Andrew Liyanage & Associates Limited 05967867 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of specialist financial services. Digita Accounts Production Advanced 6.30.9574.0 true true 05967867 2023-04-01 2024-03-31 05967867 2024-03-31 05967867 core:RetainedEarningsAccumulatedLosses 2024-03-31 05967867 core:ShareCapital 2024-03-31 05967867 core:CurrentFinancialInstruments 2024-03-31 05967867 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05967867 bus:SmallEntities 2023-04-01 2024-03-31 05967867 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05967867 bus:FilletedAccounts 2023-04-01 2024-03-31 05967867 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05967867 bus:RegisteredOffice 2023-04-01 2024-03-31 05967867 bus:Director2 2023-04-01 2024-03-31 05967867 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05967867 countries:EnglandWales 2023-04-01 2024-03-31 05967867 2022-04-01 2023-03-31 05967867 2023-03-31 05967867 core:RetainedEarningsAccumulatedLosses 2023-03-31 05967867 core:ShareCapital 2023-03-31 05967867 core:CurrentFinancialInstruments 2023-03-31 05967867 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 05967867

Andrew Liyanage & Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Andrew Liyanage & Associates Limited

(Registration number: 05967867)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

273,625

273,625

Cash at bank and in hand

 

241

241

 

273,866

273,866

Creditors: Amounts falling due within one year

5

(2,245)

(2,245)

Net assets

 

271,621

271,621

Capital and reserves

 

Called up share capital

100,000

100,000

Retained earnings

171,621

171,621

Shareholders' funds

 

271,621

271,621

For the financial 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.

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 14 August 2024
 

.........................................
Mr D A Liyanage
Director

 

Andrew Liyanage & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG

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.

Judgements

The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Recoverability of trade debtors: the directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.

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.

 

Andrew Liyanage & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Andrew Liyanage & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Debtors

2024
£

2023
£

Trade debtors

211,125

211,125

Other debtors

62,500

62,500

273,625

273,625

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

1,765

1,765

Accruals and deferred income

 

480

480

 

2,245

2,245

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

1,765

1,765