Registered number
14076392
Kingswood Accountancy (Bristol) Ltd
Unaudited Filleted Accounts
30 April 2024
Kingswood Accountancy (Bristol) Ltd
Registered number: 14076392
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 159,242 178,942
Tangible assets 4 4,769 5,246
164,011 184,188
Current assets
Debtors 5 10,521 8,880
Cash at bank and in hand 27,900 51,245
38,421 60,125
Creditors: amounts falling due within one year 6 (108,455) (144,844)
Net current liabilities (70,034) (84,719)
Total assets less current liabilities 93,977 99,469
Provisions for liabilities - (42)
Net assets 93,977 99,427
Capital and reserves
Called up share capital 1 1
Share premium 92,228 92,228
Profit and loss account 1,748 7,198
Shareholder's funds 93,977 99,427
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Claire Woodman
Director
Approved by the board on 14 June 2024
Kingswood Accountancy (Bristol) Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 4 years
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 197,000
At 30 April 2024 197,000
Amortisation
At 1 May 2023 18,058
Provided during the year 19,700
At 30 April 2024 37,758
Net book value
At 30 April 2024 159,242
At 30 April 2023 178,942
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 May 2023 2,374 4,462 6,836
Additions - 1,113 1,113
At 30 April 2024 2,374 5,575 7,949
Depreciation
At 1 May 2023 475 1,115 1,590
Charge for the year 475 1,115 1,590
At 30 April 2024 950 2,230 3,180
Net book value
At 30 April 2024 1,424 3,345 4,769
At 30 April 2023 1,899 3,347 5,246
5 Debtors 2024 2023
£ £
Trade debtors 1,428 8,880
Deferred tax asset 72 -
Other debtors 9,021 -
10,521 8,880
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,453 1,903
Taxation and social security costs 16,531 32,870
Income received in advance 88,751 97,078
Provision for bad debts - 6,357
Other creditors 1,720 6,636
108,455 144,844
7 Other information
Kingswood Accountancy (Bristol) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
TaxAssist Accountants
2a Hill Street
Kingswood
Bristol
BS15 4EP
Kingswood Accountancy (Bristol) Ltd 14076392 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 Claire Woodman No description of principal activity 14076392 2022-04-28 2023-04-30 14076392 core:WithinOneYear 2023-04-30 14076392 core:ShareCapital 2023-04-30 14076392 core:SharePremium 2023-04-30 14076392 core:RetainedEarningsAccumulatedLosses 2023-04-30 14076392 2023-05-01 2024-04-30 14076392 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14076392 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14076392 bus:Director40 2023-05-01 2024-04-30 14076392 1 2023-05-01 2024-04-30 14076392 2 2023-05-01 2024-04-30 14076392 core:Goodwill 2023-05-01 2024-04-30 14076392 core:PlantMachinery 2023-05-01 2024-04-30 14076392 core:Vehicles 2023-05-01 2024-04-30 14076392 countries:England 2023-05-01 2024-04-30 14076392 bus:FRS102 2023-05-01 2024-04-30 14076392 bus:FilletedAccounts 2023-05-01 2024-04-30 14076392 2024-04-30 14076392 core:WithinOneYear 2024-04-30 14076392 core:ShareCapital 2024-04-30 14076392 core:SharePremium 2024-04-30 14076392 core:RetainedEarningsAccumulatedLosses 2024-04-30 14076392 core:Goodwill 2024-04-30 14076392 core:PlantMachinery 2024-04-30 14076392 core:Vehicles 2024-04-30 14076392 2023-04-30 14076392 core:Goodwill 2023-04-30 14076392 core:PlantMachinery 2023-04-30 14076392 core:Vehicles 2023-04-30 iso4217:GBP xbrli:pure