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Registration number: 09391299

Answered Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

Brebners
Chartered Accountants
Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Answered Limited

Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,350

-

Tangible assets

5

2,735

1,160

 

7,085

1,160

Current assets

 

Debtors

6

12,153

2,206

Cash at bank and in hand

 

55,734

20,417

 

67,887

22,623

Creditors: Amounts falling due within one year

7

(47,046)

(12,839)

Net current assets

 

20,841

9,784

Net assets

 

27,926

10,944

Capital and reserves

 

Called up share capital

101

101

Share premium reserve

350

350

Capital redemption reserve

304

304

Retained earnings

27,171

10,189

Shareholders' funds

 

27,926

10,944

For the financial year ending 31 July 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 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'.

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.

 

Answered Limited

Statement of Financial Position as at 31 July 2024

Approved and authorised by the Board on 16 March 2025 and signed on its behalf by:
 

.........................................

P I Harland

Director

Company registration number: 09391299

 

Answered Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of publishing study manuals.

2

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 31 July 2024 and had net assets of £27,926 at that date including cash at bank of £55,734.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue 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 study manuals in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from study manuals based upon the date of publication when the amount of income can be reliably measured.

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.

 

Answered Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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

Furniture, fittings and equipment

20% Straight line

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:

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year was 2 (2023 - 1).

 

Answered Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

4,350

4,350

At 31 July 2024

4,350

4,350

Amortisation

Carrying amount

At 31 July 2024

4,350

4,350

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

1,265

1,265

Additions

2,088

2,088

At 31 July 2024

3,353

3,353

Depreciation

At 1 August 2023

105

105

Charge for the year

513

513

At 31 July 2024

618

618

Carrying amount

At 31 July 2024

2,735

2,735

At 31 July 2023

1,160

1,160

6

Debtors

2024
£

2023
£

Other debtors

12,153

2,206

12,153

2,206

 

Answered Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

1,826

5,439

Taxation and social security

37,200

5,068

Accruals and deferred income

899

2,218

Other creditors

7,121

114

47,046

12,839