Company Registration No. 02571665 (England and Wales)
PROTEUS CONSULTANCY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2019
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
PROTEUS CONSULTANCY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PROTEUS CONSULTANCY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Cash at bank and in hand
31
31
Creditors: amounts falling due within one year
5
(34,153)
(36,865)
Net current liabilities
(34,122)
(36,834)
Creditors: amounts falling due after more than one year
6
(1,431)
(2,736)
Net liabilities
(35,553)
(39,570)
Capital and reserves
Called up share capital
5,422
5,422
Profit and loss reserves
(40,975)
(44,992)
Total equity
(35,553)
(39,570)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 December 2020 and are signed on its behalf by:
Dr M R Warren
Director
Company Registration No. 02571665
PROTEUS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Proteus Consultancy Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
17 Egdon Glen, Crossways, Dorchester, DT2 8BQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The directors consider this to be appropriate as included within net current liabilities of £34,122 are amounts due to the directors totalling £21,156 which will not be repaid until the company is in a position to do so. Accordingly the going concern basis is considered to be appropriate.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
PROTEUS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2019 and 31 December 2019
10,000
Amortisation and impairment
At 1 January 2019 and 31 December 2019
10,000
Carrying amount
At 31 December 2019
-
At 31 December 2018
-
PROTEUS CONSULTANCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 4 -
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2019 and 31 December 2019
11,988
Depreciation and impairment
At 1 January 2019 and 31 December 2019
11,988
Carrying amount
At 31 December 2019
-
At 31 December 2018
-
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
1,397
3,066
Taxation and social security
1,890
2,782
Other creditors
30,866
31,017
34,153
36,865
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
1,431
2,736