2023-08-012024-07-312024-07-31false04492368JOHN FALLOWS ACCOUNTANTS 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JOHN FALLOWS ACCOUNTANTS LTD

Registered Number
04492368
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

JOHN FALLOWS ACCOUNTANTS LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

FALLOWS, John Martin

Registered Address

Office B6 1st Floor, Lodge House
Cow Lane
Burnley
BB11 1NN

Registered Number

04492368 (England and Wales)
JOHN FALLOWS ACCOUNTANTS LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets47,5238,312
7,5238,312
Current assets
Debtors79,01983,522
Cash at bank and on hand11910,957
79,13894,479
Creditors amounts falling due within one year(70,450)(89,946)
Net current assets (liabilities)8,6884,533
Total assets less current liabilities16,21112,845
Creditors amounts falling due after one year(8,145)(12,418)
Net assets8,066427
Capital and reserves
Called up share capital100100
Profit and loss account7,966327
Shareholders' funds8,066427
The financial statements were approved and authorised for issue by the Director on 14 May 2025, and are signed on its behalf by:
FALLOWS, John Martin
Director
Registered Company No. 04492368
JOHN FALLOWS ACCOUNTANTS LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-5
Plant and machinery25-
Fixtures and fittings25-
Office Equipment20-
2.Average number of employees

20242023
Average number of employees during the year87
3.Intangible assets

Total

£
Cost or valuation
At 01 August 2313,200
At 31 July 2413,200
Amortisation and impairment
At 01 August 2313,200
At 31 July 2413,200
Net book value
At 31 July 24-
At 31 July 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 2358,183
Additions663
At 31 July 2458,846
Depreciation and impairment
At 01 August 2349,871
Charge for year1,452
At 31 July 2451,323
Net book value
At 31 July 247,523
At 31 July 238,312