Registered number
06590369
Dr Alan Corrin Limited
Filleted Accounts
31 May 2023
Dr Alan Corrin Limited
Registered number: 06590369
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Current assets
Debtors 5 254,246 202,336
Cash at bank and in hand 2 9
254,248 202,345
Creditors: amounts falling due within one year 6 (233,945) (169,780)
Net current assets 20,303 32,565
Total assets less current liabilities 20,303 32,565
Creditors: amounts falling due after more than one year 7 (20,000) (30,000)
Net assets 303 2,565
Capital and reserves
Called up share capital 3 3
Profit and loss account 300 2,562
Shareholders' funds 303 2,565
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.
Dr A Corrin
Director
Approved by the board on 5 February 2024
Dr Alan Corrin Limited
Notes to the Accounts
for the year ended 31 May 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 30,000
At 31 May 2023 30,000
Amortisation
At 1 June 2022 30,000
At 31 May 2023 30,000
Net book value
At 31 May 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 6,743
At 31 May 2023 6,743
Depreciation
At 1 June 2022 6,743
At 31 May 2023 6,743
Net book value
At 31 May 2023 -
5 Debtors 2023 2022
£ £
Trade debtors 84,303 84,255
Other debtors 169,943 118,081
254,246 202,336
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 23,866 20,209
Trade creditors 2,253 2,247
Taxation and social security costs 206,206 145,704
Other creditors 1,620 1,620
233,945 169,780
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,000 30,000
8 Other information
Dr Alan Corrin Limited is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Rd
Wallasey
Merseyside
CH44 4BT
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