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Registration number: 08087924

Saddleworth Accountancy Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Saddleworth Accountancy Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Saddleworth Accountancy Limited

Company Information

Director

Mr Adrian Green

Company secretary

Mrs Catherine Green

Registered office

3 Friarmere Dell
Huddersfield Road
Delph
Oldham
OL3 5GN

Accountants

Bright Partnership Limited
Chartered Accountants & Business Advisors
Unit 26 Edward Court
Altrincham Business Park
Altrincham
WA14 5GL

 

Saddleworth Accountancy Limited

(Registration number: 08087924)
Statement of Financial Position as at 31 May 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

5

167

631

Current assets

 

Debtors

6

17,198

26,342

Cash at bank and in hand

 

165,662

201,556

 

182,860

227,898

Creditors: Amounts falling due within one year

7

(18,828)

(19,030)

Net current assets

 

164,032

208,868

Net assets

 

164,199

209,499

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

164,099

209,399

Shareholders' funds

 

164,199

209,499

For the financial year ending 31 May 2024 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.

Approved and authorised by the director on 30 July 2024
 

.........................................
Mr Adrian Green
Director

 

Saddleworth Accountancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
3 Friarmere Dell
Huddersfield Road
Delph
Oldham
OL3 5GN

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

These financial statements are presented in sterling, which is the functional currency of the entity.

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.

Tax

The tax expense for the period comprises current 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.

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.

 

Saddleworth Accountancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

33% Straight line basis

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. 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.

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.

 

Saddleworth Accountancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

464

735

 

Saddleworth Accountancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

6,830

6,830

At 31 May 2024

6,830

6,830

Depreciation

At 1 June 2023

6,199

6,199

Charge for the year

464

464

At 31 May 2024

6,663

6,663

Carrying amount

At 31 May 2024

167

167

At 31 May 2023

631

631

6

Debtors

Current

2024
£

(As restated)

2023
£

Trade debtors

2,700

11,892

Prepayments

158

150

Other debtors

14,340

14,300

 

17,198

26,342

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

583

78

Taxation and social security

18,205

18,952

Accruals and deferred income

40

-

18,828

19,030

8

Share capital

Allotted, called up and fully paid shares

 

Saddleworth Accountancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

45,330

42,805

Contributions paid to money purchase schemes

16,440

8,556

61,770

51,361