Registered number
08716561
Adrian Firth Ltd
Filleted Accounts
31 March 2024
Adrian Firth Ltd
Registered number: 08716561
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 29,386 -
Tangible assets 4 9,392 7,172
38,778 7,172
Current assets
Debtors 5 20,103 17,759
Cash at bank and in hand 180,385 197,978
200,488 215,737
Creditors: amounts falling due within one year 6 (125,588) (111,642)
Net current assets 74,900 104,095
Net assets 113,678 111,267
Capital and reserves
Called up share capital 100 100
Profit and loss account 113,578 111,167
Shareholder's funds 113,678 111,267
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
A Firth
Director
Approved by the board on 27 December 2024
Adrian Firth Ltd
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:
Office equipment 15% reducing balance
Computer equipment 25% reducing balance
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.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
Additions 32,192
At 31 March 2024 32,192
Amortisation
Provided during the year 2,806
At 31 March 2024 2,806
Net book value
At 31 March 2024 29,386
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment Computer equipment Total
£ £ £
Cost
At 1 April 2023 1,185 19,403 20,588
Additions 1,310 3,197 4,507
At 31 March 2024 2,495 22,600 25,095
Depreciation
At 1 April 2023 879 12,537 13,416
Charge for the year 72 2,215 2,287
At 31 March 2024 951 14,752 15,703
Net book value
At 31 March 2024 1,544 7,848 9,392
At 31 March 2023 306 6,866 7,172
5 Debtors 2024 2023
£ £
Trade debtors 19,979 17,759
Other debtors 124 -
20,103 17,759
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 24,834 16,691
Other creditors 100,754 94,951
125,588 111,642
7 Other information
Adrian Firth Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Holly Close
Horringer
Bury St Edmunds
IP29 5SZ
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