Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2022 1 April 2021 false 1 April 2022 31 March 2023 31 March 2023 7825813 Mrs Deborah Courtney Mr David Courtney iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 7825813 2022-03-31 7825813 2023-03-31 7825813 2022-04-01 2023-03-31 7825813 frs-core:CurrentFinancialInstruments 2023-03-31 7825813 frs-core:Non-currentFinancialInstruments 2023-03-31 7825813 frs-core:ComputerEquipment 2023-03-31 7825813 frs-core:ComputerEquipment 2022-04-01 2023-03-31 7825813 frs-core:ComputerEquipment 2022-03-31 7825813 frs-core:FurnitureFittings 2023-03-31 7825813 frs-core:FurnitureFittings 2022-04-01 2023-03-31 7825813 frs-core:FurnitureFittings 2022-03-31 7825813 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 7825813 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 7825813 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 7825813 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-03-31 7825813 frs-core:MotorVehicles 2023-03-31 7825813 frs-core:MotorVehicles 2022-04-01 2023-03-31 7825813 frs-core:MotorVehicles 2022-03-31 7825813 frs-core:PlantMachinery 2023-03-31 7825813 frs-core:PlantMachinery 2022-04-01 2023-03-31 7825813 frs-core:PlantMachinery 2022-03-31 7825813 frs-core:ShareCapital 2023-03-31 7825813 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 7825813 frs-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 7825813 frs-bus:FilletedAccounts 2022-04-01 2023-03-31 7825813 frs-bus:SmallEntities 2022-04-01 2023-03-31 7825813 frs-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 7825813 frs-bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 7825813 frs-bus:Director1 2022-04-01 2023-03-31 7825813 frs-bus:Director2 2022-04-01 2023-03-31 7825813 frs-core:CurrentFinancialInstruments 1 2023-03-31 7825813 frs-countries:EnglandWales 2022-04-01 2023-03-31 7825813 2021-03-31 7825813 2022-03-31 7825813 2021-04-01 2022-03-31 7825813 frs-core:CurrentFinancialInstruments 2022-03-31 7825813 frs-core:Non-currentFinancialInstruments 2022-03-31 7825813 frs-core:ShareCapital 2022-03-31 7825813 frs-core:RetainedEarningsAccumulatedLosses 2022-03-31 7825813 frs-core:CurrentFinancialInstruments 1 2022-03-31
Registered number: 7825813
Marquee Carpets Limited
Unaudited Financial Statements
For The Year Ended 31 March 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 7825813
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 549,848 532,212
549,848 532,212
CURRENT ASSETS
Stocks 5 250,000 100,000
Debtors 6 528,649 348,385
Cash at bank and in hand 307,280 365,206
1,085,929 813,591
Creditors: Amounts Falling Due Within One Year 7 (580,596 ) (520,934 )
NET CURRENT ASSETS (LIABILITIES) 505,333 292,657
TOTAL ASSETS LESS CURRENT LIABILITIES 1,055,181 824,869
Creditors: Amounts Falling Due After More Than One Year 8 (189,694 ) (218,650 )
NET ASSETS 865,487 606,219
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 865,485 606,217
SHAREHOLDERS' FUNDS 865,487 606,219
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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.
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
Mrs Deborah Courtney
Director
12th January 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Marquee Carpets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7825813 . The registered office is Chalice House, Bromley Road, Colchester, Essex, CO7 7BY.
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:
Freehold 2% straight Line
Leasehold 2% straight Line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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.
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2.5. 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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 9)
9 9
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2022 469,040 112,830 - 16,546
Additions - 8,425 34,950 -
As at 31 March 2023 469,040 121,255 34,950 16,546
Depreciation
As at 1 April 2022 - 57,305 - 11,930
Provided during the period - 15,988 8,738 1,154
As at 31 March 2023 - 73,293 8,738 13,084
Net Book Value
As at 31 March 2023 469,040 47,962 26,212 3,462
As at 1 April 2022 469,040 55,525 - 4,616
Computer Equipment Total
£ £
Cost
As at 1 April 2022 5,800 604,216
Additions 1,198 44,573
As at 31 March 2023 6,998 648,789
Depreciation
As at 1 April 2022 2,769 72,004
Provided during the period 1,057 26,937
As at 31 March 2023 3,826 98,941
Net Book Value
As at 31 March 2023 3,172 549,848
As at 1 April 2022 3,031 532,212
5. Stocks
2023 2022
£ £
Stock 250,000 100,000
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 416,102 291,012
Prepayments and accrued income 20,347 20,148
Other debtors 90,000 -
Amounts owed by associates - 37,225
526,449 348,385
Due after more than one year
Other debtors 2,200 -
2,200 -
528,649 348,385
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 120,258 112,608
Bank loans and overdrafts 28,956 27,760
Corporation tax 262,923 169,165
Other taxes and social security 25 286
VAT 90,448 99,927
Other creditors - 46,000
Other creditors (1) 575 408
Government grants within one year 187 187
Directors' loan accounts 77,224 10,130
Amounts owed to other participating interests - 54,463
580,596 520,934
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 189,694 218,650
189,694 218,650
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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