Registered number
03978820
Expert Advice Limited
Filleted Accounts
31 December 2023
Expert Advice Limited
Registered number: 03978820
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 3,840 18,000
Cash at bank and in hand 60,153 136,629
63,993 154,629
Creditors: amounts falling due within one year 5 (63,879) (73,400)
Net current assets 114 81,229
Net assets 114 81,229
Capital and reserves
Called up share capital 2 2
Profit and loss account 112 81,227
Shareholders' funds 114 81,229
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Duncan
Director
Approved by the board on 12 February 2024
Expert Advice Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 10,000
At 31 December 2023 10,000
Amortisation
At 1 January 2023 10,000
At 31 December 2023 10,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2023 2022
£ £
Trade debtors 3,840 18,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax (2,783) 12,043
Directors' loan account 61,354 55,529
Taxation and social security costs - -
Other creditors 5,308 5,828
63,879 73,400
6 Other information
Expert Advice Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
124 High Street
Hampton Hill
Middlesex
TW12QD
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