Acorah Software Products - Accounts Production 14.5.501 false true 29 September 2021 30 September 2020 false 30 September 2021 29 September 2022 29 September 2022 03130776 Mr Demetris Papacharalambous Mrs Stella Papacharalambous iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03130776 2021-09-29 03130776 2022-09-29 03130776 2021-09-30 2022-09-29 03130776 frs-core:CurrentFinancialInstruments 2022-09-29 03130776 frs-core:Non-currentFinancialInstruments 2022-09-29 03130776 frs-core:FurnitureFittings 2022-09-29 03130776 frs-core:FurnitureFittings 2021-09-30 2022-09-29 03130776 frs-core:FurnitureFittings 2021-09-29 03130776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-09-29 03130776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2021-09-30 2022-09-29 03130776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2021-09-29 03130776 frs-core:ShareCapital 2022-09-29 03130776 frs-core:RetainedEarningsAccumulatedLosses 2022-09-29 03130776 frs-bus:PrivateLimitedCompanyLtd 2021-09-30 2022-09-29 03130776 frs-bus:FilletedAccounts 2021-09-30 2022-09-29 03130776 frs-bus:SmallEntities 2021-09-30 2022-09-29 03130776 frs-bus:AuditExempt-NoAccountantsReport 2021-09-30 2022-09-29 03130776 frs-bus:SmallCompaniesRegimeForAccounts 2021-09-30 2022-09-29 03130776 frs-bus:Director1 2021-09-30 2022-09-29 03130776 frs-bus:Director2 2021-09-30 2022-09-29 03130776 frs-countries:EnglandWales 2021-09-30 2022-09-29 03130776 2020-09-29 03130776 2021-09-29 03130776 2020-09-30 2021-09-29 03130776 frs-core:CurrentFinancialInstruments 2021-09-29 03130776 frs-core:Non-currentFinancialInstruments 2021-09-29 03130776 frs-core:ShareCapital 2021-09-29 03130776 frs-core:RetainedEarningsAccumulatedLosses 2021-09-29
Registered number: 03130776
ADVANCEFIELD LIMITED
Unaudited Financial Statements
For The Year Ended 29 September 2022
Ascot Sinclair Associates Ltd
Chartered Certified Accountants
Avondale House
262 Uxbridge Road
Hatch End
Middlesex
HA5 4HS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03130776
2022 2021
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,139 8,962
8,139 8,962
CURRENT ASSETS
Debtors 5 51,725 51,725
Cash at bank and in hand 3,296 3,296
55,021 55,021
Creditors: Amounts Falling Due Within One Year 6 (24,320 ) (34,074 )
NET CURRENT ASSETS (LIABILITIES) 30,701 20,947
TOTAL ASSETS LESS CURRENT LIABILITIES 38,840 29,909
Creditors: Amounts Falling Due After More Than One Year 7 (27,500 ) (30,000 )
NET ASSETS/(LIABILITIES) 11,340 (91 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 11,338 (93 )
SHAREHOLDERS' FUNDS 11,340 (91)
Page 1
Page 2
For the year ending 29 September 2022 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 directors acknowledge their 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
Mr Demetris Papacharalambous
Director
22/03/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
ADVANCEFIELD LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03130776 . The registered office is Avondale House, 262 Uxbridge Road, Hatch End, Pinner, HA5 4HS.
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. 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:
Leasehold 6.25% straight line basis
Fixtures & Fittings 10% reducing balance basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2021: )
- -
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Page 4
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 30 September 2021 3,937 6,506 10,443
As at 29 September 2022 3,937 6,506 10,443
Depreciation
As at 30 September 2021 246 1,235 1,481
Provided during the period 296 527 823
As at 29 September 2022 542 1,762 2,304
Net Book Value
As at 29 September 2022 3,395 4,744 8,139
As at 30 September 2021 3,691 5,271 8,962
5. Debtors
2022 2021
£ £
Due within one year
Trade debtors 43,725 43,725
Other debtors 8,000 8,000
51,725 51,725
6. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 2 -
Bank loans and overdrafts 1,990 1,536
Corporation tax 9,208 15,248
Accruals and deferred income 1,800 1,800
Directors' loan accounts 11,320 15,490
24,320 34,074
7. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bank loans BBL 27,500 30,000
27,500 30,000
8. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 2 2
Page 4