Company Registration No. 10882663 (England and Wales)
SOUTH DEVON ACCOUNTING LTD
Unaudited accounts
for the year ended 31 December 2023
SOUTH DEVON ACCOUNTING LTD
Unaudited accounts
Contents
SOUTH DEVON ACCOUNTING LTD
Company Information
for the year ended 31 December 2023
Directors
Mrs Catherine Flannery
Mr Peter Flannery
Company Number
10882663 (England and Wales)
Registered Office
6 ORCHARD CLOSE
OGWELL NEWTON ABBOT
DEVON
TQ12 6AL
UK
Accountants
Mrs Catherine Flannery, FMAAT, FCCA, BSc (Hons)
South Devon Accounting Ltd
6 Orchard Close
Ogwell
Newton Abbot
TQ12 6AL
SOUTH DEVON ACCOUNTING LTD
Statement of financial position
as at 31 December 2023
Intangible assets
12,000
14,400
Tangible assets
50,571
34,272
Cash at bank and in hand
2,306
5,977
Creditors: amounts falling due within one year
(43,621)
(33,192)
Net current liabilities
(27,010)
(15,469)
Total assets less current liabilities
35,561
33,203
Creditors: amounts falling due after more than one year
(43,317)
(36,784)
Provisions for liabilities
Deferred tax
(9,609)
(6,512)
Net liabilities
(17,365)
(10,093)
Called up share capital
2
2
Profit and loss account
(17,367)
(10,095)
Shareholders' funds
(17,365)
(10,093)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by
Mr Peter Flannery
Director
Company Registration No. 10882663
SOUTH DEVON ACCOUNTING LTD
Notes to the Accounts
for the year ended 31 December 2023
SOUTH DEVON ACCOUNTING LTD is a private company, limited by shares, registered in England and Wales, registration number 10882663. The registered office is 6 ORCHARD CLOSE, OGWELL NEWTON ABBOT, DEVON, TQ12 6AL, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Fixtures & fittings
25% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
SOUTH DEVON ACCOUNTING LTD
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
At 31 December 2023
24,000
At 31 December 2023
12,000
At 31 December 2023
12,000
At 31 December 2022
14,400
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
659
42,999
-
4,152
47,810
Additions
-
31,740
1,002
415
33,157
At 31 December 2023
659
74,739
1,002
4,567
80,967
At 1 January 2023
165
10,750
-
2,623
13,538
Charge for the year
124
15,997
251
486
16,858
At 31 December 2023
289
26,747
251
3,109
30,396
At 31 December 2023
370
47,992
751
1,458
50,571
At 31 December 2022
494
32,249
-
1,529
34,272
Amounts falling due within one year
Trade debtors
14,305
11,746
SOUTH DEVON ACCOUNTING LTD
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,600
5,600
Obligations under finance leases and hire purchase contracts
11,200
6,200
Taxes and social security
14,229
8,984
Other creditors
4,399
5,945
Loans from directors
(11,765)
(13,672)
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
35,383
23,250
9
Average number of employees
During the year the average number of employees was 4 (2022: 2).