Company Registration No. 06209419 (England and Wales)
Accountancy Managers Limited
Unaudited accounts
for the year ended 30 April 2021
Accountancy Managers Limited
Unaudited accounts
Contents
Accountancy Managers Limited
Company Information
for the year ended 30 April 2021
Company Number
06209419 (England and Wales)
Registered Office
164 New Cavendish Street
London
W1W 6YT
Accountancy Managers Limited
Statement of financial position
as at 30 April 2021
Tangible assets
22,991
27,919
Cash at bank and in hand
219,686
155,889
Creditors: amounts falling due within one year
(96,598)
(119,805)
Net current assets
194,219
127,199
Total assets less current liabilities
217,210
155,118
Creditors: amounts falling due after more than one year
(20,000)
-
Net assets
197,210
155,118
Called up share capital
100
100
Profit and loss account
197,110
155,018
Shareholders' funds
197,210
155,118
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 January 2022 and were signed on its behalf by
A Chaudhry
Director
Company Registration No. 06209419
Accountancy Managers Limited
Notes to the Accounts
for the year ended 30 April 2021
Accountancy Managers Limited is a private company, limited by shares, registered in England and Wales, registration number 06209419. The registered office is 164 New Cavendish Street, London, W1W 6YT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax, and other sales taxes.
Turnover represents amounts chargeable to clients for professional services rendered during the year inclusive of direct expenses incurred in course of carrying out clients' work.
Unbilled revenue is included in the balance sheet as debtors.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
16.66% on reducing balance
Computer equipment
25% on cost
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Expenditure on research and development is written off in the year in which it is incurred.
Accountancy Managers Limited
Notes to the Accounts
for the year ended 30 April 2021
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2020
37,450
19,985
57,435
At 30 April 2021
37,450
21,077
58,527
At 1 May 2020
11,445
18,071
29,516
Charge for the year
4,335
1,685
6,020
At 30 April 2021
15,780
19,756
35,536
At 30 April 2021
21,670
1,321
22,991
At 30 April 2020
26,005
1,914
27,919
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
64,054
76,640
Accrued income and prepayments
6,472
6,684
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
5,000
-
Trade creditors
9,105
27,796
Taxes and social security
47,983
48,461
Other creditors
1,668
6,669
Loans from directors
22,842
17,277
7
Creditors: amounts falling due after more than one year
2021
2020
8
Transactions with related parties
Included in other creditors is an amount of £22,842 (2020: £17,277) owed by the company to Mr A Chaudhry, a sole director and 100% shareholder of the company.
Accountancy Managers Limited
Notes to the Accounts
for the year ended 30 April 2021
9
Average number of employees
During the year the average number of employees was 5 (2020: 5).
