Registration number:
Etchingham Advisors Ltd
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Etchingham Advisors Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Etchingham Advisors Ltd
Company Information
Director |
Mr J Davison |
Registered office |
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Accountants |
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Etchingham Advisors Ltd
Statement of Financial Position as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
1,096,299 |
- |
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Current assets |
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Debtors |
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Investments |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
897,000 |
779,723 |
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Shareholders' funds |
897,001 |
779,724 |
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.
Director's responsibilities:
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The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Etchingham Advisors Ltd
Statement of Financial Position as at 30 April 2024
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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Mr J Davison
Director
Company registration number: 13342696
Etchingham Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of the provision of management consultancy services.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
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.
Going concern
The company made a profit for the year ended 30 April 2024 and has net assets of £897,001 including cash at bank of £414,772 at that date. The company continues to pay its creditors as they fall due and is not reliant upon any other funding.
The director considers that the resources that the company has, together with the current actions being taken, the company is well positioned to continue in operation.
On the basis of the above, and after making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.
The company recognises revenue from management consultancy services in the period to which the services relate.
Etchingham Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge 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.
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Office equipment |
33% straight line |
Fixtures and fittings |
20% straight line |
Motor vehicles |
The residual value of motor vehicles is considered sufficient that no depreciation arises |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Current asset investments are initially measured at acquisition cost and subsequently measured at fair value with
changes in fair value being recognised in profit or loss.
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.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Etchingham Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Office Equipment |
Furniture, Fixtures and Equipment |
Motor Vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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- |
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Additions |
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Transfers from current asset investments |
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- |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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- |
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Charge for the year |
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- |
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At 30 April 2024 |
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- |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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- |
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Other financial assets |
Unlisted investments |
Total |
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Non-current financial assets |
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Cost |
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Transfers from current asset investments |
1,096,299 |
1,096,299 |
At 30 April 2024 |
1,096,299 |
1,096,299 |
Carrying amount |
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At 30 April 2024 |
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1,096,299 |
Etchingham Advisors Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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Current asset investments |
2024 |
2023 |
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Other investments |
- |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Transactions with directors |
At 30 April 2024 an amount of £81,573 (2023: £Nil) was due from the director. Interest of £212 (2023: £Nil) has been charged by the company at 2.25% pa.