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COMPANY REGISTRATION NUMBER: 09026711
Newton Smith Wills & Probate Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Newton Smith Wills & Probate Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Current assets
Debtors
5
110,796
109,042
Cash at bank and in hand
1,947
11,292
---------
---------
112,743
120,334
Creditors: amounts falling due within one year
6
57,610
56,038
---------
---------
Net current assets
55,133
64,296
--------
--------
Total assets less current liabilities
55,133
64,296
Creditors: amounts falling due after more than one year
7
7,918
9,312
--------
--------
Net assets
47,215
54,984
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
47,115
54,884
--------
--------
Shareholders funds
47,215
54,984
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Newton Smith Wills & Probate Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 17 October 2024 , and are signed on behalf of the board by:
Mr J W Smith
Director
Company registration number: 09026711
Newton Smith Wills & Probate Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit J, South Cambridge Business Park, Babraham Road, Sawston, Cambridge, CB22 3JH, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. Debtors
2024
2023
£
£
Other debtors
110,796
109,042
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,395
1,360
Social security and other taxes
1,606
Other creditors
56,215
53,072
--------
--------
57,610
56,038
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,918
9,312
-------
-------
Included within creditors: amounts falling due after more than one year is an amount of £1,980 (2023: £3,520) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. Directors' advances, credits and guarantees
During the year the company operated a joint loan account on behalf of the directors. The amount advanced to the directors was £1,338 (2023: £1,190) and received repayments totalling £1,190 (2023: £1,212). At the balance sheet date, the amount owed to the company was £59,643 (2023: £59,495). Interest is charged at the HMRC approved rate on the balance while in excess of the beneficial loan exempt value. The loan is repayable on demand.