Company Registration No. 02491770 (England and Wales)
PETER STEWART ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
PETER STEWART ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PETER STEWART ASSOCIATES LIMITED (REGISTERED NUMBER: 02491770)
BALANCE SHEET
AS AT 30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,011
29,745
Current assets
Debtors
4
55,247
41,921
Cash at bank and in hand
161,781
138,791
217,028
180,712
Creditors: amounts falling due within one year
5
(67,183)
(43,864)
Net current assets
149,845
136,848
Total assets less current liabilities
171,856
166,593
Provisions for liabilities
(2,674)
(3,390)
Net assets
169,182
163,203
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
169,082
163,103
Total equity
169,182
163,203
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PETER STEWART ASSOCIATES LIMITED (REGISTERED NUMBER: 02491770)
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2021
30 April 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 August 2021 and are signed on its behalf by:
M J Brown
M J T Brennan
Director
Director
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
1
Accounting policies
Company information
Peter Stewart Associates Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5th Floor, 34 Threadneedle Street, London, EC2R 8AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20% on cost
Fixtures, fittings & equipment
20% on cost
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2020 - 6).
2021
2020
Number
Number
Total
5
6
3
Tangible fixed assets
Leasehold improvements
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 May 2020
39,672
31,113
70,785
Additions
2,625
2,625
At 30 April 2021
39,672
33,738
73,410
Depreciation and impairment
At 1 May 2020
15,868
25,172
41,040
Depreciation charged in the year
7,934
2,425
10,359
At 30 April 2021
23,802
27,597
51,399
Carrying amount
At 30 April 2021
15,870
6,141
22,011
At 30 April 2020
23,804
5,941
29,745
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
18,291
7,955
Amounts owed by group undertakings
17,905
7,365
Other debtors
19,051
26,601
55,247
41,921
PETER STEWART ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 5 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
1,610
275
Taxation and social security
41,035
36,865
Other creditors
24,538
6,724
67,183
43,864
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
56,250
71,250