Company Registration No. 06528831 (England and Wales)
Babcock Tax and Accountancy Services Limited
Unaudited accounts
for the year ended 31 March 2024
Babcock Tax and Accountancy Services Limited
Unaudited accounts
Contents
Babcock Tax and Accountancy Services Limited
Company Information
for the year ended 31 March 2024
Company Number
06528831 (England and Wales)
Registered Office
The Florins
8 Lulworth Close
Hayling Island
Hampshire
PO11 0NY
United Kingdom
Accountants
Babcock Tax & Accountancy Services Ltd
The Florins, 8 Lulworth Close
Hayling Island
Hampshire
PO11 0NY
Babcock Tax and Accountancy Services Limited
Statement of financial position
as at 31 March 2024
Tangible assets
28,898
30,072
Cash at bank and in hand
42,371
23,898
Creditors: amounts falling due within one year
(64,301)
(58,289)
Net current assets/(liabilities)
3,660
(11,798)
Total assets less current liabilities
32,558
18,274
Creditors: amounts falling due after more than one year
-
(6,500)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
31,385
10,733
Shareholders' funds
31,485
10,833
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 August 2024 and were signed on its behalf by
Mrs V M Evans
Director
Company Registration No. 06528831
Babcock Tax and Accountancy Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Babcock Tax and Accountancy Services Limited is a private company, limited by shares, registered in England and Wales, registration number 06528831. The registered office is The Florins, 8 Lulworth Close, Hayling Island, Hampshire, PO11 0NY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & Fittings - 25% on reducing balance
Computer equipment - 33% on cost
Improvements to property - 2% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Babcock Tax and Accountancy Services Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
25,625
7,350
2,431
35,406
At 31 March 2024
25,625
7,350
3,269
36,244
At 1 April 2023
513
2,745
2,076
5,334
Charge for the year
513
1,151
348
2,012
At 31 March 2024
1,026
3,896
2,424
7,346
At 31 March 2024
24,599
3,454
845
28,898
At 31 March 2023
25,112
4,605
355
30,072
Amounts falling due within one year
Trade debtors
21,847
19,686
Accrued income and prepayments
2,993
2,257
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,934
3,000
Trade creditors
6,149
5,320
Taxes and social security
10,438
8,673
Other creditors
36,609
30,245
Loans from directors
457
163
7
Creditors: amounts falling due after more than one year
2024
2023
The ultimate controlling party is Mrs V M Evans
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).