ACCOUNTS - Final Accounts preparation

MARSHAM STREET CONSULTANTS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3112022-04-01falseCONSULTANCY1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11893230 2022-04-01 2023-03-31 11893230 2021-04-01 2022-03-31 11893230 2023-03-31 11893230 2022-03-31 11893230 c:Director1 2022-04-01 2023-03-31 11893230 d:ComputerEquipment 2022-04-01 2023-03-31 11893230 d:ComputerEquipment 2023-03-31 11893230 d:ComputerEquipment 2022-03-31 11893230 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11893230 d:CurrentFinancialInstruments 2023-03-31 11893230 d:CurrentFinancialInstruments 2022-03-31 11893230 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11893230 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11893230 d:ShareCapital 2023-03-31 11893230 d:ShareCapital 2022-03-31 11893230 d:RetainedEarningsAccumulatedLosses 2023-03-31 11893230 d:RetainedEarningsAccumulatedLosses 2022-03-31 11893230 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11893230 c:OrdinaryShareClass1 2023-03-31 11893230 c:OrdinaryShareClass1 2022-03-31 11893230 c:FRS102 2022-04-01 2023-03-31 11893230 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11893230 c:FullAccounts 2022-04-01 2023-03-31 11893230 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11893230

MARSHAM STREET CONSULTANTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

REGISTERED NUMBER:11893230

MARSHAM STREET CONSULTANTS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023


	2023	2022
Note	£	£

Fixed assets
Tangible assets	4		1,719		460
			1,719		460
Current assets
Debtors: amounts falling due within one year	5	191,102		36,700
Cash at bank and in hand		74,353		58,613
		265,455		95,313
Creditors: amounts falling due within one year	6	(114,727)		(51,690)
Net current assets			150,728		43,623
Total assets less current liabilities			152,447		44,083

Net assets			152,447		44,083

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		152,347	43,983
Total equity		152,447	44,083

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REGISTERED NUMBER:11893230

MARSHAM STREET CONSULTANTS LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

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 her 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 statement of income and retained earnings 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:

F M Hill

Director

Date: 14 November 2023

The notes on pages 3 to 8 form part of these financial statements.

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

FMH Strategy Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£). Monetary amounts are rounded to the nearest whole number.

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 following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.5

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

The Company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Share Capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary share or options are shown in equity as a deduction, net of tax, from the proceeds.

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.8

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.

2.9

Taxation

The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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.

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 April 2022	613
	Additions	1,832
	At 31 March 2023	2,445
	Depreciation
	At 1 April 2022	153
	Charge for the year on owned assets	573
	At 31 March 2023	726
	Net book value
	At 31 March 2023	1,719
	At 31 March 2022	460

Debtors

					2023	2022
					£	£


Trade debtors	86,404	36,700
Other debtors	104,698	-
	191,102	36,700

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MARSHAM STREET CONSULTANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	3,710	116
Corporation tax	37,062	39,675
Other taxation and social security	15,702	8,815
Other creditors	54,953	84
Accruals and deferred income	3,300	3,000
	114,727	51,690

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

100 (2022 -100) Ordinary shares of £1.00 each	100	100

8.	Related party transactions
	Included within other creditors is an amount of £4,953 (2022: £84) owed to the director of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding the repayment of the loan.

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