Registration number: 14344537

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Company Information

Director

Mr C Hadji-Argyris

Registered office

15 Alverton Street Penzance Cornwall TR18 2QP

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

(Registration number: 14344537)
Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	503,273	532,308
Tangible assets	5	6,889	5,859
		510,162	538,167
Current assets
Stocks	6	100,682	138,194
Debtors	7	47,000	47,815
Cash at bank and in hand		308	3,735
		147,990	189,744
Creditors: Amounts falling due within one year	8	(258,420)	(249,601)
Net current liabilities		(110,430)	(59,857)
Total assets less current liabilities		399,732	478,310
Creditors: Amounts falling due after more than one year	8	(315,930)	(376,838)
Provisions for liabilities		(635)	(1,113)
Net assets		83,167	100,359
Capital and reserves
Called up share capital		100	100
Retained earnings		83,067	100,259
Shareholders' funds		83,167	100,359

For the financial year ending 30 September 2025 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.

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

(Registration number: 14344537)
Balance Sheet as at 30 September 2025

Approved and authorised by the director on 28 October 2026
 

......................................... Mr C Hadji-Argyris Director

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

1	General information

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

The address of its registered office is:
15 Alverton Street
Penzance
Cornwall
TR18 2QP

These financial statements were authorised for issue by the director on 28 October 2026.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of turnover 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 expense 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Depreciation method and rate for Tangible assets
Asset class	Depreciation method and rate
Furniture, fittings and equipment	3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

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.

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value. The cost of work in progress comprises direct costs and those overheads that have been incurred. At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its net realisable value; 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 13).

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 October 2024	580,700	580,700
At 30 September 2025	580,700	580,700
Amortisation
At 1 October 2024	48,392	48,392
Amortisation charge	29,035	29,035
At 30 September 2025	77,427	77,427
Carrying amount
At 30 September 2025	503,273	503,273
At 30 September 2024	532,308	532,308

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2024	10,057	10,057
Additions	3,547	3,547
At 30 September 2025	13,604	13,604
Depreciation
At 1 October 2024	4,198	4,198
Charge for the year	2,517	2,517
At 30 September 2025	6,715	6,715
Carrying amount
At 30 September 2025	6,889	6,889
At 30 September 2024	5,859	5,859

West Cornwall Accountants Limited

trading as D.J. Reynolds & Co

Notes to the Unaudited Financial Statements for the year ended 30 September 2025

6

Stocks

	2025 £	2024 £
Work in progress	100,682	138,194

7

Debtors

Current	2025 £	2024 £
Trade debtors	41,981	40,843
Prepayments	5,019	6,972
	47,000	47,815

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	84,885	65,689
Trade creditors		21,342	3,108
Taxation and social security		89,247	70,211
Accruals and deferred income		1,920	-
Other creditors		61,026	110,593
		258,420	249,601