Registered number
12937481
Touchstone Advisory Limited
Filleted Accounts
31 March 2024
Touchstone Advisory Limited
Registered number: 12937481
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 57,317 54,396
Current assets
Debtors 4 550,800 354,558
Cash at bank and in hand 156,304 670,385
707,104 1,024,943
Creditors: amounts falling due within one year 5 (420,774) (237,811)
Net current assets 286,330 787,132
Net assets 343,647 841,528
Capital and reserves
Called up share capital 1 1
Profit and loss account 343,646 841,527
Shareholder's funds 343,647 841,528
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Krekar Kawani
Director
Approved by the board on 18 March 2025
Touchstone Advisory Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery, and motor vehicles 20% reducing balance basis
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 22,540 48,492 71,032
Additions 17,250 - 17,250
At 31 March 2024 39,790 48,492 88,282
Depreciation
At 1 April 2023 6,938 9,698 16,636
Charge for the year 6,570 7,759 14,329
At 31 March 2024 13,508 17,457 30,965
Net book value
At 31 March 2024 26,282 31,035 57,317
At 31 March 2023 15,602 38,794 54,396
4 Debtors 2024 2023
£ £
Trade debtors 550,800 330,000
Other debtors - 24,558
550,800 354,558
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 390,547 235,911
Other creditors 30,227 1,900
420,774 237,811
6 Other information
Touchstone Advisory Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2a, Blackthorn House
St Pauls Square
Birmingham
England
B3 1RL
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