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Registration number: 10436561

Sarah Thompson Accountancy Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Sarah Thompson Accountancy Limited

Contents

Statement of financial position

1

Notes to the Financial Statements

2 to 5

 

Sarah Thompson Accountancy Limited

(Registration number: 10436561)
Statement of financial position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

69

173

Current assets

 

Debtors

5

37,244

23,412

Cash at bank and in hand

 

1,350

16,624

 

38,594

40,036

Creditors: Amounts falling due within one year

6

(30,381)

(37,290)

Net current assets

 

8,213

2,746

Total assets less current liabilities

 

8,282

2,919

Provisions for liabilities

(17)

(43)

Net assets

 

8,265

2,876

Capital and reserves

 

Called up share capital

100

100

Retained earnings

8,165

2,776

Shareholders' funds

 

8,265

2,876

For the financial year ending 31 October 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 6 June 2025
 

.........................................
Mrs S Thompson
Director

   
     
 

Sarah Thompson Accountancy Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
6 Minister Drive
Urmston
Manchester
M41 5HA

These financial statements were authorised for issue by the director on 6 June 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 financial statements comply with FRS 102 Section 1A for small entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Sarah Thompson Accountancy Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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 provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

Sarah Thompson Accountancy Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 November 2023

1,990

1,990

At 31 October 2024

1,990

1,990

Depreciation

At 1 November 2023

1,817

1,817

Charge for the year

104

104

At 31 October 2024

1,921

1,921

Carrying amount

At 31 October 2024

69

69

At 31 October 2023

173

173

5

Debtors

2024
£

2023
£

Trade debtors

15,666

23,412

Other debtors

21,578

-

37,244

23,412

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

29,440

33,530

Accruals and deferred income

940

840

Other creditors

1

2,920

30,381

37,290

 

Sarah Thompson Accountancy Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £9,617 (2023 - £3,881).