 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 London Road, Morden, Surrey, SM5 4EH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fitting	-	15% reducing balance
Motor vehicles	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 November 2021 and 31 October 2022	19,878	4,194	27,083	51,155
	--------	-------	--------	--------
Depreciation
At 1 November 2021	–	3,155	18,430	21,585
Charge for the year	–	156	1,298	1,454
	--------	-------	--------	--------
At 31 October 2022	–	3,311	19,728	23,039
	--------	-------	--------	--------
Carrying amount
At 31 October 2022	19,878	883	7,355	28,116
	--------	-------	--------	--------
At 31 October 2021	19,878	1,039	8,653	29,570
	--------	-------	--------	--------

6. Debtors

	2022	2021
	£	£
Trade debtors	27,375	58,300
Other debtors	( 16,777)	6,608
	--------	--------
	10,598	64,908
	--------	--------

7. Investments

	2022	2021
	£	£
Other investments	85,000	85,000
	--------	--------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	24,290	39,290
Social security and other taxes	20,543	21,606
Other creditors	80,044	80,033
	---------	---------
	124,877	140,929
	---------	---------

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Other creditors	36,121	47,194
	--------	--------

10. Director's advances, credits and guarantees

11. Related party transactions

The company was under the control of Dr Aziz Anjum throughout the current and previous year. Dr Aziz Anum and Mr Nasir Shabbir together with their family own 100% issued share capital of the company. Included in the other debtors is £22,618 (2021 - £11,428) owed to Accounting Solution (London) Ltd. Mrs Mehwish Shabbir is the director and majority shareholder of Accounting Solution (London) Ltd.