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Registration number: 09435014

E&A Accountancy Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

E&A Accountancy Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

E&A Accountancy Services Ltd

Company Information

Directors

Mr Satraj Suman ACMA

Mrs Harminder Suman

Registered office

21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

Accountants

Mr Satraj Suman ACMA 21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

 

E&A Accountancy Services Ltd

(Registration number: 09435014)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

27,062

34,265

Tangible assets

5

2,690

3,213

 

29,752

37,478

Current assets

 

Cash at bank and in hand

 

10,985

9,946

Creditors: Amounts falling due within one year

6

(3,183)

(4,567)

Net current assets

 

7,802

5,379

Total assets less current liabilities

 

37,554

42,857

Creditors: Amounts falling due after more than one year

6

(15,000)

(6,127)

Net assets

 

22,554

36,730

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

22,454

36,630

Shareholders' funds

 

22,554

36,730

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2024 and signed on its behalf by:
 

.........................................
Mr Satraj Suman ACMA
Director

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS
England

These financial statements were authorised for issue by the Board on 4 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tools and Equipment

Reducing Balance 20%

Furniture and Fittings

Reducing Balance 20%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line 0%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

34,266

34,266

Disposals

(7,204)

(7,204)

At 30 April 2024

27,062

27,062

Amortisation

Carrying amount

At 30 April 2024

27,062

27,062

At 30 April 2023

34,265

34,265

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

6,463

6,463

Additions

149

149

At 30 April 2024

6,612

6,612

Depreciation

At 1 May 2023

3,250

3,250

Charge for the year

672

672

At 30 April 2024

3,922

3,922

Carrying amount

At 30 April 2024

2,690

2,690

At 30 April 2023

3,213

3,213

6

Creditors

Creditors: amounts falling due within one year

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Due within one year

Taxation and social security

3,183

4,566

Other creditors

-

1

3,183

4,567

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

15,000

6,127

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Shares A of £1 each

76

76

76

76

Shares B of £1 each

24

24

24

24

100

100

100

100

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £Nil per each Shares A

-

20,653

Final dividend of £Nil per each Shares B

-

20,653

-

41,306

9

Related party transactions

 

E&A Accountancy Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,633

23,780