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REGISTERED NUMBER: 05938956 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2023 to 31 October 2023

for

Asquith & Co Accountants Limited

Asquith & Co Accountants Limited (Registered number: 05938956)






Contents of the Financial Statements
for the Period 1 April 2023 to 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Asquith & Co Accountants Limited

Company Information
for the Period 1 April 2023 to 31 October 2023







DIRECTORS: Mr C D Mattinson FCCA
Mr D I Bulman FCCA
Miss J A Springham BSc FCCA





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 05938956 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Asquith & Co Accountants Limited (Registered number: 05938956)

Balance Sheet
31 October 2023

31.10.23 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 48,583 55,000
Tangible assets 5 371,179 377,750
Investments 6 - 81,952
419,762 514,702

CURRENT ASSETS
Stocks 187,771 201,468
Debtors 7 236,284 277,464
Cash at bank and in hand 156,002 206,399
580,057 685,331
CREDITORS
Amounts falling due within one year 8 394,312 437,384
NET CURRENT ASSETS 185,745 247,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,507

762,649

CREDITORS
Amounts falling due after more than one
year

9

(221,898

)

(266,702

)

PROVISIONS FOR LIABILITIES (27,905 ) (21,742 )
NET ASSETS 355,704 474,205

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 355,584 474,085
SHAREHOLDERS' FUNDS 355,704 474,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Asquith & Co Accountants Limited (Registered number: 05938956)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:




Mr D I Bulman FCCA - Director



Mr C D Mattinson FCCA - Director


Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 October 2023

1. STATUTORY INFORMATION

Asquith & Co Accountants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents professional fees invoiced during the year, excluding value added tax, except in respect of service contracts where turnover is recognised when the right to consideration is earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks & work in progress
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Work in progress is valued at the recoverable amount.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 25 (2023 - 23 ) .

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 October 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 October 2023 363,890
AMORTISATION
At 1 April 2023 308,890
Charge for period 6,417
At 31 October 2023 315,307
NET BOOK VALUE
At 31 October 2023 48,583
At 31 March 2023 55,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 321,921 248,671 570,592
Additions - 6,461 6,461
At 31 October 2023 321,921 255,132 577,053
DEPRECIATION
At 1 April 2023 43,730 149,112 192,842
Charge for period 3,755 9,277 13,032
At 31 October 2023 47,485 158,389 205,874
NET BOOK VALUE
At 31 October 2023 274,436 96,743 371,179
At 31 March 2023 278,191 99,559 377,750

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 81,952
Disposals (81,952 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 March 2023 81,952

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 October 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.3.23
£    £   
Trade debtors 196,781 212,787
Other debtors 39,503 64,677
236,284 277,464

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.3.23
£    £   
Bank loans and overdrafts 77,651 75,769
Trade creditors 15,598 24,105
Taxation and social security 235,634 238,236
Other creditors 65,429 99,274
394,312 437,384

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.3.23
£    £   
Bank loans 221,898 266,702

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 95,557 102,256

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.23 31.3.23
£    £   
Within one year 41,411 14,255
Between one and five years 83,584 30,281
In more than five years 26,400 30,600
151,395 75,136

Asquith & Co Accountants Limited (Registered number: 05938956)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 October 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 31 October 2023 and 31 March 2023:

31.10.23 31.3.23
£    £   
Miss J A Springham BSc FCCA
Balance outstanding at start of period 5,000 -
Amounts advanced - 5,000
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 5,000

Mr D I Bulman FCCA
Balance outstanding at start of period 5,000 -
Amounts advanced - 5,000
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 5,000

Mr C D Mattinson FCCA
Balance outstanding at start of period 5,000 -
Amounts advanced - 5,000
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 5,000