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Registered number: 04593713
Dhillon Accountants Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04593713
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,698 -
Tangible Assets 5 19,007 21,009
44,705 21,009
CURRENT ASSETS
Debtors 6 178,483 88,616
Cash at bank and in hand 165,413 130,699
343,896 219,315
Creditors: Amounts Falling Due Within One Year 7 (137,946 ) (56,796 )
NET CURRENT ASSETS (LIABILITIES) 205,950 162,519
TOTAL ASSETS LESS CURRENT LIABILITIES 250,655 183,528
Creditors: Amounts Falling Due After More Than One Year 8 (27,268 ) (52,885 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,465 ) (1,465 )
NET ASSETS 221,922 129,178
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 221,822 129,078
SHAREHOLDERS' FUNDS 221,922 129,178
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Aurijit Basu
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dhillon Accountants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04593713 . The registered office is Office 1, 21 Hatherton Street, Walsall, WS4 2LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 92,506
Additions 27,050
As at 30 November 2023 119,556
Amortisation
As at 1 December 2022 92,506
Provided during the period 1,352
As at 30 November 2023 93,858
Net Book Value
As at 30 November 2023 25,698
As at 1 December 2022 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2022 51,883
Additions 2,750
As at 30 November 2023 54,633
Depreciation
As at 1 December 2022 30,874
Provided during the period 4,752
As at 30 November 2023 35,626
Net Book Value
As at 30 November 2023 19,007
As at 1 December 2022 21,009
Page 4
Page 5
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 147,929 59,704
Prepayments and accrued income 5,032 -
Other debtors 4,356 746
Amounts owed by group undertakings 21,166 28,166
178,483 88,616
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 27,837 2,366
Bank loans and overdrafts 8,819 -
Corporation tax 43,879 15,893
Other taxes and social security 11,815 2,560
VAT 41,704 35,244
Net wages 3,709 -
Director's loan account 183 733
137,946 56,796
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 27,268 52,885
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Clinical Accountants Limited . Clinical Accountants Limited was incorporated in England and Wales.
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