REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2022 |
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Corporate Solutions Consulting |
Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Corporate Solutions Consulting |
Limited |
Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Corporate Solutions Consulting |
Limited |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
28 Church Road |
Stanmore |
Middlesex |
HA7 4XR |
Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Statement of Financial Position |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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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 |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Statement of Financial Position - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Corporate Solutions Consulting Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention, modified to include investments at fair value. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Income is recognised when the service has been provided. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Leases |
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. |
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Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term. |
Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Fixed asset investments |
Interests in listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to the profit and loss account as incurred. Changes in fair value are recognised in the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
Additions |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2021 |
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Revaluations | (5,288 | ) |
At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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6. | INVESTMENT PROPERTY - continued |
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Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2016 | 50,506 |
Valuation in 2019 | 65,707 |
Valuation in 2020 | (32,253 | ) |
Valuation in 2021 | (24,121 | ) |
Valuation in 2022 | (5,288 | ) |
Cost | 543,778 |
598,329 |
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Investment property was valued on an open market basis basis on 31 March 2022 by the directors . |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 40,733 | 80,173 |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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Corporate Solutions Consulting |
Limited (Registered number: 03010942) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank loans | 220,847 | 250,000 |
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The company took out a Coronavirus Business Interruption Loan of £250,000 in 2020 with Barclays Bank Plc. The loan is repayable over a term of six years at a fixed interest rate of 2.5% and secured over all of the property of the entity. |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Included in other debtors at the year end is an amount of £23,063 (2021: £183 creditor) due from the director, K Adhami. Interest of £178 (2021: £196) was charged on the overdrawn balance at a rate of 2.00% (2021: 2.25%). |
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There have been no advances which individually were considered material and no advances exceeding £10,000 to the director, K Adhami. |
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Included in other debtors at the year end is an amount of £30,571 (2021: £33,331 creditor) due from the director, E Adhami. Interest of £104 (2021: £nil) was charged on the overdrawn balance at a rate of 2.00% (2021: 2.25%). |
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The following advances have taken place during the year and are deemed material; |
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September 2021 £42,390 |
February 2022 £22,800 |
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There have been no other advances which individually were considered material and no other advances exceeding £10,000 to the director, E Adhami. |
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The overdrawn loan accounts were repaid within nine months of year end. |