Acorah Software Products - Accounts Production 14.5.501 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 12628562 Miss Suzy Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12628562 2022-06-30 12628562 2023-06-30 12628562 2022-07-01 2023-06-30 12628562 frs-core:CurrentFinancialInstruments 2023-06-30 12628562 frs-core:Non-currentFinancialInstruments 2023-06-30 12628562 frs-core:BetweenOneFiveYears 2023-06-30 12628562 frs-core:ComputerEquipment 2022-07-01 2023-06-30 12628562 frs-core:FurnitureFittings 2023-06-30 12628562 frs-core:FurnitureFittings 2022-07-01 2023-06-30 12628562 frs-core:FurnitureFittings 2022-06-30 12628562 frs-core:NetGoodwill 2023-06-30 12628562 frs-core:NetGoodwill 2022-07-01 2023-06-30 12628562 frs-core:NetGoodwill 2022-06-30 12628562 frs-core:MotorVehicles 2023-06-30 12628562 frs-core:MotorVehicles 2022-07-01 2023-06-30 12628562 frs-core:MotorVehicles 2022-06-30 12628562 frs-core:PlantMachinery 2023-06-30 12628562 frs-core:PlantMachinery 2022-07-01 2023-06-30 12628562 frs-core:PlantMachinery 2022-06-30 12628562 frs-core:ShareCapital 2023-06-30 12628562 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 12628562 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 12628562 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 12628562 frs-bus:SmallEntities 2022-07-01 2023-06-30 12628562 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 12628562 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 12628562 frs-bus:Director1 2022-07-01 2023-06-30 12628562 frs-countries:EnglandWales 2022-07-01 2023-06-30 12628562 2021-06-30 12628562 2022-06-30 12628562 2021-07-01 2022-06-30 12628562 frs-core:CurrentFinancialInstruments 2022-06-30 12628562 frs-core:Non-currentFinancialInstruments 2022-06-30 12628562 frs-core:BetweenOneFiveYears 2022-06-30 12628562 frs-core:ShareCapital 2022-06-30 12628562 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: 12628562
Suzy Smith Racing Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
C&H Associates T/AS Mobile Accountants
Chartered Management Accountants & Tax Practitioners
206 Turners Hill
Cheshunt
Waltham Cross
Hertfordshire
EN8 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12628562
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 57,600 62,400
Tangible Assets 5 66,570 43,931
124,170 106,331
CURRENT ASSETS
Stocks 6 187,698 266,153
Debtors 7 42,384 (1,563 )
Cash at bank and in hand 35,452 -
265,534 264,590
Creditors: Amounts Falling Due Within One Year 8 (154,576 ) (272,114 )
NET CURRENT ASSETS (LIABILITIES) 110,958 (7,524 )
TOTAL ASSETS LESS CURRENT LIABILITIES 235,128 98,807
Creditors: Amounts Falling Due After More Than One Year 9 (325,677 ) (98,506 )
NET (LIABILITIES)/ASSETS (90,549 ) 301
CAPITAL AND RESERVES
Called up share capital 11 10,100 10,100
Profit and Loss Account (100,649 ) (9,799 )
SHAREHOLDERS' FUNDS (90,549) 301
Page 1
Page 2
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Suzy Smith
Director
28/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Suzy Smith Racing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12628562 . The registered office is 206 Turners Hill Cheshunt, Waltham Cross, Herts, EN8 9DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20
Motor Vehicles 20
Fixtures & Fittings 20
Computer Equipment 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2022 72,000
As at 30 June 2023 72,000
Amortisation
As at 1 July 2022 9,600
Provided during the period 4,800
As at 30 June 2023 14,400
Net Book Value
As at 30 June 2023 57,600
As at 1 July 2022 62,400
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2022 30,412 31,526 1,141 63,079
Additions 655 39,532 - 40,187
As at 30 June 2023 31,067 71,058 1,141 103,266
Depreciation
As at 1 July 2022 9,346 9,346 456 19,148
Provided during the period 14,212 3,107 229 17,548
As at 30 June 2023 23,558 12,453 685 36,696
Net Book Value
As at 30 June 2023 7,509 58,605 456 66,570
As at 1 July 2022 21,066 22,180 685 43,931
6. Stocks
2023 2022
£ £
Stock 187,698 266,153
Page 4
Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 51,451 -
Amounts recoverable on contracts - 4,790
Prepayments and accrued income (9,295 ) (6,515 )
Other debtors 228 162
42,384 (1,563 )
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 52,963 20,206
Bank loans and overdrafts - 3,168
Other taxes and social security 49,458 21,722
VAT 49,864 26,575
Other creditors - 5,195
Accruals and deferred income 2,198 8,047
Director's loan account 93 187,201
154,576 272,114
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,077 8,353
Bank loans 317,600 90,153
325,677 98,506
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 8,077 8,353
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,100 10,100
Page 5