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Registered number: 06043212
SSAP CONSULTING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
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SSAP CONSULTING LIMITED
REGISTERED NUMBER: 06043212
STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2018
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 1
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SSAP CONSULTING LIMITED
REGISTERED NUMBER: 06043212
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2018
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 on 30 October 2018.
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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SSAP CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
SSAP Consulting Limited is a private company limited by shares and incorporated in England & Wales. The address of the registered office is 65 Wood Vale, London, SE23 3DT.
2.Accounting policies
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Basis of preparation of financial statements
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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:
Revenue comprises fees in respect of consultancy services during the year and is recognised in the statement of income and retained earnings in the period it is contractually due.
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, using the straight-line method.
Depreciation is provided on the following basis:
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Furniture, fittings and equipment
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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.
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Page 3
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SSAP CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
2.Accounting policies (continued)
The Company only enters into basic financial instruments 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 and loans to related parties.
Short term creditors are measured at the transaction price.
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.
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 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 income.
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The average monthly number of employees, including directors, during the year was 2 (2017 - 2).
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Page 4
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SSAP CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
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Furniture, fittings and equipment
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Charge for the year on owned assets
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 5
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SSAP CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
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Related party transactions
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Included in other debtors is a loan of £55,000 (2017: £55,000) to Southside Hallam Properties Limited a company in which S Scott is also a director. The loan is not interest bearing.
During the year, consultancy fees of £nil (2017: £15,000) were due from Magnus Invention Management Limited, a company in which S Scott is also a director.
During the year, consultancy fees of £nil (2017: £20,000) were due from Virtual1 Limited, a company in which S Scott is also a director.
During the year, the company received consultancy fees of £246,296 (2017 : £nil) from Subsea Cable Consulting Limited, a company with common directors.
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Throughout the year the company was under the control of the directors.
Page 6
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