Kingsbridge Estate Agents Ltd
Registered number: 12202641
Statement of Financial Position
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 7,800 26,350
Tangible assets 4 167 2,105
7,967 28,455
Current assets
Debtors 5 20,242 26,536
Cash at bank and in hand 40,991 66,211
61,233 92,747
Creditors: amounts falling due within one year 6 (69,100) (91,628)
Net current (liabilities)/assets (7,867) 1,119
Net assets 100 29,574
Capital and reserves
Called up share capital 100 100
Profit and loss account - 29,474
Shareholders' funds 100 29,574
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 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.
A Wood
Director
Approved by the board on 27 June 2025
Kingsbridge Estate Agents 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.
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:
Plant and machinery 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.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 92,750
At 30 September 2024 92,750
Amortisation
At 1 October 2023 66,400
Provided during the year 18,550
At 30 September 2024 84,950
Net book value
At 30 September 2024 7,800
At 30 September 2023 26,350
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 8,978
At 30 September 2024 8,978
Depreciation
At 1 October 2023 6,873
Charge for the year 1,938
At 30 September 2024 8,811
Net book value
At 30 September 2024 167
At 30 September 2023 2,105
5 Debtors 2024 2023
£ £
Trade debtors 4,560 26,466
Prepayments 3,204 70
Other debtors 12,478 -
20,242 26,536
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 878 -
Accruals 1,110 1,060
Corporation tax 9,219 15,908
Other taxes and social security costs 10,168 11,816
Other creditors 47,725 62,844
69,100 91,628
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Wood and E Wood
Repayable on demand - 12,478 - 12,478
- 12,478 - 12,478
8 Other information
Kingsbridge Estate Agents 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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