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COMPANY REGISTRATION NUMBER: 06720852
P THOMAS ASSOCIATES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2024
P THOMAS ASSOCIATES LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
23,661
34,554
CURRENT ASSETS
Debtors
6
23,737
44,166
Cash at bank and in hand
90,358
175,310
---------
---------
114,095
219,476
CREDITORS: amounts falling due within one year
7
57,304
89,941
---------
---------
NET CURRENT ASSETS
56,791
129,535
--------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
80,452
164,089
--------
---------
NET ASSETS
80,452
164,089
--------
---------
CAPITAL AND RESERVES
Called up and fully paid share capital
100
100
Profit and loss account
80,352
163,989
--------
---------
SHAREHOLDERS FUNDS
80,452
164,089
--------
---------
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 30 September 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 .
P THOMAS ASSOCIATES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
Mr P Thomas
Director
Company registration number: 06720852
P THOMAS ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 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 Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
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 and are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
40% reducing balance
Motor Vehicles
-
25% reducing balance
Computer Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Computer Equipment
Total
£
£
£
£
Cost
At 1 October 2023
7,282
39,750
11,952
58,984
Additions
67
328
395
Disposals
( 6,258)
( 7,094)
( 13,352)
-------
--------
--------
--------
At 30 September 2024
1,091
39,750
5,186
46,027
-------
--------
--------
--------
Depreciation
At 1 October 2023
6,579
9,938
7,914
24,431
Charge for the year
116
7,453
1,838
9,407
Disposals
( 6,258)
( 5,214)
( 11,472)
-------
--------
--------
--------
At 30 September 2024
437
17,391
4,538
22,366
-------
--------
--------
--------
Carrying amount
At 30 September 2024
654
22,359
648
23,661
-------
--------
--------
--------
At 30 September 2023
703
29,812
4,038
34,553
-------
--------
--------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
20,973
39,990
Other debtors
2,764
4,176
--------
--------
23,737
44,166
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
14,172
35,033
Other creditors
43,132
54,908
--------
--------
57,304
89,941
--------
--------