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Registration number: 09025554

Andrew Stephenson Advisory Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Andrew Stephenson Advisory Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Andrew Stephenson Advisory Ltd

Company Information

Director

Mr Andrew Stephenson

Company secretary

Mrs Rosamund Stephenson

Registered office

Ashmead
Hillhead
Colyton
Devon
EX24 6NJ

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

 

Andrew Stephenson Advisory Ltd

Director's Report for the Year Ended 31 May 2024

The director presents his report and the abridged financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

Mr Andrew Stephenson

Principal activity

The principal activity of the company is Legal Consultancy Services

Small companies provision statement

This report has 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.

Approved and authorised by the director on 29 October 2024
 

.........................................
Mr Andrew Stephenson
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Andrew Stephenson Advisory Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Andrew Stephenson Advisory Ltd for the year ended 31 May 2024 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Andrew Stephenson Advisory Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Andrew Stephenson Advisory Ltd and state those matters that we have agreed to state to the Board of Directors of Andrew Stephenson Advisory Ltd, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrew Stephenson Advisory Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Andrew Stephenson Advisory Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Andrew Stephenson Advisory Ltd. You consider that Andrew Stephenson Advisory Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Andrew Stephenson Advisory Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

29 October 2024

 

Andrew Stephenson Advisory Ltd

(Registration number: 09025554)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

4,356

1,634

Cash at bank and in hand

 

20,929

19,545

 

25,285

21,179

Creditors: Amounts falling due within one year

(3,458)

(2,596)

Total assets less current liabilities

 

21,827

18,583

Accruals and deferred income

 

(1,380)

(2,412)

Net assets

 

20,447

16,171

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

20,347

16,071

Shareholders' funds

 

20,447

16,171

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

.........................................
Mr Andrew Stephenson
Director

 

Andrew Stephenson Advisory Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Ashmead
Hillhead
Colyton
Devon
EX24 6NJ

These financial statements were authorised for issue by the director on 29 October 2024.

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 abridged 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 abridged 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.

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 sale of goods and 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 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.

 

Andrew Stephenson Advisory Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Andrew Stephenson Advisory Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £549.019) per ordinary share

-

54,902

 

 

7

Related party transactions

 

Andrew Stephenson Advisory Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

9,100

Contributions paid to money purchase schemes

443

5,086

443

14,186