Company registration number 05218405 (England and Wales)
SUSAN THOMAS & ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SUSAN THOMAS & ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SUSAN THOMAS & ASSOCIATES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
2,414
1,593
Current assets
Debtors
6
5,726
4,030
Cash at bank and in hand
133,218
133,843
138,944
137,873
Creditors: amounts falling due within one year
7
(13,039)
(17,350)
Net current assets
125,905
120,523
Net assets
128,319
122,116
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
128,318
122,115
Total equity
128,319
122,116
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 April 2025
Susan Thomas
Director
Company registration number 05218405 (England and Wales)
SUSAN THOMAS & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
SUSAN THOMAS & ASSOCIATES LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 18 Melbourne Grove, London, SE22 8RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its useful life and is amortised on a systematic basis over its expected life, which is 5 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
50% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Bicycle
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
SUSAN THOMAS & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 1
2024
2023
Number
Number
Total
1
1
4
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
7,000
Amortisation and impairment
At 1 September 2023 and 31 August 2024
7,000
Carrying amount
At 31 August 2024
At 31 August 2023
SUSAN THOMAS & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
20,630
Additions
2,048
At 31 August 2024
22,678
Depreciation and impairment
At 1 September 2023
19,037
Depreciation charged in the year
1,227
At 31 August 2024
20,264
Carrying amount
At 31 August 2024
2,414
At 31 August 2023
1,593
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,726
4,030
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,309
4,594
Other taxation and social security
291
291
Other creditors
6,098
11,012
Accruals and deferred income
1,341
1,453
13,039
17,350
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
SUSAN THOMAS & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
9
Director's transactions
The director operates a loan account with the company on an interest free basis. At the beginning of the year the director was owed £11,012 by the company. Aggregate advances of £30,835 were made to the director during the year on account of a dividend of £17,000 and expenses of £8,921 incurred on behalf of the company and the balance owed. At the year end the director was owed £6,098 by the company.