Monalisa Consulting Ltd. - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC400670 (Scotland)

Monalisa Consulting Ltd.

Financial Statements For The Year Ended 31 May 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Herbert

Mr R Herbert

REGISTERED OFFICE:

1 March Street

Portgordon

Moray

AB56 5QQ

REGISTERED NUMBER:

SC400670 (Scotland)

ACCOUNTANTS:

Cathedral Accountancy

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Royal Bank of Scotland

209 High Street

Elgin

Moray

IV30 1DL

FIXED ASSETS

Tangible assets

4

5,060

6,481

CURRENT ASSETS

Debtors

5

10,681

10,557

Cash at bank

25,239

28,935

35,920

39,492

CREDITORS

Amounts falling due within one year

6

11,131

13,799

NET CURRENT ASSETS

24,789

25,693

TOTAL ASSETS LESS CURRENT LIABILITIES

29,849

32,174

PROVISIONS FOR LIABILITIES

7

961

1,231

NET ASSETS

28,888

30,943

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

28,886

30,941

SHAREHOLDERS' FUNDS

28,888

30,943

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:

Mrs M Herbert - Director

1.	STATUTORY INFORMATION

Monalisa Consulting Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Equipment

-

33% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1 June 2022

16,279

Additions

3,809

Disposals

(5,907

)

At 31 May 2023

14,181

DEPRECIATION

At 1 June 2022

9,798

Charge for year

3,700

Eliminated on disposal

(4,377

)

At 31 May 2023

9,121

NET BOOK VALUE

At 31 May 2023

5,060

At 31 May 2022

6,481

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

10,681

10,312

Other debtors

-

245

10,681

10,557

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Taxation and social security

7,312

11,559

Other creditors

3,819

2,240

11,131

13,799

7.	PROVISIONS FOR LIABILITIES

31.5.23

31.5.22

£

£

Deferred tax

961

1,231

Deferred

tax

£

Balance at 1 June 2022

1,231

Provided during year

(270

)

Balance at 31 May 2023

961

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.23

31.5.22

value:

£

£

1

Ordinary

1

1

1

1

A ordinary

1

1

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 June 2022

30,941

Profit for the year

30,945

Dividends

(33,000

)

At 31 May 2023

28,886

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £33,000 (2022 - £36,000) were paid to the directors .

At 31 May 2022 the company owed the directors £417. During the year company paid expenses on behalf of the directors totalling £330. At 31 May 2023 the company owed the directors £87. This loan is interest free and has no fixed terms of repayment.