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Registered number: 06283027
Mendip Accounting Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Mendip Accounting Solutions Ltd
6 Hill Road
Clevedon
North Somerset
BS21 7NE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06283027
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 128,700 115,622
128,700 115,622
CURRENT ASSETS
Debtors 5 14,363 11,372
Cash at bank and in hand 28,366 12,747
42,729 24,119
Creditors: Amounts Falling Due Within One Year 6 (92,647 ) (94,928 )
NET CURRENT ASSETS (LIABILITIES) (49,918 ) (70,809 )
TOTAL ASSETS LESS CURRENT LIABILITIES 78,782 44,813
NET ASSETS 78,782 44,813
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 78,682 44,713
SHAREHOLDERS' FUNDS 78,782 44,813
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Hannah Cook
Director
11/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mendip Accounting Solutions Limited Registered number 06283027 is a limited by shares company incorporated in England & Wales. The Registered Office is 187 Mendip Road, Yatton, North Somerset, BS49 4ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 N/A
Motor Vehicles 25% RB
Fixtures & Fittings 25% RB
Computer Equipment 33% SL
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 10)
9 10
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 113,485 - 7,099 18,465 139,049
Additions - 17,500 - 1,290 18,790
As at 31 March 2024 113,485 17,500 7,099 19,755 157,839
Depreciation
As at 1 April 2023 - - 5,520 17,907 23,427
Provided during the period - 4,375 395 942 5,712
As at 31 March 2024 - 4,375 5,915 18,849 29,139
Net Book Value
As at 31 March 2024 113,485 13,125 1,184 906 128,700
As at 1 April 2023 113,485 - 1,579 558 115,622
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,867 8,372
Prepayments and accrued income 3,000 3,000
Director's loan account 496 -
14,363 11,372
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,919 2,310
Bank loans and overdrafts 41,935 60,000
Corporation tax 23,215 11,518
Other taxes and social security 2,706 2,561
VAT 17,577 15,754
Net wages 195 -
Other creditors 1,100 676
Director's loan account - 2,109
92,647 94,928
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 41,200 40,900
10. Controlling Party
The company's controlling party is director by virtue of his ownership of 50% of the issued share capital in the company.
Page 4