Registered number
05955743
Whitestone Accounting Ltd
Filleted Accounts
31 October 2024
Whitestone Accounting Ltd
Registered number: 05955743
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 107,100 122,400
Tangible assets 4 447 663
107,547 123,063
Current assets
Debtors 5 57,805 47,152
Cash at bank and in hand 4,731 18,199
62,536 65,351
Creditors: amounts falling due within one year 6 (103,717) (103,757)
Net current liabilities (41,181) (38,406)
Total assets less current liabilities 66,366 84,657
Creditors: amounts falling due after more than one year 7 (65,132) (84,413)
Net assets 1,234 244
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,134 144
Shareholders' funds 1,234 244
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 and delivered 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.
Mr Edward Owen
Director
Approved by the board on 7 May 2025
Whitestone Accounting Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
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).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 over 3 years
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
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 153,000
At 31 October 2024 153,000
Amortisation
At 1 November 2023 30,600
Provided during the year 15,300
At 31 October 2024 45,900
Net book value
At 31 October 2024 107,100
At 31 October 2023 122,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 5,565
Additions 498
At 31 October 2024 6,063
Depreciation
At 1 November 2023 4,902
Charge for the year 714
At 31 October 2024 5,616
Net book value
At 31 October 2024 447
At 31 October 2023 663
5 Debtors 2024 2023
£ £
Trade debtors 47,108 40,573
Directors' loan accounts 8,792 4,856
Other debtors 1,905 1,723
57,805 47,152
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,490 12,168
Trade creditors 5,105 4,640
Taxation and social security costs 52,565 64,878
PAYE 4,022 -
VAT 22,668 -
Other creditors 867 22,071
103,717 103,757
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 65,132 84,413
8 Other information
Whitestone Accounting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Cavendish House
15 Whiteladies Road
Clifton
Bristol
BS8 1PB
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