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Registration number: 03672550

Archer Yates Associates Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2022 to 30 September 2023

 

Archer Yates Associates Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Archer Yates Associates Limited

(Registration number: 03672550)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,168

3,978

Current assets

 

Debtors

5

28,747

184,796

Cash at bank and in hand

 

256,393

567,411

 

285,140

752,207

Creditors: Amounts falling due within one year

6

(47,668)

(456,183)

Net current assets

 

237,472

296,024

Total assets less current liabilities

 

240,640

300,002

Creditors: Amounts falling due after more than one year

6

-

(30,000)

Net assets

 

240,640

270,002

Capital and reserves

 

Called up share capital

7

70

70

Share premium reserve

17,500

17,500

Retained earnings

223,070

252,432

Shareholders' funds

 

240,640

270,002

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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 Board on 6 February 2024 and signed on its behalf by:
 

 

Archer Yates Associates Limited

(Registration number: 03672550)
Balance Sheet as at 30 September 2023

.........................................
J A Lund-Yates
Director

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

1

General information

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

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
7 Threshers Yard
West Street
Kingham
Chipping Norton
Oxon
OX7 6YF

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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

Government grants are credited to income so as to match them with the expenditure to which they relate.

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

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.

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

Fixtures and fittings

15% straight line

Amortisation

Asset class

Amortisation method and rate

Internally generated software development costs

Straight line over useful economic life of 4 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.

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. 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.

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 4).

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

44,769

44,769

Additions

1,798

1,798

At 30 September 2023

46,567

46,567

Depreciation

At 1 July 2022

40,791

40,791

Charge for the period

2,608

2,608

At 30 September 2023

43,399

43,399

Carrying amount

At 30 September 2023

3,168

3,168

At 30 June 2022

3,978

3,978

5

Debtors

2023
£

2022
£

Trade debtors

8,747

23,050

Prepayments

-

6,950

Other debtors

20,000

154,796

28,747

184,796

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

10,000

Trade creditors

 

11,841

13,102

Taxation and social security

 

8,625

79,227

Accruals and deferred income

 

11,207

24,069

Other creditors

 

15,995

329,785

 

47,668

456,183

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

-

30,000

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

70

70

70

70

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

30,000

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

10,000

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2022 to 30 September 2023

9

Related party transactions

Summary of transactions with other related parties

At the period end The Old New Inn Bourton Ltd, owed the company £20,000 (2022: £120,000). The Old New Inn Bourton Ltd has common ownership with Archer Yates Associates Limited.
 The loan is repayable on demand