Registered number
05955743
Whitestone Accounting Ltd
Filleted Accounts
31 October 2023
Whitestone Accounting Ltd
Registered number: 05955743
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 122,400 137,700
Tangible assets 4 663 1,049
123,063 138,749
Current assets
Debtors 5 47,152 55,289
Cash at bank and in hand 18,199 245
65,351 55,534
Creditors: amounts falling due within one year 6 (103,757) (99,794)
Net current liabilities (38,406) (44,260)
Total assets less current liabilities 84,657 94,489
Creditors: amounts falling due after more than one year 7 (84,413) (94,914)
Net assets/(liabilities) 244 (425)
Capital and reserves
Called up share capital 100 100
Profit and loss account 144 (525)
Shareholders' funds 244 (425)
The directors are 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 directors acknowledge their 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.
Mr Edward Owen
Director
Approved by the board on 17 September 2024
Whitestone Accounting Ltd
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract 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
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 153,000
At 31 October 2023 153,000
Amortisation
At 1 November 2022 15,300
Provided during the year 15,300
At 31 October 2023 30,600
Net book value
At 31 October 2023 122,400
At 31 October 2022 137,700
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 5,217
Additions 348
At 31 October 2023 5,565
Depreciation
At 1 November 2022 4,168
Charge for the year 734
At 31 October 2023 4,902
Net book value
At 31 October 2023 663
At 31 October 2022 1,049
5 Debtors 2023 2022
£ £
Trade debtors 40,573 32,021
Directors' loan accounts 4,856 23,079
Other debtors 1,723 189
47,152 55,289
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,168 25,721
Trade creditors 4,640 3,399
Taxation and social security costs 64,878 52,979
Other creditors 22,071 17,695
103,757 99,794
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 84,413 94,914
8 Other information
Whitestone Accounting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Cavendish House
15 Whiteladies Road
Clifton
Bristol
BS8 1PB
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