PATTON-FILSON ADVISORY LIMITED

Company Registration Number:
12101341 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

PATTON-FILSON ADVISORY LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

PATTON-FILSON ADVISORY LIMITED

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

IT Consultancy



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

D Jamieson
D Reed


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
27 December 2024

And signed on behalf of the board by:
Name: D Reed
Status: Director

PATTON-FILSON ADVISORY LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,983 583
Total fixed assets: 1,983 583
Current assets
Debtors: 4 52,274 66,020
Cash at bank and in hand: 45,679 39,703
Total current assets: 97,953 105,723
Creditors: amounts falling due within one year: 5 ( 27,368 ) ( 30,546 )
Net current assets (liabilities): 70,585 75,177
Total assets less current liabilities: 72,568 75,760
Provision for liabilities: ( 800 ) ( 423 )
Total net assets (liabilities): 71,768 75,337
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 71,668 75,237
Total Shareholders' funds: 71,768 75,337

The notes form part of these financial statements

PATTON-FILSON ADVISORY LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 27 December 2024
and signed on behalf of the board by:

Name: D Reed
Status: Director

The notes form part of these financial statements

PATTON-FILSON ADVISORY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: -the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; -the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; -the amount of revenue can be measured reliably; -it is probable that the economic benefits associated with the transaction will flow to the Company; and -the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 33% Straight line

    Intangible fixed assets amortisation policy

    Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

PATTON-FILSON ADVISORY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

PATTON-FILSON ADVISORY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 4,977 4,977
Additions 2,645 2,645
Disposals
Revaluations
Transfers
At 31 March 2024 7,622 7,622
Depreciation
At 1 April 2023 4,394 4,394
Charge for year 1,245 1,245
On disposals
Other adjustments
At 31 March 2024 5,639 5,639
Net book value
At 31 March 2024 1,983 1,983
At 31 March 2023 583 583

PATTON-FILSON ADVISORY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 52,274 13,470
Other debtors 52,550
Total 52,274 66,020

PATTON-FILSON ADVISORY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 8,721 10,092
Taxation and social security 17,830 19,795
Other creditors 817 659
Total 27,368 30,546