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Registration number: 05748918

Accountax Plus Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 November 2024

Accountax Plus Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

Accountax Plus Ltd

Company Information

Director | E M McCrink

Registered office | Sandy Cottage Newton in Cartmel Grange over Sands LA11 6JL

Bankers | HSBC 49A Fishergate Preston Lancashire PR1 8BH

Accountants | Accountax Plus Chartered AccountantsSandy Cottage Newton in Cartmel Grange over Sands LA11 6JL

Accountax Plus Ltd

(Registration number: 05748918)
Balance Sheet as at 30 November 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 14,460 | 16,388
Current assets |  |  |
Debtors | 5 | 96,114 | 51,373
Cash at bank and in hand |  | 942 | 9,356
|  | 97,056 | 60,729
Creditors: Amounts falling due within one year | 6 | (94,410) | (55,703)
Net current assets |  | 2,646 | 5,026
Total assets less current liabilities |  | 17,106 | 21,414
Creditors: Amounts falling due after more than one year | 6 | (17,021) | (20,550)
Provisions for liabilities |  | - | (768)
Net assets |  | 85 | 96
Capital and reserves |  |  |
Called up share capital |  | 10 | 10
Retained earnings |  | 75 | 86
Shareholders' funds |  | 85 | 96

For the financial 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 accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 November 2025

......................................... E M McCrink Director

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Sandy Cottage
Newton in Cartmel
Grange over Sands
LA11 6JL

These financial statements were authorised for issue by the director on 4 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the value of consideration for goods and services provided stated net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax charge or credit for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Employee benefits

Short-term employee benefits, including holiday pay, are charged to profit or loss in the period in which they are incurred.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fittings | 12.5% straight line basis
Office equipment | 33% straight line basis
Short leasehold improvements | 12.5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods and services provided in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Financial instruments

Classification
The following assets and liabilities are classified as basic financial instruments; cash, trade debtors, other debtors (excluding prepayments), accrued income, trade creditors, accruals, bank and other borrowings.
Recognition and measurement
The recognition and measurement of these financial instruments is as described under the relevant section within this note on accounting policies. Except as disclosed elsewhere within this note basic financial instruments are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.
Impairment
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, under a written or implied contract of service, was 2 (2023 - 2).

4 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 December 2023 | 3,100 | 18,436 | 21,536
Additions | - | 299 | 299
At 30 November 2024 | 3,100 | 18,735 | 21,835
Depreciation
At 1 December 2023 | 129 | 5,019 | 5,148
Charge for the year | 388 | 1,839 | 2,227
At 30 November 2024 | 517 | 6,858 | 7,375
Carrying amount
At 30 November 2024 | 2,583 | 11,877 | 14,460
At 30 November 2023 | 2,971 | 13,417 | 16,388

Included within the net book value of land and buildings above is £2,583 (2023 - £2,971) in respect of short leasehold land and buildings.

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5 | Debtors

| Note | 2024 £ | 2023 £
Trade debtors |  | 4,404 | 1,389
Other debtors |  | 88,075 | 48,889
Prepayments |  | 1,355 | 1,095
Deferred tax assets |  | 2,280 | -
|  | 96,114 | 51,373

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 7 | 3,529 | 3,441
Taxation and social security |  | 5,148 | 1,005
Accruals and deferred income |  | 76,032 | 44,605
Other creditors |  | 9,701 | 6,652
|  | 94,410 | 55,703

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 7 | 17,021 | 20,550

Creditors include loans and borrowings repayable by instalments of £1,988 (2023- £5,888) due after more than five years.

7 | Loans and borrowings

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 3,529 | 3,441

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 17,021 | 20,550

8 | Dividends

Interim dividends paid

|  | 2024 £ |  | 2023 £
Interim dividends of £2,988 (2023 - £2,430) per each ordinary A share |  | 26,892 |  | 21,870
Interim dividends of £500 (2023 - £1,000) per each ordinary B share |  | 500 |  | 1,000
|  | 27,392 |  | 22,870

9 | Related party transactions

Transactions with the director

2024 | At 1 December 2023 £ | Advances to director £ | Repayments by director £ | At 30 November 2024 £
Loan account | 34,908 | 156,147 | (102,981) | 88,074

2023 | At 1 December 2022 £ | Advances to director £ | Repayments by director £ | At 30 November 2023 £
Loan account | (533) | 197,511 | (162,069) | 34,908

The loan account is operated as a joint account belonging to both E M McCrink and J A McCrink.
Interest has been charged on the outstanding loan account balance due at 2.25% per annum.

Directors' remuneration

The director's remuneration for the year was as follows:

| 2024 £ | 2023 £
Remuneration | 12,570 | 12,570
Contributions paid to money purchase schemes | 52,000 | 37,500
| 64,570 | 50,070

Accountax Plus Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Dividends paid to directors or to members of their close family

|  | 2024 £ |  | 2023 £
E M McCrink |  |  |  |
Interim dividends |  | 26,892 |  | 21,870
J A McCrink |  |  |  |
Interim dividends |  | 500 |  | 1,000

Other transactions with directors

During the year E M McCrink charged the company £1,776 (2023 - £740) for property rental.