Registered number
04552879
Melvyn F. Oarton & Co. Ltd.
Filleted Accounts
30 September 2024
Melvyn F. Oarton & Co. Ltd.
Registered number: 04552879
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 13,171 17,560
Tangible assets 4 1,494 862
14,665 18,422
Current assets
Work in progress 3,850 3,684
Debtors 5 7,901 6,007
Cash at bank and in hand 4,642 3,730
16,393 13,421
Creditors: amounts falling due within one year 6 (4,117) (3,646)
Net current assets 12,276 9,775
Net assets 26,941 28,197
Capital and reserves
Called up share capital 2 2
Profit and loss account 26,939 28,195
Shareholders' funds 26,941 28,197
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered 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.
Mr. M.F. Oarton
Director
Approved by the board on 10 June 2025
Melvyn F. Oarton & Co. 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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Office equipment and furniture 20% per annum, reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 21,949
At 30 September 2024 21,949
Amortisation
At 1 October 2023 4,389
Provided during the year 4,389
At 30 September 2024 8,778
Net book value
At 30 September 2024 13,171
At 30 September 2023 17,560
4 Tangible fixed assets
Office equipment and furniture
£
Cost
At 1 October 2023 7,092
Additions 1,005
At 30 September 2024 8,097
Depreciation
At 1 October 2023 6,230
Charge for the year 373
At 30 September 2024 6,603
Net book value
At 30 September 2024 1,494
At 30 September 2023 862
5 Debtors 2024 2023
£ £
Trade debtors 7,219 4,385
Other debtors 682 1,622
7,901 6,007
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 3,552 3,645
Other creditors 565 1
4,117 3,646
7 Other information
Melvyn F. Oarton & Co. Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Marshside
Bridge Reeve
Chulmleigh
Devon
EX18 7BD
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