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REGISTERED NUMBER: 05938956 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Asquith Accountants Ltd

Asquith Accountants Ltd (Registered number: 05938956)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Asquith Accountants Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr C D Mattinson FCCA
Mr D I Bulman FCCA
Miss J A Springham BSc FCCA





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 05938956 (England and Wales)





ACCOUNTANTS: Asquith Accountants Ltd
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Asquith Accountants Ltd (Registered number: 05938956)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 37,583 48,583
Tangible assets 5 353,137 371,179
390,720 419,762

CURRENT ASSETS
Stocks 254,904 187,771
Debtors 6 217,401 236,284
Cash at bank and in hand 23,534 156,002
495,839 580,057
CREDITORS
Amounts falling due within one year 7 364,319 394,312
NET CURRENT ASSETS 131,520 185,745
TOTAL ASSETS LESS CURRENT
LIABILITIES

522,240

605,507

CREDITORS
Amounts falling due after more than one
year

8

(151,960

)

(221,898

)

PROVISIONS FOR LIABILITIES (25,090 ) (27,905 )
NET ASSETS 345,190 355,704

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 345,070 355,584
SHAREHOLDERS' FUNDS 345,190 355,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Asquith Accountants Ltd (Registered number: 05938956)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:




Mr D I Bulman FCCA - Director



Mr C D Mattinson FCCA - Director


Asquith Accountants Ltd (Registered number: 05938956)

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

1. STATUTORY INFORMATION

Asquith Accountants Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents professional fees invoiced during the year, excluding value added tax, except in respect of service contracts where turnover is recognised when the right to consideration is earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks & work in progress
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Work in progress is valued at the recoverable amount.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 25 ) .

Asquith Accountants Ltd (Registered number: 05938956)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 363,890
AMORTISATION
At 1 November 2023 315,307
Charge for year 11,000
At 31 October 2024 326,307
NET BOOK VALUE
At 31 October 2024 37,583
At 31 October 2023 48,583

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 321,921 255,132 577,053
Additions - 3,420 3,420
At 31 October 2024 321,921 258,552 580,473
DEPRECIATION
At 1 November 2023 47,485 158,389 205,874
Charge for year 6,438 15,024 21,462
At 31 October 2024 53,923 173,413 227,336
NET BOOK VALUE
At 31 October 2024 267,998 85,139 353,137
At 31 October 2023 274,436 96,743 371,179

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 184,926 196,781
Other debtors 32,475 39,503
217,401 236,284

Asquith Accountants Ltd (Registered number: 05938956)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 70,841 77,651
Trade creditors 13,749 15,598
Taxation and social security 196,219 235,634
Other creditors 83,510 65,429
364,319 394,312

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 151,960 221,898

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 76,960 95,557

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Within one year 37,630 41,411
Between one and five years 53,153 83,584
In more than five years 19,200 26,400
109,983 151,395

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 October 2024 and the period ended 31 October 2023:

31.10.24 31.10.23
£    £   
Miss J A Springham BSc FCCA
Balance outstanding at start of year - 5,000
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr D I Bulman FCCA
Balance outstanding at start of year - 5,000
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Asquith Accountants Ltd (Registered number: 05938956)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr C D Mattinson FCCA
Balance outstanding at start of year - 5,000
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -