Registered number
12615934
Nick Vane Associates Limited
Unaudited Filleted Accounts
31 May 2024
Nick Vane Associates Limited
Registered number: 12615934
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 909 1,212
Current assets
Debtors 4 5,823 2,319
Cash at bank and in hand 26,076 21,164
31,899 23,483
Creditors: amounts falling due within one year 5 (6,274) (5,422)
Net current assets 25,625 18,061
Net assets 26,534 19,273
Capital and reserves
Called up share capital 2 2
Profit and loss account 26,532 19,271
Shareholders' funds 26,534 19,273
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. Nicholas Vane
Director
Approved by the board on 30 July 2024
Nick Vane Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative 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:
Fixtures, fittings, tools and equipment 25% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 2,783
At 31 May 2024 2,783
Depreciation
At 1 June 2023 1,571
Charge for the year 303
At 31 May 2024 1,874
Net book value
At 31 May 2024 909
At 31 May 2023 1,212
4 Debtors 2024 2023
£ £
Trade debtors 5,500 2,000
Other debtors 323 319
5,823 2,319
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 2,227 2,212
Other creditors 4,047 3,210
6,274 5,422
6 Other information
Nick Vane Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
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