Registered number
03450912
J. Toop Associates Limited
Filleted Accounts
31 October 2023
J. Toop Associates Limited
Registered number: 03450912
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 1 1
2 2
Current assets
Debtors 5 110,693 96,571
Cash at bank and in hand 38,554 43,597
149,247 140,168
Creditors: amounts falling due within one year 6 (56,869) (45,774)
Net current assets 92,378 94,394
Net assets 92,380 94,396
Capital and reserves
Called up share capital 100 100
Profit and loss account 92,280 94,296
Shareholders' funds 92,380 94,396
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
J P Toop
Director
Approved by the board on 23 September 2024
J. Toop Associates Limited
Notes to the Accounts
for the year ended 31 October 2023
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a service is measured by comparing the costs incurred for work performed to date to the total estimated 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 3 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.
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. 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.. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 97,500
At 31 October 2023 97,500
Amortisation
At 1 November 2022 97,499
At 31 October 2023 97,499
Net book value
At 31 October 2023 1
At 31 October 2022 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 8,135
At 31 October 2023 8,135
Depreciation
At 1 November 2022 8,134
At 31 October 2023 8,134
Net book value
At 31 October 2023 1
At 31 October 2022 1
5 Debtors 2023 2022
£ £
Trade debtors 109,344 90,546
Other debtors 1,349 6,025
110,693 96,571
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 6,497 3,097
Taxation and social security costs 22,767 17,416
Other creditors 27,605 25,261
56,869 45,774
7 Other information
J. Toop Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Chertsey Road
Woking
Surrey
GU21 5AB
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