Registration number:
Sarah Thompson Accountancy Limited
for the Year Ended 31 October 2022
Sarah Thompson Accountancy Limited
Contents
Statement of financial position |
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Notes to the Financial Statements |
Sarah Thompson Accountancy Limited
(Registration number: 10436561)
Statement of financial position as at 31 October 2022
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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 Income statement.
Approved and authorised by the
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Sarah Thompson Accountancy Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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 comply with FRS 102 Section 1A for small entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the 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.
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.
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.
Sarah Thompson Accountancy Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
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 provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life as follows:
Asset class |
Depreciation method and rate |
Office equipment |
20% Straight line |
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.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Sarah Thompson Accountancy Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 November 2021 |
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At 31 October 2022 |
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Depreciation |
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At 1 November 2021 |
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Charge for the year |
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At 31 October 2022 |
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Carrying amount |
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At 31 October 2022 |
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At 31 October 2021 |
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Debtors |
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2021 |
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Trade debtors |
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Creditors |
Creditors: amounts falling due within one year
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2021 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Sarah Thompson Accountancy Limited
Notes to the Financial Statements for the Year Ended 31 October 2022
Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
The total amount of financial commitments not included in the statement of financial position is £