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Registration number: 13369057

Erdingsworth Business & Tax Advisors Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Erdingsworth Business & Tax Advisors Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Erdingsworth Business & Tax Advisors Ltd

Company Information

Directors

Mr T Hamilton

Mr Z Mustafa

Registered office

Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

 

Erdingsworth Business & Tax Advisors Ltd

(Registration number: 13369057)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

987

1,469

Current assets

 

Debtors

5

7,833

12,855

Cash at bank and in hand

 

1,309

6,572

 

9,142

19,427

Creditors: Amounts falling due within one year

6

(34,886)

(25,018)

Net current liabilities

 

(25,744)

(5,591)

Total assets less current liabilities

 

(24,757)

(4,122)

Creditors: Amounts falling due after more than one year

6

(28,816)

(38,345)

Net liabilities

 

(53,573)

(42,467)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(53,673)

(42,567)

Shareholders' deficit

 

(53,573)

(42,467)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 December 2024 and signed on its behalf by:
 

 

Erdingsworth Business & Tax Advisors Ltd

(Registration number: 13369057)
Balance Sheet as at 30 April 2024 (continued)

.........................................
Mr T Hamilton
Director

.........................................
Mr Z Mustafa
Director

 

Erdingsworth Business & Tax Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

These financial statements were authorised for issue by the Board on 6 December 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 adverse position at the year end of £53,573 (2023: £42,467). The other creditors includes £11,897 (2023: £16,889) which relates to loans received from the directors. The directors do not expect repayment until such time as the company has sufficient funds available to make the repayments without adversely affecting the company's ability to continue to trade. For this reason the directors believe that the company will continue to trade for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

 

Erdingsworth Business & Tax Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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

Office equipment

25% 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Erdingsworth Business & Tax Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

1,680

1,680

Additions

158

158

Disposals

(280)

(280)

At 30 April 2024

1,558

1,558

Depreciation

At 1 May 2023

211

211

Charge for the year

360

360

At 30 April 2024

571

571

Carrying amount

At 30 April 2024

987

987

At 30 April 2023

1,469

1,469

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

4,510

1,938

Amounts owed by related parties

9

-

4,198

Prepayments

 

1,811

6,003

Other debtors

 

1,512

716

   

7,833

12,855

6

Creditors

Creditors: amounts falling due within one year

 

Erdingsworth Business & Tax Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

19,731

8,619

Trade creditors

 

7,659

11,778

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

2,742

-

Taxation and social security

 

2,213

536

Accruals and deferred income

 

137

481

Other creditors

 

2,404

3,604

 

34,886

25,018

Creditors include loans of £13,893 (2023: £8,619) which are personally guaranteed by the directors.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

28,816

38,345

Creditors include loans of £16,920 (2023: £21,456) which are personally guaranteed by the directors.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Erdingsworth Business & Tax Advisors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

16,920

21,456

Other borrowings

11,896

16,889

28,816

38,345

Current loans and borrowings

2024
£

2023
£

Bank borrowings

13,893

8,619

Bank overdrafts

5,838

-

19,731

8,619

9

Ultimate parent company

10

Parent and ultimate parent undertaking

The ultimate parent is Erdingsworth Group Limited, incorporated in England.