Samuels Surveyors Ltd
Registered number: 11556722
Statement of Financial Position
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,356 13,582
Current assets
Debtors 4 239,251 225,251
Creditors: amounts falling due within one year 5 (162,185) (157,694)
Net current assets 77,066 67,557
Total assets less current liabilities 85,422 81,139
Provisions for liabilities (1,786) (2,581)
Net assets 83,636 78,558
Capital and reserves
Called up share capital 100 100
Profit and loss account 83,536 78,458
Shareholder's funds 83,636 78,558
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richard Jackaman
Director
Approved by the board on 13 May 2025
Samuels Surveyors Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixture and fittings 25% reducing balance
Computer equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Fixture and fittings Computer equipment Total
£ £ £
Cost
At 1 October 2023 12,940 16,682 29,622
Additions - 2,541 2,541
Disposals (3,078) (9,409) (12,487)
At 30 September 2024 9,862 9,814 19,676
Depreciation
At 1 October 2023 7,478 8,562 16,040
Charge for the year 834 1,734 2,568
On disposals (1,604) (5,684) (7,288)
At 30 September 2024 6,708 4,612 11,320
Net book value
At 30 September 2024 3,154 5,202 8,356
At 30 September 2023 5,462 8,120 13,582
4 Debtors 2024 2023
£ £
Trade debtors 28,209 39,615
Prepayments - 450
Other debtors 211,042 185,186
239,251 225,251
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,971 12,596
Trade creditors 47 160
Accruals 1,625 1,550
Corporation tax 57,284 53,269
Other taxes and social security costs 75,701 90,119
Other creditors 11,557 -
162,185 157,694
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Richard Jackaman
Repayable on demand 125,230 25,856 - 151,086
125,230 25,856 - 151,086
7 Other information
Samuels Surveyors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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