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Registered number: 9821860
Aalgaard Renshaw Business Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors Mrs Carolyn May
Ms Jacquelyn Peskett
Company Number 9821860
Registered Office Advent House
Victoria
St Austell
Cornwall
PL26 8LG
Accountants PJM Accountancy
Chartered Accountants
Grovetown Barn
Yeolmbridge
Launceston
Cornwall
PL15 8NH
Page 1
Page 2
Balance Sheet
Registered number: 9821860
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,769 3,357
4,769 3,357
CURRENT ASSETS
Debtors 5 2,335 2,158
Cash at bank and in hand 13,600 11,820
15,935 13,978
Creditors: Amounts Falling Due Within One Year 6 (4,991 ) (4,880 )
NET CURRENT ASSETS (LIABILITIES) 10,944 9,098
TOTAL ASSETS LESS CURRENT LIABILITIES 15,713 12,455
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (906 ) (638 )
NET ASSETS 14,807 11,817
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 14,806 11,816
SHAREHOLDERS' FUNDS 14,807 11,817
Page 2
Page 3
For the year ending 31 October 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Carolyn May
Director
7 February 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Aalgaard Renshaw Business Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 9821860 . The registered office is Advent House, Victoria, St Austell, Cornwall, PL26 8LG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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, 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 4
Page 5
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2023 8,382
Additions 2,753
Disposals (1,188 )
As at 31 October 2024 9,947
Depreciation
As at 1 November 2023 5,025
Provided during the period 1,232
Disposals (1,079 )
As at 31 October 2024 5,178
Net Book Value
As at 31 October 2024 4,769
As at 1 November 2023 3,357
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 840 180
Prepayments and accrued income 979 972
Other debtors 516 1,006
2,335 2,158
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 559 536
Accruals and deferred income 928 840
Directors' loan accounts 3,504 3,504
4,991 4,880
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 906 638
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5