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Registration number: 09849249

Landmark Accountants Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Landmark Accountants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Landmark Accountants Limited

Company Information

Directors

P A R Cole

S McMorrow

C Wilson

M Jones

A Thomas

P Hadjipanayi

Registered office

Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS

 

Landmark Accountants Limited

(Registration number: 09849249)
Balance Sheet as at 31 July 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Intangible assets

4

 

-

 

7,310

Tangible assets

5

 

15,071

 

29,211

Investments

6

 

49

 

49

   

15,120

 

36,570

Current assets

   

 

Debtors

7

1,327,890

 

1,125,037

 

Cash at bank and in hand

 

671,098

 

556,694

 

 

1,998,988

 

1,681,731

 

Creditors: Amounts falling due within one year

8

(646,432)

 

(473,078)

 

Net current assets

   

1,352,556

 

1,208,653

Total assets less current liabilities

   

1,367,676

 

1,245,223

Provisions for liabilities

 

(3,768)

 

(3,621)

Net assets

   

1,363,908

 

1,241,602

Capital and reserves

   

 

Called up share capital

286,502

 

286,502

 

Share premium reserve

364,374

 

364,374

 

Capital redemption reserve

57,501

 

57,501

 

Retained earnings

655,531

 

533,225

 

Shareholders' funds

   

1,363,908

 

1,241,602

For the financial year ending 31 July 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 year 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 23 August 2024 and signed on its behalf by:
 

 

Landmark Accountants Limited

(Registration number: 09849249)
Balance Sheet as at 31 July 2024

.........................................
P A R Cole
Director

 

Landmark Accountants Limited

Notes to the Financial Statements for the Year Ended 31 July 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:
Leavesden Park
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
England

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 presentational currency of these financial statements is £ Sterling. The level of rounding is to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Landmark Accountants Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Short leasehold land and buildings

over the term of the lease

Fixtures and fittings

over 5 years straight line

Plant and machinery

over 5 years straight line

Office equipment

over 3 years straight line

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over five years

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

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.

 

Landmark Accountants Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised 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 at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2023 - 29).

 

Landmark Accountants Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

512,663

512,663

At 31 July 2024

512,663

512,663

Amortisation

At 1 August 2023

505,353

505,353

Amortisation charge

7,310

7,310

At 31 July 2024

512,663

512,663

Carrying amount

At 31 July 2024

-

-

At 31 July 2023

7,310

7,310

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

67,883

15,500

3,496

89,746

176,625

Additions

-

-

-

6,372

6,372

At 31 July 2024

67,883

15,500

3,496

96,118

182,997

Depreciation

At 1 August 2023

58,187

15,500

3,106

70,621

147,414

Charge for the year

9,696

-

390

10,426

20,512

At 31 July 2024

67,883

15,500

3,496

81,047

167,926

Carrying amount

At 31 July 2024

-

-

-

15,071

15,071

At 31 July 2023

9,696

-

390

19,125

29,211

 

Landmark Accountants Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Investments

2024
£

2023
£

Investments in associates

49

49

Associates

£

Cost

At 1 August 2023

49

Carrying amount

At 31 July 2024

49

At 31 July 2023

49

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,069,602

962,202

Prepayments

80,961

50,321

Other debtors

177,327

112,514

 

1,327,890

1,125,037

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

36,383

48,157

Taxation and social security

451,177

326,225

Accruals and deferred income

542

373

Other creditors

158,330

98,323

646,432

473,078

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £284,919 (2023 - £411,411).