One Accounting Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC314813 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2024

for

One Accounting Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C N Thomas

N Faulds

REGISTERED OFFICE:

Drumsheugh Toll

2 Belford Road

Edinburgh

EH4 3BL

REGISTERED NUMBER:

SC314813 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

FIXED ASSETS

Tangible assets

4

2,815

6,080

CURRENT ASSETS

Debtors

5

219,542

169,928

Cash at bank and in hand

152,450

169,738

371,992

339,666

CREDITORS

Amounts falling due within one year

6

187,231

167,603

NET CURRENT ASSETS

184,761

172,063

TOTAL ASSETS LESS CURRENT
LIABILITIES

187,576

178,143

PROVISIONS FOR LIABILITIES

704

1,520

NET ASSETS

186,872

176,623

CAPITAL AND RESERVES

Called up share capital

160

Retained earnings

186,712

176,463

SHAREHOLDERS' FUNDS

186,872

176,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2025 and were signed on its behalf by:

N Faulds - Director

1.	STATUTORY INFORMATION

One Accounting Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipments

-

33% on cost and 25% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors payable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipments

Totals

£

COST

At 1 December 2023

and 30 November 2024

2,131

28,288

30,419

DEPRECIATION

At 1 December 2023

2,131

22,208

24,339

Charge for year

-

3,265

At 30 November 2024

2,131

25,473

27,604

NET BOOK VALUE

At 30 November 2024

-

2,815

At 30 November 2023

-

6,080

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

Trade debtors

185,580

132,816

Amounts owed by group undertakings

1,636

Other debtors

5,587

9,364

Prepayments

22,155

21,528

Deposits paid

4,584

219,542

169,928

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

Bank loans and overdrafts

-

3

Trade creditors

25,281

32,696

Tax

42,429

33,467

Social security and other taxes

9,237

10,624

VAT

72,353

47,468

Other creditors

7,364

5,922

RBS Credit Card

2,196

790

Directors' current accounts

1,275

Directors' loan accounts

719

Accrued expenses

26,377

34,639

187,231

167,603

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.11.24

30.11.23

£

Within one year

-

12,961

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £106,000 (2023 - £108,400) were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Jellybean Partners Ltd.

The company is controlled by N Faulds and C Thomas by virtue of their combined majority

shareholding in the parent company Jellybean Partners Ltd.