The Class A Consultancy Limited - Period Ending 2023-04-30
The Class A Consultancy Limited - Period Ending 2023-04-30
Registration number:
The Class A Consultancy Limited
for the Year Ended 30 April 2023
The Class A Consultancy Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Class A Consultancy Limited
(Registration number: 04727819)
Balance Sheet as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
(53,471) |
(52,177) |
|
Shareholders' deficit |
(53,469) |
(52,175) |
For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal place of business is:
The Class A Consultancy Limited
41 Everton Road
Potton
Beds
SG19 2PB
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company had net current assets of £50,251 (2022: £49,083) and retained losses of £53,471 (2022: £52,177). The director has pledged to continue to financially support the company for the forseeable future. On this basis, the director feels it is appopriate to prepare these financial statements on a going concern basis.
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Judgements
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. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.
A grant that becomes 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 shall be recognised in income in the period in which it becomes receivable.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Asset class |
Depreciation method and rate |
Plant and machinery |
15% straight line |
Furniture, fittings and equipment |
15% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price and reviewed for recoverability. Amounts not considered recoverable are written off to the profit and loss account in the relevant period.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If
payment is deferred and the time value of money is material, the initial measurement is on a present
value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 May 2022 |
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Additions |
- |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
- |
Prepayments |
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- |
Other debtors |
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- |
|
- |
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Directors Loan |
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Other borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Other borrowings |
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The company acquired a loan in the prior year under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of
State for Business, Energy and Industrial Strategy.
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
The Class A Consultancy Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Related party transactions |
Transactions with the director |
2023 |
At 1 May 2022 |
Advances to director |
Repayments by director |
At 30 April 2023 |
J Blagg |
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Director's loan |
( |
|
( |
( |
2022 |
At 1 May 2021 |
Advances to director |
Repayments by director |
At 30 April 2022 |
J Blagg |
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Director's loan |
( |
|
( |
( |
There are no terms relating to the repayment of capital and no interest has been charged in the year.
Controlling party |
The ultimate controlling party is