Registration number:
Phil Saunders Associates Limited
for the
Year Ended 31 October 2022
Phil Saunders Associates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Phil Saunders Associates Limited
Company Information
Directors |
Mr PJ Saunders Ms TPJ Salvidge |
Company secretary |
Ms TPJ Salvidge |
Registered office |
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Accountants |
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Phil Saunders Associates Limited
(Registration number: 04543703)
Balance Sheet as at 31 October 2022
Note |
2022 |
(As restated) |
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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 liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net liabilities |
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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' deficit |
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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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Phil Saunders Associates Limited
(Registration number: 04543703)
Balance Sheet as at 31 October 2022
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 directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Phil Saunders Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
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 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.
The presentation currency of the financial statements is Pound Sterling (£). All amounts are rounded to the nearest pound.
Phil Saunders Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
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Accounting policies (continued) |
Prior period errors
An insurance expense was misanlalysed and reallocated to the profit and loss account and a prior year adjustment has been executed to recitfy.
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 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 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.
Phil Saunders Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
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Accounting policies (continued) |
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:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% reducing balance/ 33% on cost |
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Phil Saunders Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Tangible assets |
Furniture, fittings and 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 |
Current |
2022 |
2021 |
Trade debtors |
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Prepayments |
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Phil Saunders Associates Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022
Creditors |
Creditors: amounts falling due within one year
2022 |
(As restated) |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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