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Registered number: 4924239
Access Associates Limited
Financial Statements
For The Year Ended 30 September 2023
DJ Coulter & Associates Limited
Chartered Certified Accountants
7 Clarence Parade
Cheltenham
GL50 3NY
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Access Associates Limited for the year ended 30 September 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Access Associates Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Access Associates Limited , as a body, in accordance with the terms of our engagement letter dated 27 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of Access Associates Limited and state those matters that we have agreed to state to the directors of Access Associates Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Access Associates Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Access Associates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Access Associates Limited . You consider that Access Associates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Access Associates Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
8th April 2024
DJ Coulter & Associates Limited
Chartered Certified Accountants
7 Clarence Parade
Cheltenham
GL50 3NY
Page 1
Page 2
Balance Sheet
Registered number: 4924239
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 309,598 310,432
309,598 310,432
CURRENT ASSETS
Debtors 5 100,446 63,492
Cash at bank and in hand 37,786 85,237
138,232 148,729
Creditors: Amounts Falling Due Within One Year 6 (129,668 ) (163,110 )
NET CURRENT ASSETS (LIABILITIES) 8,564 (14,381 )
TOTAL ASSETS LESS CURRENT LIABILITIES 318,162 296,051
Creditors: Amounts Falling Due After More Than One Year 7 (57,484 ) (69,549 )
NET ASSETS 260,678 226,502
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 260,578 226,402
SHAREHOLDERS' FUNDS 260,678 226,502
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For the year ending 30 September 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Bronwen Thornton
Director
8th April 2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Access Associates Limited Registered number 4924239 is a limited by shares company incorporated in England & Wales. The Registered Office is 24 Moorend Road, Cheltenham, Gloucestershire, GL53 0HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold nil
Plant & Machinery 25% straight line
Fixtures & Fittings 15% straight line
Computer Equipment 25% straight line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2022 307,778 1,050 1,813 4,584 315,225
Additions - - - 741 741
Disposals - (250 ) - (120 ) (370 )
As at 30 September 2023 307,778 800 1,813 5,205 315,596
Depreciation
As at 1 October 2022 - 918 1,339 2,536 4,793
Provided during the period - 132 166 1,277 1,575
Disposals - (250 ) - (120 ) (370 )
As at 30 September 2023 - 800 1,505 3,693 5,998
Net Book Value
As at 30 September 2023 307,778 - 308 1,512 309,598
As at 1 October 2022 307,778 132 474 2,048 310,432
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 98,560 58,042
Prepayments and accrued income 1,886 5,449
Other taxes and social security - 1
100,446 63,492
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 836 869
Bank loans and overdrafts 12,946 9,864
Corporation tax 23,941 24,731
VAT 20,196 14,055
Net wages - 5,984
Accruals and deferred income 1,750 42,278
Directors' loan accounts 69,999 65,329
129,668 163,110
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 57,484 69,549
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr James Walker 27,000 23,500
Ms Bronwen Thornton 27,000 23,500
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10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 54,000 47,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Bronwen Thornton and James Walker by virtue of their ownership of 100% of the issued share capital in the company.
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