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Registration number: 03820464

SDT Accounting and Taxation Services Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

SDT Accounting and Taxation Services Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

SDT Accounting and Taxation Services Ltd

Company Information

Director

 

S A Dawodu-Talabi

Registered office



 

26 Beechwood Avenue
Chatham
Kent
ME5 7HH

 

SDT Accounting and Taxation Services Ltd

(Registration number: 03820464)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

535

713

Current assets

 

Debtors

173,569

152,935

Cash at bank and in hand

 

14,249

19,318

 

187,818

172,253

Creditors: Amounts falling due within one year

(11,375)

(11,716)

Net current assets

 

176,443

160,537

Total assets less current liabilities

 

176,978

161,250

Creditors: Amounts falling due after more than one year

(6,300)

(9,900)

Accruals and deferred income

 

(1,400)

(2,177)

Net assets

 

169,278

149,173

Capital and reserves

 

Called up share capital

200

200

Retained earnings

169,078

148,973

Shareholders' funds

 

169,278

149,173

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

SDT Accounting and Taxation Services Ltd

(Registration number: 03820464)
Abridged Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 May 2025
 

S A Dawodu-Talabi
Director

 

SDT Accounting and Taxation Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

These financial statements were authorised for issue by the director on 14 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

SDT Accounting and Taxation Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SDT Accounting and Taxation Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

178

238

 

SDT Accounting and Taxation Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,690

1,690

At 31 August 2024

1,690

1,690

Depreciation

At 1 September 2023

977

977

Charge for the year

178

178

At 31 August 2024

1,155

1,155

Carrying amount

At 31 August 2024

535

535

At 31 August 2023

713

713

 

SDT Accounting and Taxation Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

6

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Repayments by director
£

At 31 August 2024
£

S A Dawodu-Talabi

Loan

10,000

(1,950)

8,050

2023

At 1 September 2022
£

Advances to director
£

At 31 August 2023
£

S A Dawodu-Talabi

Loan

3,000

7,000

10,000

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,096

9,057



Included in other debtors, there is a loan balance of £153,175 (2023: £131,675) due from SDT Properties Limited, a company under comman control.