Petley House Consulting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08701311 (England and Wales)

Financial Statements for the Year Ended 30 September 2019

for

PETLEY HOUSE CONSULTING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J Bromhead

Mrs TA Bromhead

SECRETARY:

REGISTERED OFFICE:

3rd Floor

3-5 Barrett Street

London

W1U 1AY

REGISTERED NUMBER:

08701311 (England and Wales)

ACCOUNTANTS:

Blomfields

The Courtyard

33 Duke Street

Trowbridge

Wiltshire

BA14 8EA

FIXED ASSETS

Property, plant and equipment

5

1,028

1,370

CURRENT ASSETS

Debtors

6

20,514

27,405

Cash at bank

56,004

34,219

76,518

61,624

CREDITORS

Amounts falling due within one year

7

30,004

34,771

NET CURRENT ASSETS

46,514

26,853

TOTAL ASSETS LESS CURRENT LIABILITIES

47,542

28,223

PROVISIONS FOR LIABILITIES

-

260

NET ASSETS

47,542

27,963

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

47,532

27,953

47,542

27,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2020 and were signed on its behalf by:

J Bromhead - Director

1.	STATUTORY INFORMATION

Petley House Consulting Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable to 30 September 2019 net of

VAT. The company recognises revenue from consultancy when:

- the amount of revenue can be reliably measured;

- it is probable that the future economic benefits will flow to the company;

- and specific criteria have been met for each of the companies activities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtor and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash

generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued

amount where the impairment loss is a revaluation decrease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees

are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 October 2018

and 30 September 2019

6,575

DEPRECIATION

At 1 October 2018

5,205

Charge for year

342

At 30 September 2019

5,547

NET BOOK VALUE

At 30 September 2019

1,028

At 30 September 2018

1,370

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

7,887

9,312

Other debtors

12,627

18,093

20,514

27,405

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

17,870

21,718

Other creditors

12,134

13,053

30,004

34,771