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Company registration number: 04746674
Adam Simmons and Associates Limited
Unaudited filleted financial statements
31 March 2025
Adam Simmons and Associates Limited
Contents
Statement of financial position
Notes to the financial statements
Adam Simmons and Associates Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 7 708 1,422
_______ _______
708 1,422
Current assets
Debtors 8 11,042 158
Cash at bank and in hand 12,201 28,272
_______ _______
23,243 28,430
Creditors: amounts falling due
within one year 9 ( 8,593) ( 6,832)
_______ _______
Net current assets 14,650 21,598
_______ _______
Total assets less current liabilities 15,358 23,020
Provisions for liabilities 10 ( 134) ( 270)
_______ _______
Net assets 15,224 22,750
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,124 22,651
_______ _______
Shareholders funds 15,224 22,751
_______ _______
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 June 2025 , and are signed on behalf of the board by:
Mr Adam Simmons
Director
Company registration number: 04746674
Adam Simmons and Associates Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25.00 % straight line
Computer equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2025 2024
£ £
Depreciation of tangible assets 714 605
_______ _______
6. Tax on profit
Major components of tax expense
2025 2024
£ £
Current tax:
UK current tax expense 5,173 3,831
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 136) 164
_______ _______
Tax on profit 5,037 3,995
_______ _______
7. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 April 2024 and 31 March 2025 4,357 5,741 10,098
_______ _______ _______
Depreciation
At 1 April 2024 4,357 4,319 8,676
Charge for the year - 714 714
_______ _______ _______
At 31 March 2025 4,357 5,033 9,390
_______ _______ _______
Carrying amount
At 31 March 2025 - 708 708
_______ _______ _______
At 31 March 2024 - 1,422 1,422
_______ _______ _______
8. Debtors
2025 2024
£ £
Trade debtors 2,261 -
Director's loan account 8,553 -
Prepayments and accrued income 228 158
_______ _______
11,042 158
_______ _______
9. Creditors: amounts falling due within one year
2025 2024
£ £
Corporation tax 5,173 3,409
Director's loan account - 3
Accruals and deferred income 3,420 3,420
_______ _______
8,593 6,832
_______ _______
10. Provisions
Deferred tax (note 11) Total
£ £
At 1 April 2024 270 270
Charges against provisions ( 136) ( 136)
_______ _______
At 31 March 2025 134 134
_______ _______
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2025 2024
£ £
Included in provisions (note 10) 134 270
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2025 2024
£ £
Accelerated capital allowances 134 270
_______ _______
12. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Adam Simmons ( 3) 53,297 ( 44,741) 8,553
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Adam Simmons ( 421) 75,901 ( 75,483) ( 3)
_______ _______ _______ _______
13. Related party transactions
Mr A Simmons is considered to be a related party by virtue of his directorship of and shareholding in the company.During the year Mr A Simmons withdrew net funds of £8,550 (2024: £418).As at 31 March 2025 Mr A Simmons owed the company £8,553 (2024: the company owed Mr Simmons £3).The loan is unsecured, interest free and repayable on demand.