2024-01-012024-12-312024-12-31false10511590GUILDFORD ACCOUNTING SERVICES 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GUILDFORD ACCOUNTING SERVICES LIMITED

Registered Number
10511590
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

GUILDFORD ACCOUNTING SERVICES LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

CORNELL, Tatyana

Registered Address

15 Little Street
Guildford
GU2 9QG

Registered Number

10511590 (England and Wales)
GUILDFORD ACCOUNTING SERVICES LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,5303,688
2,5303,688
Current assets
Debtors21,00019,500
Cash at bank and on hand12,99515,648
33,99535,148
Creditors amounts falling due within one year4(24,343)(14,620)
Net current assets (liabilities)9,65220,528
Total assets less current liabilities12,18224,216
Creditors amounts falling due after one year5(11,328)(5,969)
Net assets85418,247
Capital and reserves
Called up share capital100100
Profit and loss account75418,147
Shareholders' funds85418,247
The financial statements were approved and authorised for issue by the Director on 16 February 2025, and are signed on its behalf by:
CORNELL, Tatyana
Director
Registered Company No. 10511590
GUILDFORD ACCOUNTING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20242023
Average number of employees during the year23
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 24-5,5385,538
At 31 December 24-5,5385,538
Depreciation and impairment
At 01 January 24-1,8501,850
Charge for year1,158-1,158
At 31 December 241,1581,8503,008
Net book value
At 31 December 24(1,158)3,6882,530
At 31 December 23-3,6883,688
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,35210,940
Bank borrowings and overdrafts15,991482
Taxation and social security-3,198
Total24,34314,620
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts11,3285,969
Total11,3285,969