Shoreline Business Consulting Ltd 31/05/2023 iXBRL

Shoreline Business Consulting Ltd 31/05/2023 iXBRL

SHORELINE BUSINESS CONSULTING LTD - Company Information

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3 31/05/2023 2023-05-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10769857 2022-06-01 2023-05-31 10769857 2023-05-31 10769857 2021-06-01 2022-05-31 10769857 2022-05-31 10769857 bus:Director1 2022-06-01 2023-05-31 10769857 core:WithinOneYear 2023-05-31 10769857 core:WithinOneYear 2022-05-31 10769857 core:ShareCapital 2023-05-31 10769857 core:ShareCapital 2022-05-31 10769857 core:RetainedEarningsAccumulatedLosses 2023-05-31 10769857 core:RetainedEarningsAccumulatedLosses 2022-05-31 10769857 bus:Director1 2021-05-31 10769857 bus:Director1 2021-06-01 2022-05-31 10769857 bus:SmallEntities 2022-06-01 2023-05-31 10769857 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10769857 bus:FullAccounts 2022-06-01 2023-05-31 10769857 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10769857 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
Company registration number: 10769857
Shoreline Business Consulting Ltd
Unaudited filleted financial statements
31 May 2023
SHORELINE BUSINESS CONSULTING LTD
STATEMENT OF FINANCIAL POSITION
31 MAY 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 5 23,722 8,598
Cash at bank and in hand 49,465 86,229
_______ _______
73,187 94,827
Creditors: amounts falling due
within one year 6 ( 8,409) ( 16,402)
_______ _______
Net current assets 64,778 78,425
_______ _______
Total assets less current liabilities 64,778 78,425
_______ _______
Net assets 64,778 78,425
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 7 64,678 78,325
_______ _______
Shareholders funds 64,778 78,425
_______ _______
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 October 2023 , and are signed on behalf of the board by:
D Chieng
Director
Company registration number: 10769857
SHORELINE BUSINESS CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 47 Boutport Street, Barnstaple, Devon, EX31 1SQ.
Principal activity
The principal activity of the company is that of the provision of business advisory services.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
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 in finance costs 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 3 (2022: 3 ).
5. Debtors
2023 2022
£ £
Trade debtors 23,160 8,598
Other debtors 562 -
_______ _______
23,722 8,598
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Accruals and deferred income 820 760
Social security and other taxes 7,589 15,642
_______ _______
8,409 16,402
_______ _______
7. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Directors - - -
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Directors 2,381 ( 2,381) -
_______ _______ _______