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Registered Number: 06192028
England and Wales

 

 

 

ACCOUNTING & FINANCIAL SOLUTIONS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 65,000    65,000 
65,000    65,000 
Current assets      
Debtors 297,052    279,113 
Cash at bank and in hand 21,423    14,539 
318,475    293,652 
Creditors: amount falling due within one year (42,968)   (38,649)
Net current assets 275,507    255,003 
 
Total assets less current liabilities 340,507    320,003 
Creditors: amount falling due after more than one year (16,516)   (24,477)
Net assets 323,991    295,526 
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 323,989    295,524 
Shareholders' funds 323,991    295,526 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 May 2025 and were signed on its behalf by:


-------------------------------
Mr Faruk Y Patel
Director
1
General Information
Accounting & Financial Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 06192028, registration address 19a Chorley Old Road, Bolton, Lancashire, BL1 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 5).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 65,000    65,000 
Additions  
Disposals  
At 31 May 2024 65,000    65,000 
Net book values
At 31 May 2024 65,000    65,000 
At 31 May 2023 65,000    65,000 


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2