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REGISTERED NUMBER:
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FORTY4CONSULTING LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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REGISTERED NUMBER:
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FORTY4CONSULTING LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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FORTY4CONSULTING LIMITED (REGISTERED NUMBER: 06645271) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FORTY4CONSULTING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Watergate House |
85 Watergate Street |
Chester |
Cheshire |
CH1 2LF |
FORTY4CONSULTING LIMITED (REGISTERED NUMBER: 06645271) |
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BALANCE SHEET |
30 SEPTEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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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 director acknowledges his responsibilities for: |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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FORTY4CONSULTING LIMITED (REGISTERED NUMBER: 06645271) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Forty4Consulting Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents sales of services provided during the period, excluding value added tax, |
except in respect of service contracts where turnover is recognised when the company obtains the |
right to consideration. |
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Tangible fixed assets |
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Furniture & Fittings - 15% reducing balance |
Plant and machinery - 20% reducing balance |
Computer equipment - 33% straight line |
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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. |
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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 balance sheet 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 balance sheet 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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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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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FORTY4CONSULTING LIMITED (REGISTERED NUMBER: 06645271) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 October 2016 |
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Additions |
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Disposals | ( |
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At 30 September 2017 |
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DEPRECIATION |
At 1 October 2016 |
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Charge for year |
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At 30 September 2017 |
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NET BOOK VALUE |
At 30 September 2017 |
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At 30 September 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended |
30 September 2017 and 30 September 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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FORTY4CONSULTING LIMITED (REGISTERED NUMBER: 06645271) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2017 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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8. | RELATED PARTY DISCLOSURES |
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Included within other creditors is an amount of £129 owed to the director Mr P O'Loughlin (2016: |
included in debtors is an amount of £10,867 owed to the company from the director Mr P |
O'Loughlin and an amount of £11,799 owed to the company from the director Mr P Welsh). No |
interest is charged on these loan balances. The amounts are unsecured and are repayable upon |
demand. |
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During the year dividends of £36,464 were paid to Mr P Welsh and members of his close family. Mr |
P Welsh resigned as a director during the year. During the year dividends of £33,558 were paid to |
the director Mr P O'Loughlin and members of his close family (In 2016 dividends of £38,068 were |
paid to each of the directors, Mr P O'Loughlin and Mr P Welsh and members of their close families). |
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9. | ULTIMATE CONTROLLING PARTY |
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At the balance sheet date the company was under the control of the director Mr P O'Loughlin and |
members of his immediate family by virtue of them owning 100% of the issued share capital. |