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Registration number: 03672550

Archer Yates Associates Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2023 to 12 March 2024

 

Archer Yates Associates Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Archer Yates Associates Limited

(Registration number: 03672550)
Balance Sheet as at 12 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

3,168

Current assets

 

Debtors

5

23,169

28,747

Cash at bank and in hand

 

214,596

256,393

 

237,765

285,140

Creditors: Amounts falling due within one year

6

(16,254)

(47,668)

Net current assets

 

221,511

237,472

Net assets

 

221,511

240,640

Capital and reserves

 

Called up share capital

7

70

70

Share premium reserve

17,500

17,500

Retained earnings

203,941

223,070

Shareholders' funds

 

221,511

240,640

For the financial period ending 12 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

 

Archer Yates Associates Limited

(Registration number: 03672550)
Balance Sheet as at 12 March 2024

.........................................
J A Lund-Yates
Director

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
7 Threshers Yard
West Street
Kingham
Chipping Norton
Oxon
OX7 6YF

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

Government grants

Government grants are credited to income so as to match them with the expenditure to which they relate.

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% straight line

Amortisation

Asset class

Amortisation method and rate

Internally generated software development costs

Straight line over useful economic life of 4 years

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.

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. 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.

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

46,567

46,567

Disposals

(46,567)

(46,567)

At 12 March 2024

-

-

Depreciation

At 1 October 2023

43,399

43,399

Eliminated on disposal

(43,399)

(43,399)

At 12 March 2024

-

-

Carrying amount

At 12 March 2024

-

-

At 30 September 2023

3,168

3,168

5

Debtors

2024
£

2023
£

Trade debtors

-

8,747

Other debtors

23,169

20,000

23,169

28,747

 

Archer Yates Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 12 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

(1,375)

11,841

Taxation and social security

(15)

8,625

Accruals and deferred income

1,649

11,207

Other creditors

15,995

15,995

16,254

47,668

Creditors: amounts falling due after more than one year

2024
£

2023
£

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

70

70

70

70

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

9

Related party transactions

Summary of transactions with other related parties

At the period end The Old New Inn Bourton Ltd, owed the company £20,000 (2023: £20,000). The Old New Inn Bourton Ltd has common ownership with Archer Yates Associates Limited.The loan was repaid after the period end.
 The loan is repayable on demand