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ACCOUNTING FORWARD LTD

Registered Number
14208575
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

ACCOUNTING FORWARD LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

DUALE, Rebecca Lauren

Registered Address

2 Fairway
Costessey
Norwich
NR8 5EU

Registered Number

14208575 (England and Wales)
ACCOUNTING FORWARD LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,080630
1,080630
Current assets
Debtors3,7452,548
Cash at bank and on hand4,831470
8,5763,018
Creditors amounts falling due within one year4(4,203)(2,304)
Net current assets (liabilities)4,373714
Total assets less current liabilities5,4531,344
Net assets5,4531,344
Capital and reserves
Called up share capital11
Profit and loss account5,4521,343
Shareholders' funds5,4531,344
The financial statements were approved and authorised for issue by the Director on 13 April 2025, and are signed on its behalf by:
DUALE, Rebecca Lauren
Director
Registered Company No. 14208575
ACCOUNTING FORWARD LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 August 23271549820
Additions165649814
At 31 July 244361,1981,634
Depreciation and impairment
At 01 August 2333157190
Charge for year66298364
At 31 July 2499455554
Net book value
At 31 July 243377431,080
At 31 July 23238392630
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables225328
Amounts owed to related parties3481,617
Taxation and social security3,630359
Total4,2032,304
5.Related party transactions
At the Balance Sheet date the company owed the Director Rebecca Duale £348 (2023: £1,617)