6 01/12/2023 30/11/2024 2024-11-30 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-12-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04109285 2023-12-01 2024-11-30 04109285 2024-11-30 04109285 2023-11-30 04109285 2022-12-01 2023-11-30 04109285 2023-11-30 04109285 2022-11-30 04109285 core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 04109285 bus:Director1 2023-12-01 2024-11-30 04109285 core:FurnitureFittingsToolsEquipment 2023-11-30 04109285 core:FurnitureFittingsToolsEquipment 2024-11-30 04109285 core:WithinOneYear 2024-11-30 04109285 core:WithinOneYear 2023-11-30 04109285 core:AfterOneYear 2024-11-30 04109285 core:AfterOneYear 2023-11-30 04109285 core:ShareCapital 2024-11-30 04109285 core:ShareCapital 2023-11-30 04109285 core:RetainedEarningsAccumulatedLosses 2024-11-30 04109285 core:RetainedEarningsAccumulatedLosses 2023-11-30 04109285 core:BetweenOneFiveYears 2024-11-30 04109285 core:BetweenOneFiveYears 2023-11-30 04109285 core:FurnitureFittingsToolsEquipment 2023-11-30 04109285 bus:SmallEntities 2023-12-01 2024-11-30 04109285 bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 04109285 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 04109285 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 04109285 bus:FullAccounts 2023-12-01 2024-11-30
Company registration number: 04109285
Austyn Smith Associates Limited
Unaudited filleted financial statements
30 November 2024
Austyn Smith Associates Limited
Contents
Statement of financial position
Notes to the financial statements
Austyn Smith Associates Limited
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 16,717 20,842
_______ _______
16,717 20,842
Current assets
Debtors 6 34,819 40,846
Cash at bank and in hand 277,637 318,268
_______ _______
312,456 359,114
Creditors: amounts falling due
within one year 7 ( 140,546) ( 117,929)
_______ _______
Net current assets 171,910 241,185
_______ _______
Total assets less current liabilities 188,627 262,027
Creditors: amounts falling due
after more than one year 8 ( 9,176) ( 19,155)
_______ _______
Net assets 179,451 242,872
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 179,449 242,870
_______ _______
Shareholders funds 179,451 242,872
_______ _______
For the year ending 30 November 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 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 16 July 2025 , and are signed on behalf of the board by:
A. Smith
Director
Company registration number: 04109285
Austyn Smith Associates Limited
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Austyn Smith Associates Limited, 169 New London Road, Chelmsford, Essex, CM2 0AE.
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 and 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. Turnover is reduced for estimated rebates and other similar allowances.
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.
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 - 20 % 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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other receivables and payable.Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 December 2023 50,412 50,412
Additions 2,669 2,669
_______ _______
At 30 November 2024 53,081 53,081
_______ _______
Depreciation
At 1 December 2023 29,570 29,570
Charge for the year 6,794 6,794
_______ _______
At 30 November 2024 36,364 36,364
_______ _______
Carrying amount
At 30 November 2024 16,717 16,717
_______ _______
At 30 November 2023 20,842 20,842
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors - 2,413
Other debtors 34,819 38,433
_______ _______
34,819 40,846
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 17,866 12,972
Corporation tax 97,004 80,399
Social security and other taxes 9,589 4,837
Other creditors 5,439 9,073
_______ _______
140,546 117,929
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 9,176 19,155
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 49,000 49,000
Later than 1 year and not later than 5 years 40,833 89,833
_______ _______
89,833 138,833
_______ _______
10. Controlling party
The company is controlled by A. Smith , the director.