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Registered number: 04148619
Douglas Steers & Company Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr D Steers
Company Number 04148619
Registered Office Old Firestation The Quayside Maltings, High Street
Mistley
Manningtree
Essex
CO11 1AR
Accountants GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Page 1
Page 2
Balance Sheet
Registered number: 04148619
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,348 63,394
Investments 5 1,926 15,000
115,274 78,394
CURRENT ASSETS
Debtors 6 1,805,816 1,214,839
Cash at bank and in hand 211,029 978,976
2,016,845 2,193,815
Creditors: Amounts Falling Due Within One Year 7 (205,462 ) (256,585 )
NET CURRENT ASSETS (LIABILITIES) 1,811,383 1,937,230
TOTAL ASSETS LESS CURRENT LIABILITIES 1,926,657 2,015,624
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,029 ) -
NET ASSETS 1,924,628 2,015,624
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 322 -
Profit and Loss Account 1,924,206 2,015,524
SHAREHOLDERS' FUNDS 1,924,628 2,015,624
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Page 3
For the year ending 31 January 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 his 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
Mr D Steers
Director
31/10/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Douglas Steers & Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04148619 . The registered office is Old Firestation The Quayside Maltings, High Street, Mistley, Manningtree, Essex, CO11 1AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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 contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Straight line
Computer Equipment 33.33% Straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 39 (2023: 18)
39 18
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 66,865 9,064 21,399 97,328
Additions 64,001 1,178 17,546 82,725
As at 31 January 2024 130,866 10,242 38,945 180,053
Depreciation
As at 1 February 2023 16,715 3,204 14,015 33,934
Provided during the period 22,907 2,291 7,573 32,771
As at 31 January 2024 39,622 5,495 21,588 66,705
Net Book Value
As at 31 January 2024 91,244 4,747 17,357 113,348
As at 1 February 2023 50,150 5,860 7,384 63,394
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5. Investments
Other
£
Cost
As at 1 February 2023 15,000
Disposals (16,093 )
Revaluations 3,019
As at 31 January 2024 1,926
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 1,926
As at 1 February 2023 15,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 627,358 585,932
Other debtors 1,178,458 628,907
1,805,816 1,214,839
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,574 11,985
Other creditors 5,946 18,065
Taxation and social security 185,942 226,535
205,462 256,585
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6
Page 7
9. Reserves
Revaluation Reserve
£
Transfer to profit and loss 322
As at 31 January 2024 322
10. Related Party Transactions
Included in other debtors is £1,176,358 (2023: £619,561) owed from companies related by virtue of common control. These are interest free, unsecured and repayable on demand.
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