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REGISTERED NUMBER: 04808538 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MICHAEL BEARDSALL ASSOCIATES LIMITED

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MICHAEL BEARDSALL ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M G Powell
M J Humphrey
D B Stanforth





REGISTERED OFFICE: 5/7 Berry Road
Newquay
Cornwall
TR7 1AD





REGISTERED NUMBER: 04808538 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 8,000
Tangible assets 5 18,221 19,956
18,221 27,956

CURRENT ASSETS
Stocks 247 235
Debtors 6 642,215 590,895
Cash at bank and in hand 302,450 261,217
944,912 852,347
CREDITORS
Amounts falling due within one year 7 244,251 210,131
NET CURRENT ASSETS 700,661 642,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

718,882

670,172

CREDITORS
Amounts falling due after more than one
year

8

-

(5,718

)

PROVISIONS FOR LIABILITIES (4,555 ) (1,424 )
NET ASSETS 714,327 663,030

CAPITAL AND RESERVES
Called up share capital 129 129
Share premium 79,950 79,950
Capital redemption reserve 21 21
Retained earnings 634,227 582,930
SHAREHOLDERS' FUNDS 714,327 663,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:




M G Powell - Director M J Humphrey - Director




D B Stanforth - Director


MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Michael Beardsall Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - According to the period of the lease
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Computer equipment - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 240,000
AMORTISATION
At 1 April 2023 232,000
Amortisation for year 8,000
At 31 March 2024 240,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 8,000

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,000 71,392 145,220 217,612
Additions - - 9,419 9,419
At 31 March 2024 1,000 71,392 154,639 227,031
DEPRECIATION
At 1 April 2023 1,000 62,250 134,406 197,656
Charge for year - 1,403 9,751 11,154
At 31 March 2024 1,000 63,653 144,157 208,810
NET BOOK VALUE
At 31 March 2024 - 7,739 10,482 18,221
At 31 March 2023 - 9,142 10,814 19,956

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 285,384 297,228
Directors' loan accounts 253,234 213,660
Tax 82,529 76,382
Prepayments 21,068 3,625
642,215 590,895

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 33,188
Trade creditors 3,877 1,324
Tax 123,265 118,880
Social security and other taxes 105,419 53,351
Other creditors 6,541 -
Accrued expenses 5,149 3,388
244,251 210,131

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years - 5,718

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 36,748 -
Between one and five years 23,689 -
60,437 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M J Humphrey
Balance outstanding at start of year 71,149 70,971
Amounts advanced 13,190 8,928
Amounts repaid - (8,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,339 71,149

MICHAEL BEARDSALL ASSOCIATES LIMITED (REGISTERED NUMBER: 04808538)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D B Stanforth
Balance outstanding at start of year 71,449 71,004
Amounts advanced 13,196 13,795
Amounts repaid - (13,350 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,645 71,449

M G Powell
Balance outstanding at start of year 71,062 70,886
Amounts advanced 13,188 8,926
Amounts repaid - (8,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 84,250 71,062

Interest has been charged at the HM Revenue and Customs approved rate on the overdrawn directors' current accounts, along with S455 tax being paid.

11. ULTIMATE CONTROLLING PARTY

During the year the company was controlled by the directors, by virtue of the fact that, between them and their immediate family, they owned 100% of the company's Ordinary issued share capital.