DeVines Accountants Limited 04486535 false 2021-10-01 2022-09-30 2022-09-30 The principal activity of the company is was that of chartered accountants providing accountancy and taxation services Digita Accounts Production Advanced 6.30.9574.0 true true 04486535 2021-10-01 2022-09-30 04486535 2022-09-30 04486535 bus:OrdinaryShareClass1 2022-09-30 04486535 bus:OrdinaryShareClass2 2022-09-30 04486535 bus:OrdinaryShareClass3 2022-09-30 04486535 core:RetainedEarningsAccumulatedLosses 2022-09-30 04486535 core:ShareCapital 2022-09-30 04486535 core:CurrentFinancialInstruments 2022-09-30 04486535 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 04486535 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 04486535 core:Goodwill 2022-09-30 04486535 core:FurnitureFittingsToolsEquipment 2022-09-30 04486535 core:OtherPropertyPlantEquipment 2022-09-30 04486535 bus:SmallEntities 2021-10-01 2022-09-30 04486535 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 04486535 bus:FullAccounts 2021-10-01 2022-09-30 04486535 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 04486535 bus:RegisteredOffice 2021-10-01 2022-09-30 04486535 bus:CompanySecretary1 2021-10-01 2022-09-30 04486535 bus:Director2 2021-10-01 2022-09-30 04486535 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 04486535 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 04486535 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 04486535 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 04486535 core:Goodwill 2021-10-01 2022-09-30 04486535 core:FurnitureFittings 2021-10-01 2022-09-30 04486535 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 04486535 core:MotorVehicles 2021-10-01 2022-09-30 04486535 core:OfficeEquipment 2021-10-01 2022-09-30 04486535 core:OtherPropertyPlantEquipment 2021-10-01 2022-09-30 04486535 core:PlantMachinery 2021-10-01 2022-09-30 04486535 countries:England 2021-10-01 2022-09-30 04486535 2021-09-30 04486535 core:Goodwill 2021-09-30 04486535 core:FurnitureFittingsToolsEquipment 2021-09-30 04486535 core:OtherPropertyPlantEquipment 2021-09-30 04486535 2020-10-01 2021-09-30 04486535 2021-09-30 04486535 bus:OrdinaryShareClass1 2021-09-30 04486535 bus:OrdinaryShareClass2 2021-09-30 04486535 bus:OrdinaryShareClass3 2021-09-30 04486535 core:RetainedEarningsAccumulatedLosses 2021-09-30 04486535 core:ShareCapital 2021-09-30 04486535 core:CurrentFinancialInstruments 2021-09-30 04486535 core:CurrentFinancialInstruments core:WithinOneYear 2021-09-30 04486535 core:Non-currentFinancialInstruments core:AfterOneYear 2021-09-30 04486535 core:Goodwill 2021-09-30 04486535 core:FurnitureFittingsToolsEquipment 2021-09-30 04486535 core:OtherPropertyPlantEquipment 2021-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04486535

DeVines Accountants Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2022

 

DeVines Accountants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

DeVines Accountants Limited

Company Information

Director

C R Purdy

Company secretary

Mrs A M Purdy

Registered office

Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

 

DeVines Accountants Limited

(Registration number: 04486535)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

26,756

45,168

Tangible assets

5

4,896

4,804

 

31,652

49,972

Current assets

 

Debtors

6

266,413

212,325

Cash at bank and in hand

 

46,680

188,588

 

313,093

400,913

Creditors: Amounts falling due within one year

7

(83,518)

(120,416)

Net current assets

 

229,575

280,497

Total assets less current liabilities

 

261,227

330,469

Creditors: Amounts falling due after more than one year

7

(37,037)

(43,148)

Provisions for liabilities

(913)

(913)

Net assets

 

223,277

286,408

Capital and reserves

 

Called up share capital

8

5

5

Retained earnings

223,272

286,403

Shareholders' funds

 

223,277

286,408

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2024
 

 

DeVines Accountants Limited

(Registration number: 04486535)
Balance Sheet as at 30 September 2022

.........................................
C R Purdy
Director

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

These financial statements were authorised for issue by the director on 31 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants received under the Coronavirus Small Business Grants Fund and the Coronavirus Job Retention Scheme are accounted for as other income and in the period in which they are received.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 7 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2021 - 5).

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2021

368,247

368,247

At 30 September 2022

368,247

368,247

Amortisation

At 1 October 2021

323,079

323,079

Amortisation charge

18,412

18,412

At 30 September 2022

341,491

341,491

Carrying amount

At 30 September 2022

26,756

26,756

At 30 September 2021

45,168

45,168

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2021

58,003

1,600

59,603

Additions

1,950

-

1,950

Disposals

-

(1,600)

(1,600)

At 30 September 2022

59,953

-

59,953

Depreciation

At 1 October 2021

54,252

1,374

55,626

Charge for the year

805

-

805

Eliminated on disposal

-

(1,374)

(1,374)

At 30 September 2022

55,057

-

55,057

Carrying amount

At 30 September 2022

4,896

-

4,896

At 30 September 2021

4,578

226

4,804

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

6

Debtors

Current

2022
£

2021
£

Trade debtors

255,528

209,940

Other debtors

10,885

2,385

 

266,413

212,325

 

DeVines Accountants Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

5,556

5,000

Trade creditors

 

1,112

873

Taxation and social security

 

71,723

94,234

Accruals and deferred income

 

-

10,759

Other creditors

 

5,127

9,550

 

83,518

120,416

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

37,037

43,148

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A shares of £1 each

2

2

2

2

Ordinary B shares of £1 each

2

2

2

2

Ordinary C Shares of £1 each

1

1

1

1

 

5

5

5

5

9

Reserves

The only movements on reserves in this period are losses and dividends (2021- profits and dividends.)

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £31,980 (2021 - £780).