Contents of the Financial Statements
for the Period Ended 31 August 2024
Balance sheet
As at
31 August 2024
|
Notes
|
13 months to 31 August 2024
|
|
|
£
|
Current assets |
Debtors: |
3 |
14,083
|
Cash at bank and in hand: |
|
22,582
|
Total current assets: |
|
36,665
|
Creditors: amounts falling due within one year: |
4 |
(32,318)
|
Net current assets (liabilities): |
|
4,347
|
Total assets less current liabilities: |
|
4,347
|
Total net assets (liabilities): |
|
4,347
|
Capital and reserves |
Called up share capital: |
|
1
|
Profit and loss account: |
|
4,346
|
Shareholders funds: |
|
4,347
|
The notes form part of these financial statements
Balance sheet statements
For the year ending 31 August 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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on
13 January 2025
and signed on behalf of the board by:
Name:
Diana Richards
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 31 August 2024
1. Accounting policies
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.Other accounting policies
Interest income
Interest income is recognised in profit or loss using the effective interest method.
Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Notes to the Financial Statements
for the Period Ended 31 August 2024
2. Employees
|
13 months to 31 August 2024 |
Average number of employees during the period |
1
|
General information
DR Advisory Ltd is a private company limited by shares and is incorporated in England and Wales. The company's registered number is 15075622 and the registered office address is at Brambling, Weybourne Road, Farnham, Surrey, GU9 9EX.
Judgements in applying accounting policies and key sources of estimation uncertainty
No significant judgements have had to be made by the director in preparing these financial statements.
Notes to the Financial Statements
for the Period Ended 31 August 2024
3. Debtors
| 13 months to 31 August 2024 |
| £ |
Debtors due after more than one year: |
0
|
Trade debtors: £13,913
Prepayments and accrued income: £170
Notes to the Financial Statements
for the Period Ended 31 August 2024
4. Creditors: amounts falling due within one year note
Corporation tax: £24,740
Other taxation and social security: £7,578
Notes to the Financial Statements
for the Period Ended 31 August 2024
5. Loans to directors
Name of director receiving advance or credit: |
Diana Richards
|
Description of the loan: |
The director's loan account represents the advance to the director and expenditure paid by the director on behalf of the company.
|
£ |
Advances or credits made: |
|
14,401
|
Advances or credits repaid: |
|
14,401 |
Balance at 31 August 2024 |
|
0
|
The loan was interest free, unsecured and repayable on demand.