Registered number
13194316
James Davidson Associates Ltd
Filleted Accounts
29 February 2024
James Davidson Associates Ltd
Registered number: 13194316
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 12,000 18,000
Current assets
Debtors 4 - 1,141
Cash at bank and in hand 32,055 24,518
32,055 25,659
Creditors: amounts falling due within one year 5 (3,420) -
Net current assets 28,635 25,659
Total assets less current liabilities 40,635 43,659
Creditors: amounts falling due after more than one year 6 (36,543) (47,150)
Net assets/(liabilities) 4,092 (3,491)
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,091 (3,492)
Shareholder's funds 4,092 (3,491)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J H Davidson
Director
Approved by the board on 31 July 2024
James Davidson Associates Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 30,000
At 29 February 2024 30,000
Amortisation
At 1 March 2023 12,000
Provided during the year 6,000
At 29 February 2024 18,000
Net book value
At 29 February 2024 12,000
At 28 February 2023 18,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2024 2023
£ £
Other debtors - 1,141
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,420 -
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 36,543 47,150
7 Controlling party
The company is controlled by the director.
8 Other information
James Davidson Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Priors Road
Cheltenham
Glos
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