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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
Page
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Babcock Tax and Accountancy Services Limited Company Information for the year ended 31 March 2024
Director
Mrs V M Evans
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
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Babcock Tax and Accountancy Services Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,898 
30,072 
Current assets
Inventories
750 
650 
Debtors
24,840 
21,943 
Cash at bank and in hand
42,371 
23,898 
67,961 
46,491 
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
Deferred tax
(1,073)
(941)
Net assets
31,485 
10,833 
Capital and reserves
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
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Babcock Tax and Accountancy Services Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Stocks
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.
Pension costs
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.
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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 
Additions
- 
- 
838 
838 
At 31 March 2024
25,625 
7,350 
3,269 
36,244 
Depreciation
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 
Net book value
At 31 March 2024
24,599 
3,454 
845 
28,898 
At 31 March 2023
25,112 
4,605 
355 
30,072 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,847 
19,686 
Accrued income and prepayments
2,993 
2,257 
24,840 
21,943 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,934 
3,000 
VAT
8,464 
9,724 
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 
Accruals
250 
1,164 
64,301 
58,289 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
6,500 
8
Controlling party
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).
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