Aughtersons Limited 07068098 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is the provision of accountancy services Digita Accounts Production Advanced 6.30.9574.0 true true 07068098 2022-12-01 2023-11-30 07068098 2023-11-30 07068098 bus:OrdinaryShareClass1 2023-11-30 07068098 bus:OrdinaryShareClass2 2023-11-30 07068098 core:CurrentFinancialInstruments 2023-11-30 07068098 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 07068098 core:Goodwill 2023-11-30 07068098 bus:SmallEntities 2022-12-01 2023-11-30 07068098 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07068098 bus:FilletedAccounts 2022-12-01 2023-11-30 07068098 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07068098 bus:RegisteredOffice 2022-12-01 2023-11-30 07068098 bus:Director4 2022-12-01 2023-11-30 07068098 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 07068098 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 07068098 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07068098 core:Goodwill 2022-12-01 2023-11-30 07068098 core:OfficeEquipment 2022-12-01 2023-11-30 07068098 countries:England 2022-12-01 2023-11-30 07068098 2022-11-30 07068098 core:Goodwill 2022-11-30 07068098 2021-12-01 2022-11-30 07068098 2022-11-30 07068098 bus:OrdinaryShareClass1 2022-11-30 07068098 bus:OrdinaryShareClass2 2022-11-30 07068098 core:CurrentFinancialInstruments 2022-11-30 07068098 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07068098

Aughtersons Limited



Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

(Registration number: 07068098)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

31,380

1,658

Cash at bank and in hand

 

49,212

104,877

 

80,592

106,535

Creditors: Amounts falling due within one year

6

(8,070)

(35,037)

Net assets

 

72,522

71,498

Capital and reserves

 

Called up share capital

7

40

40

Retained earnings

72,482

71,458

Shareholders' funds

 

72,522

71,498

For the financial year ending 30 November 2023 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 August 2024
 

.........................................
James Richard Aughterson
Director

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
C/o 1 Wheatsheaf Close
Woking
Surrey
GU21 4BL
England

These financial statements were authorised for issue by the director on 5 August 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 based on the financial support of the director.

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.

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Depreciation

Asset class

Depreciation method and rate

Office equipment

33% straight line basis

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

3 years straight line

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.

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

8,825

8,825

At 30 November 2023

8,825

8,825

Amortisation

At 1 December 2022

8,825

8,825

At 30 November 2023

8,825

8,825

Carrying amount

At 30 November 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

-

1,658

Prepayments

6,380

-

Other debtors

25,000

-

 

31,380

1,658

 

Aughtersons Limited

trading as Aughtersons Chartered Accountants

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

296

1,308

Taxation and social security

6,732

32,941

Accruals and deferred income

-

570

Other creditors

1,042

218

8,070

35,037

Creditors: amounts falling due after more than one year

2023
£

2022
£

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

£1 Ordinary B shares of £1 each

10

10

10

10

£1 Ordinary A shares of £1 each

30

30

30

30

40

40

40

40