Registered number
04550192
Vaughan & Associates Limited
Filleted Accounts
31 March 2024
Vaughan & Associates Limited
Registered number: 04550192
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 2,853 1,974
Investments 5 176,412 66,519
179,265 68,493
Current assets
Debtors 6 20,688 12,103
Cash at bank and in hand 101,140 168,100
121,828 180,203
Creditors: amounts falling due within one year 8 (70,246) (64,562)
Net current assets 51,582 115,641
Net assets 230,847 184,134
Capital and reserves
Called up share capital 201 201
Profit and loss account 230,646 183,933
Shareholders' funds 230,847 184,134
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
G R Vaughan
Director
Approved by the board on 26 December 2024
Vaughan & Associates Limited
Notes to the Accounts
for the year ended 31 March 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 7,500
At 31 March 2024 7,500
Amortisation
At 1 April 2023 7,500
At 31 March 2024 7,500
Net book value
At 31 March 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 3,771
Additions 2,041
At 31 March 2024 5,812
Depreciation
At 1 April 2023 1,797
Charge for the year 1,162
At 31 March 2024 2,959
Net book value
At 31 March 2024 2,853
At 31 March 2023 1,974
5 Investments
Other
investments
£
Cost
At 1 April 2023 66,519
Additions 75,000
Revaluation 34,893
At 31 March 2024 176,412
6 Debtors 2024 2023
£ £
Trade debtors 18,798 10,213
Rent deposit 1,890 1,890
20,688 12,103
7 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 34,893 1,519
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,810 2,162
Director's loan - GCV 79 3,336
Director's loan - GRV 1,856 5,805
Taxation and social security costs 66,501 53,259
70,246 64,562
9 Controlling party
The majority of the ordinary shares are owned by G C Vaughan and G R Vaughan.
10 Other information
Vaughan & Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Broadlands House
3 Romsey Close
Orpington
Kent
BR6 7WE
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