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REGISTERED NUMBER: 05938956 (England and Wales)















Unaudited Financial Statements

for the Period 1 November 2022 to 31 March 2023

for

Asquith & Co Accountants Limited

Asquith & Co Accountants Limited (Registered number: 05938956)






Contents of the Financial Statements
for the Period 1 November 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Asquith & Co Accountants Limited

Company Information
for the Period 1 November 2022 to 31 March 2023







DIRECTORS: Mr C D Mattinson FCCA
Mr D I Bulman FCCA
Miss J A Springham BSc FCCA





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 05938956 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Asquith & Co Accountants Limited (Registered number: 05938956)

Balance Sheet
31 March 2023

31.3.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 55,000 59,583
Tangible assets 5 377,750 375,174
Investments 6 81,952 81,952
514,702 516,709

CURRENT ASSETS
Stocks 201,468 120,000
Debtors 7 277,464 246,608
Cash at bank and in hand 206,399 177,940
685,331 544,548
CREDITORS
Amounts falling due within one year 8 437,384 363,368
NET CURRENT ASSETS 247,947 181,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,649

697,889

CREDITORS
Amounts falling due after more than one
year

9

(266,702

)

(297,079

)

PROVISIONS FOR LIABILITIES (21,742 ) (24,035 )
NET ASSETS 474,205 376,775

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 474,085 376,655
SHAREHOLDERS' FUNDS 474,205 376,775

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

Asquith & Co Accountants Limited (Registered number: 05938956)

Balance Sheet - continued
31 March 2023


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 17 November 2023 and were signed on its behalf by:




Mr D I Bulman FCCA - Director



Mr C D Mattinson FCCA - Director


Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements
for the Period 1 November 2022 to 31 March 2023

1. STATUTORY INFORMATION

Asquith & Co Accountants Limited is a private company, limited by shares , registered in England and Wales. 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 represents professional fees invoiced during the year, excluding value added tax, except in respect of service contracts where turnover is recognised when the right to consideration is earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks & work in progress
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Work in progress is valued at the recoverable amount.

Taxation
Taxation for the period 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 period end and that are expected to apply to the reversal of the timing difference.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 23 (2022 - 23 ) .

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 March 2023 363,890
AMORTISATION
At 1 November 2022 304,307
Charge for period 4,583
At 31 March 2023 308,890
NET BOOK VALUE
At 31 March 2023 55,000
At 31 October 2022 59,583

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 321,921 236,774 558,695
Additions - 11,897 11,897
At 31 March 2023 321,921 248,671 570,592
DEPRECIATION
At 1 November 2022 41,047 142,474 183,521
Charge for period 2,683 6,638 9,321
At 31 March 2023 43,730 149,112 192,842
NET BOOK VALUE
At 31 March 2023 278,191 99,559 377,750
At 31 October 2022 280,874 94,300 375,174

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 March 2023 81,952
NET BOOK VALUE
At 31 March 2023 81,952
At 31 October 2022 81,952

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.10.22
£    £   
Trade debtors 212,787 207,400
Other debtors 64,677 39,208
277,464 246,608

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.10.22
£    £   
Bank loans and overdrafts 75,769 75,874
Trade creditors 24,105 11,488
Amounts owed to group undertakings - 4,971
Taxation and social security 238,236 205,965
Other creditors 99,274 65,070
437,384 363,368

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.10.22
£    £   
Bank loans 266,702 297,079

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 102,256 106,087

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.10.22
£    £   
Within one year 14,255 18,406
Between one and five years 30,281 31,021
In more than five years 30,600 33,600
75,136 83,027

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 March 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2023 and the year ended 31 October 2022:

31.3.23 31.10.22
£    £   
Miss J A Springham BSc FCCA
Balance outstanding at start of period - -
Amounts advanced 5,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,000 -

Mr D I Bulman FCCA
Balance outstanding at start of period - -
Amounts advanced 5,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,000 -

Mr C D Mattinson FCCA
Balance outstanding at start of period - -
Amounts advanced 5,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 5,000 -