ACCOUNTS - Final Accounts preparation

PEWLEY CONSULTING LIMITED - Company Information

Company registration number: 10368104

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 30 SEPTEMBER 2019

	PEWLEY CONSULTING LIMITED


PEWLEY CONSULTING LIMITED

COMPANY INFORMATION

Directors	C C Swaine
	S E Swaine


Registered number	10368104


Registered office	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


Accountants	Menzies LLP
	Chartered Accountants
	Victoria House
	50-58 Victoria Road
	Farnborough
	Hampshire
	GU14 7PG


PEWLEY CONSULTING LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 5


PEWLEY CONSULTING LIMITED REGISTERED NUMBER:10368104

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	4		262		595
			262		595
Current assets
Debtors: amounts falling due within one year	5	69		8,000
Cash at bank and in hand		119,248		122,365
		119,317		130,365
Creditors: amounts falling due within one year	6	(7,512)		(14,367)
Net current assets			111,805		115,998
Total assets less current liabilities			112,067		116,593
Provisions for liabilities
Deferred tax		(22)		(22)
			(22)		(22)
Net assets			112,045		116,571

Capital and reserves
Allotted, called up and fully paid share capital	100	100
Profit and loss account	111,945	116,471
	112,045	116,571

Page 1


PEWLEY CONSULTING LIMITED REGISTERED NUMBER:10368104

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2019

The directors consider 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 Companies Act 2006.

The directors acknowledge their 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:

................................................

C C Swaine

Director

Date: 15 March 2020

The notes on pages 3 to 5 form part of these financial statements.

Page 2


PEWLEY CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

1.	General information

Pewley Consulting Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The company does not have a principal place of business.

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

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added tax and trade discounts.

2.3

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 the following basis:.

Depreciation is provided on the following basis:

Computer equipment

33%

Straight line

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 the Statement of income and retained earnings.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the Profit and Loss Account.

Page 3


PEWLEY CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, 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.

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 October 2018	1,010
	At 30 September 2019	1,010
	Depreciation
	At 1 October 2018	415
	Charge for the year on owned assets	333
	At 30 September 2019	748
	Net book value
	At 30 September 2019	262

Page 4


PEWLEY CONSULTING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019

Debtors

					2019	2018
					£	£


Trade debtors	-	7,931
Prepayments and accrued income	69	69
	69	8,000

6.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Corporation tax	4,646	10,207
Other taxation and social security	285	1,225
Other creditors	481	835
Accruals and deferred income	2,100	2,100
	7,512	14,367

Within other creditors is a balance due to the director of £481 (2018: £835) payable on demand.

Page 5