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Registered number: 06554085
Peter Handforth Associates Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Brooks Accountants
Chartered Certified Accountants
Bank House
9 Dicconson Terrace
Lytham St. Annes
FY8 5JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06554085
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,187 1,515
1,187 1,515
CURRENT ASSETS
Debtors 6 23,061 40,882
Cash at bank and in hand 89,537 79,627
112,598 120,509
Creditors: Amounts Falling Due Within One Year 7 (32,396 ) (37,872 )
NET CURRENT ASSETS (LIABILITIES) 80,202 82,637
TOTAL ASSETS LESS CURRENT LIABILITIES 81,389 84,152
PROVISIONS FOR LIABILITIES
Deferred Taxation (226 ) (288 )
NET ASSETS 81,163 83,864
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 81,063 83,764
SHAREHOLDERS' FUNDS 81,163 83,864
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Peter Handforth
Director
25 January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Peter Handforth Associates Limited Registered number 06554085 is a limited by shares company incorporated in England & Wales. The Registered Office is 8 Breck Close, Poulton le Fylde, Lancs, FY6 7HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 15% Reducing Balance
Computer Equipment 25% Reducing Balance
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 9,000
As at 30 June 2024 9,000
Amortisation
As at 1 July 2023 9,000
As at 30 June 2024 9,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 2,274 6,089 8,363
As at 30 June 2024 2,274 6,089 8,363
Depreciation
As at 1 July 2023 1,767 5,081 6,848
Provided during the period 76 252 328
As at 30 June 2024 1,843 5,333 7,176
Net Book Value
As at 30 June 2024 431 756 1,187
As at 1 July 2023 507 1,008 1,515
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,061 40,882
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 13,490 13,126
VAT 11,951 12,548
Other creditors 1,423 841
Accruals and deferred income 2,472 2,472
Director's loan account 3,060 8,885
32,396 37,872
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 54,000 30,000
10. Ultimate Controlling Party
The company's ultimate controlling party is Peter Handforth by virtue of his ownership of 100% of the issued share capital in the company.
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