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Registered number: 07979534
West Kent Accounting Services Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of West Kent Accounting Services Limited For The Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of West Kent Accounting Services Limited For The Year Ended 30 April 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of West Kent Accounting Services Limited , as a body, in accordance with the terms of our engagement letter dated 01 May 2019. Our work has been undertaken solely to prepare for your approval the accounts of West Kent Accounting Services Limited and state those matters that we have agreed to state to the directors of West Kent Accounting Services Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West Kent Accounting Services Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that West Kent Accounting Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of West Kent Accounting Services Limited . You consider that West Kent Accounting Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of West Kent Accounting Services Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
21/02/2025
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Page 1
Page 2
Balance Sheet
Registered number: 07979534
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,847 48,872
Investments 5 116,025 102,850
149,872 151,722
CURRENT ASSETS
Stocks 6 12,700 12,700
Debtors 7 234,644 187,055
Cash at bank and in hand 57,048 67,445
304,392 267,200
Creditors: Amounts Falling Due Within One Year 8 (199,337 ) (183,017 )
NET CURRENT ASSETS (LIABILITIES) 105,055 84,183
TOTAL ASSETS LESS CURRENT LIABILITIES 254,927 235,905
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,530 ) (5,872 )
NET ASSETS 251,397 230,033
CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Profit and Loss Account 151,397 130,033
SHAREHOLDERS' FUNDS 251,397 230,033
Page 2
Page 3
For the 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.
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
Gary Richards
Director
21/02/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
West Kent Accounting Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07979534 . The registered office is 714 London Road, Larkfield, KENT, ME20 6BL.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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. Goodwill has been amortised to profit and loss account over its economic life of 12 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:
Leasehold 10 Years Straight Line
Plant & Machinery 4 Years Straight Line
Motor Vehicles 5 Years Straight Line
Fixtures & Fittings 4 Years Straight Line
Computer Equipment 3 Years Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and expected billing value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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: 13 (2023: 13)
13 13
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 31,021 65,801 18,036 19,453 134,311
Additions - - 2,691 2,737 5,428
Disposals - - - (4,000 ) (4,000 )
As at 30 April 2024 31,021 65,801 20,727 18,190 135,739
Depreciation
As at 1 May 2023 23,795 26,680 18,036 16,928 85,439
Provided during the period 3,100 13,161 672 3,520 20,453
Disposals - - - (4,000 ) (4,000 )
As at 30 April 2024 26,895 39,841 18,708 16,448 101,892
...CONTINUED
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Net Book Value
As at 30 April 2024 4,126 25,960 2,019 1,742 33,847
As at 1 May 2023 7,226 39,121 - 2,525 48,872
5. Investments
Unlisted
£
Cost
As at 1 May 2023 102,850
Revaluations 13,175
As at 30 April 2024 116,025
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 116,025
As at 1 May 2023 102,850
West Kent Accounting Services Limited owns 1.4% of TaxAssist Direct Group Limited - Franchisor. The Directors also invested personally and own 3.8%. There is an internal market for the shares and latest trading is higher than the formal valuation.
The valuation in these accounts is based on a professional valuation of the company commissioned by 
TaxAssist Direct Group Limited from Steven Pye & Co Ltd.  
The TaxAssist Accountants franchise has 411 shops in the UK serving 82,000 clients (2023: 80,000). During the year the franchise launched a mortgage advice and finanical advisor service.
Internationally, there are 23 locations in the Republic of Ireland serving 5,700 clients (2023: 23 and 5,700).  The franchise also has brand distribution agreements in the USA, Australia and Canda.
6. Stocks
2024 2023
£ £
Work in progress 12,700 12,700
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 207,794 160,618
Prepayments and accrued income 11,850 11,437
219,644 172,055
Due after more than one year
Other debtors 15,000 15,000
15,000 15,000
234,644 187,055
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,386 8,834
Corporation tax 24,767 19,632
Other taxes and social security 5,413 228
VAT 27,138 50,084
Client Prepayments 62,442 77,780
Client Holding Ac Owed (52 ) 232
Accruals and deferred income 2,200 2,200
Directors' loan accounts 76,043 24,027
199,337 183,017
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
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