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2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
07365506
2022-04-01
2023-03-31
07365506
2023-03-31
07365506
2022-03-31
07365506
2021-04-01
2022-03-31
07365506
2022-03-31
07365506
2021-03-31
07365506
core:PlantMachinery
2022-04-01
2023-03-31
07365506
bus:LeadAgentIfApplicable
2022-04-01
2023-03-31
07365506
bus:Director2
2022-04-01
2023-03-31
07365506
core:PlantMachinery
2022-03-31
07365506
core:PlantMachinery
2023-03-31
07365506
core:WithinOneYear
2023-03-31
07365506
core:WithinOneYear
2022-03-31
07365506
core:AfterOneYear
2023-03-31
07365506
core:AfterOneYear
2022-03-31
07365506
core:ShareCapital
2023-03-31
07365506
core:ShareCapital
2022-03-31
07365506
core:RetainedEarningsAccumulatedLosses
2023-03-31
07365506
core:RetainedEarningsAccumulatedLosses
2022-03-31
07365506
core:PlantMachinery
2022-03-31
07365506
bus:SmallEntities
2022-04-01
2023-03-31
07365506
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
07365506
bus:FullAccounts
2022-04-01
2023-03-31
07365506
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
07365506
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
07365506
core:WithinOneYear
1
2023-03-31
07365506
core:WithinOneYear
1
2022-03-31
07365506
core:ComputerEquipment
2022-04-01
2023-03-31
07365506
core:ComputerEquipment
2022-03-31
07365506
core:ComputerEquipment
2023-03-31
COMPANY REGISTRATION NUMBER:
07365506
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2023
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 7 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Archform Byte Limited |
|
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Archform Byte Limited for the year ended 31 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Archform Byte Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Archform Byte Limited and state those matters that we have agreed to state them, as a body, in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Archform Byte Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Archform Byte Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Archform Byte Limited. You consider that Archform Byte Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Archform Byte Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
28 November 2023
Statement of Financial Position |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
60,087 |
65,034 |
|
|
|
|
Current assets
Stocks |
65,122 |
60,091 |
Debtors |
6 |
52,459 |
52,417 |
Cash at bank and in hand |
51 |
51 |
|
--------- |
--------- |
|
117,632 |
112,559 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
87,189) |
(
93,436) |
|
--------- |
--------- |
Net current assets |
30,443 |
19,123 |
|
-------- |
-------- |
Total assets less current liabilities |
90,530 |
84,157 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
(
567,709) |
(
559,526) |
|
--------- |
--------- |
Net liabilities |
(
477,179) |
(
475,369) |
|
--------- |
--------- |
|
|
|
|
Statement of Financial Position (continued) |
|
31 March 2023
Capital and reserves
Called up share capital |
2,350 |
2,350 |
Profit and loss account |
(
479,529) |
(
477,719) |
|
--------- |
--------- |
Shareholders deficit |
(
477,179) |
(
475,369) |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 November 2023
, and are signed on behalf of the board by:
Mrs J P Hudson-Ward |
Director |
|
Company registration number:
07365506
Notes to the Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 76 Tyler Street, Sheffield, South Yorkshire, S9 1DH.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Statement of Financial Position, at the year end date, portrays a net total liability position. Despite this adverse position, the financial statements have been prepared on a going concern basis, which basis assumes that the company can continue to operate for the foreseeable future. The directors are of the opinion that this assumption remains valid given the ongoing, and significant financial support provided to the company by the directors, and others, which is unsecured and non-interest bearing. There is no anticipation of this loan support being withdrawn in the foreseeable future.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. In the opinion of management, there are no judgements or key sources of estimation uncertainty that have a significant impact on the financial statements, other than those stated below.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures, fittings & equipment |
- |
10% reducing balance |
|
Computer equipment |
- |
20% straight line |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
EBITDA
The profit before tax as shown in the Income Statement is after charges for depreciation and interest.
The EBITDA, being the earnings before interest, taxation, depreciation and amortisation was therefore as follows:
2023
2022
£4,246
£24,820
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2022:
10
).
5.
Tangible assets
|
Plant and machinery |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2022 |
136,813 |
18,329 |
155,142 |
Additions |
2,625 |
– |
2,625 |
|
--------- |
-------- |
--------- |
At 31 March 2023 |
139,438 |
18,329 |
157,767 |
|
--------- |
-------- |
--------- |
Depreciation |
|
|
|
At 1 April 2022 |
75,431 |
14,677 |
90,108 |
Charge for the year |
6,357 |
1,215 |
7,572 |
|
--------- |
-------- |
--------- |
At 31 March 2023 |
81,788 |
15,892 |
97,680 |
|
--------- |
-------- |
--------- |
Carrying amount |
|
|
|
At 31 March 2023 |
57,650 |
2,437 |
60,087 |
|
--------- |
-------- |
--------- |
At 31 March 2022 |
61,382 |
3,652 |
65,034 |
|
--------- |
-------- |
--------- |
|
|
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
45,050 |
42,552 |
Other debtors |
7,409 |
9,865 |
|
-------- |
-------- |
|
52,459 |
52,417 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
27,343 |
25,559 |
Trade creditors |
32,921 |
31,082 |
Social security and other taxes |
3,548 |
12,470 |
Sundry creditors |
667 |
749 |
Other creditors |
22,710 |
23,576 |
|
-------- |
-------- |
|
87,189 |
93,436 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
36,833 |
53,833 |
Other creditors |
530,876 |
505,693 |
|
--------- |
--------- |
|
567,709 |
559,526 |
|
--------- |
--------- |
|
|
|
The above other creditors, both current and deferred, include director and participator loans as detailed at notes 12 and 13 below.
9.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
25,500 |
34,139 |
|
-------- |
-------- |
|
|
|
10.
Directors' advances, credits and guarantees
At the year end date, the company was indebted to Mrs Pennie Hudson-Ward, a director of Archform Byte Ltd, in the sum of £309,617 (2022: £289,434) by way of unsecured loan. The loan is interest free and there is no fixed date for repayment, other than the fact that no more than £6,000 will be repaid in the ensuing year. The loan has been provided to assist in the development of the company. At the year end date, the company was indebted to Mr M Francis, a director of Archform Byte Ltd, in the sum of £214,509 (2022: £209,509). The loan is interest free and there are no formal repayment terms, other than the intention for there to be no capital repayments in excess of £12,000 of the loan within twelve months of the balance sheet date.
11.
Related party transactions
At the year end date, the company was indebted to Mr A Jepson, a shareholder, in the sum of £24,750 (2022: £24,750). The loan is interest free and there are no formal repayment terms, other than the intention for there to be no capital repayment of the loan within twelve months of the balance sheet date.