Registered number
09335312
Edward Fitzsimmons & Associates Ltd
Filleted Accounts
31 December 2023
Edward Fitzsimmons & Associates Ltd
Registered number: 09335312
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,230 2,974
Current assets
Debtors 4 262,528 251,896
Cash at bank and in hand 1,914 12,885
264,442 264,781
Creditors: amounts falling due within one year 5 (28,340) (42,694)
Net current assets 236,102 222,087
Total assets less current liabilities 238,332 225,061
Creditors: amounts falling due after more than one year 6 (35,727) (38,726)
Provisions for liabilities (424) (565)
Net assets 202,181 185,770
Capital and reserves
Called up share capital 100 100
Share premium 19,975 19,975
Profit and loss account 182,106 165,695
Shareholders' funds 202,181 185,770
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.
Mr E Fitzsimmons
Director
Approved by the board on 1 February 2024
Edward Fitzsimmons & Associates Ltd
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. 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.
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:
Equipment and Website over 5 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 1 1
3 Tangible fixed assets
Equipment and Website
£
Cost
At 1 January 2023 8,834
At 31 December 2023 8,834
Depreciation
At 1 January 2023 5,860
Charge for the year 744
At 31 December 2023 6,604
Net book value
At 31 December 2023 2,230
At 31 December 2022 2,974
4 Debtors 2023 2022
£ £
Trade debtors 5,656 1,821
Other debtors 256,872 250,075
262,528 251,896
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,882 5,882
Trade creditors 2,045 16,249
Taxation and social security costs 9,083 9,579
Other creditors 11,330 10,984
28,340 42,694
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,727 38,726
7 Related party transactions
Vivir Properties Ltd of which Mr E Fitzsimmons is a director and shareholder of. Amount due from Vivir Properties Ltd at 31/12/23 is £237,400 (2022 £250,000).
8 Other information
Edward Fitzsimmons & Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
21a Whitecliff Road
Poole
BH4 8DU
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