Vaughan Smith Design Limited 10892441 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is management of real estate on a fee or contract basis. Digita Accounts Production Advanced 6.30.9574.0 true true 10892441 2023-09-01 2024-08-31 10892441 2024-08-31 10892441 bus:OrdinaryShareClass1 2024-08-31 10892441 bus:OrdinaryShareClass2 2024-08-31 10892441 core:CurrentFinancialInstruments 2024-08-31 10892441 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10892441 core:MotorVehicles 2024-08-31 10892441 bus:SmallEntities 2023-09-01 2024-08-31 10892441 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10892441 bus:FilletedAccounts 2023-09-01 2024-08-31 10892441 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10892441 bus:RegisteredOffice 2023-09-01 2024-08-31 10892441 bus:Director3 2023-09-01 2024-08-31 10892441 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 10892441 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 10892441 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10892441 core:MotorVehicles 2023-09-01 2024-08-31 10892441 countries:EnglandWales 2023-09-01 2024-08-31 10892441 2023-08-31 10892441 core:MotorVehicles 2023-08-31 10892441 2022-09-01 2023-08-31 10892441 2023-08-31 10892441 bus:OrdinaryShareClass1 2023-08-31 10892441 bus:OrdinaryShareClass2 2023-08-31 10892441 core:CurrentFinancialInstruments 2023-08-31 10892441 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10892441 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10892441

Vaughan Smith Design Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Vaughan Smith Design Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Vaughan Smith Design Limited

Company Information

Director

Mrs KM Smith

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Vaughan Smith Design Limited

(Registration number: 10892441)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,373

5,350

Current assets

 

Debtors

5

902

662

Cash at bank and in hand

 

1,537

6,548

 

2,439

7,210

Creditors: Amounts falling due within one year

6

(39,259)

(39,549)

Net current liabilities

 

(36,820)

(32,339)

Net liabilities

 

(2,447)

(26,989)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(2,547)

(27,089)

Shareholders' deficit

 

(2,447)

(26,989)

For the financial year ending 31 August 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 her 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.

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 23 November 2024
 

.........................................
Mrs KM Smith
Director

 

Vaughan Smith Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the director on 23 November 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 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 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 company's balance sheet shows an insolvent position at the balance sheet date. The director has arranged adequate funding to finance the company's continuing activities and to enable it to pay its debts as and when they fall due for payment for at least a year from the date of signing of the company's accounts. Accordingly, the director considers that the company is a going concern and that the financial statements have been properly prepared on that 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.

 

Vaughan Smith Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

5 years straight line

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Vaughan Smith Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

32,096

32,096

Additions

37,498

37,498

Disposals

(32,096)

(32,096)

At 31 August 2024

37,498

37,498

Depreciation

At 1 September 2023

26,746

26,746

Charge for the year

3,125

3,125

Eliminated on disposal

(26,746)

(26,746)

At 31 August 2024

3,125

3,125

Carrying amount

At 31 August 2024

34,373

34,373

At 31 August 2023

5,350

5,350

5

Debtors

Current

2024
£

2023
£

Prepayments

902

662

 

902

662

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

850

850

Other creditors

38,409

38,699

39,259

39,549

 

Vaughan Smith Design Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Class A of £1 each of £1 each

75

75

75

75

Ordinary Class B of £1 each of £1 each

25

25

25

25

100

100

100

100