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Registered number: 10373542
The Marigold (Facilities Management) Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
AMCI ASSOCIATES LTD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 10373542
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 124,016 18,085
124,016 18,085
CURRENT ASSETS
Cash at bank and in hand 142,596 313,136
142,596 313,136
Creditors: Amounts Falling Due Within One Year 5 (106,937 ) (153,038 )
NET CURRENT ASSETS (LIABILITIES) 35,659 160,098
TOTAL ASSETS LESS CURRENT LIABILITIES 159,675 178,183
Creditors: Amounts Falling Due After More Than One Year 6 (21,755 ) (29,755 )
NET ASSETS 137,920 148,428
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 137,820 148,328
SHAREHOLDERS' FUNDS 137,920 148,428
Page 1
Page 2
For the year ending 31 August 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 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.
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 Wajed Hussain
Director
26/02/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 September 2021 100 (934 ) (834)
Profit for the year and total comprehensive income - 153,262 153,262
Dividends paid - (4,000) (4,000)
As at 31 August 2022 and 1 September 2022 100 148,328 148,428
Loss for the year and total comprehensive income - (10,508 ) (10,508)
As at 31 August 2023 100 137,820 137,920
Page 3
Page 4
Notes to the Financial Statements
1. General Information
The Marigold (Facilities Management) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10373542 . The registered office is 187 Brookvale Road, Witton, Birmingham, West Midlands, B6 7AJ.
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 0%
Plant & Machinery 20%
Fixtures & Fittings 20%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.5. 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.
...CONTINUED
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2.5. Taxation - continued
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. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. 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: 12 (2022: 15)
12 15
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2022 - 23,239 34,149 57,388
Additions 99,500 3,863 18,522 121,885
As at 31 August 2023 99,500 27,102 52,671 179,273
Depreciation
As at 1 September 2022 - 21,755 17,548 39,303
Provided during the period - 5,420 10,534 15,954
As at 31 August 2023 - 27,175 28,082 55,257
Net Book Value
As at 31 August 2023 99,500 (73 ) 24,589 124,016
As at 1 September 2022 - 1,484 16,601 18,085
Page 5
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5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 1,154 37,144
Other taxes and social security 1,839 2,455
VAT 9,570 22,666
Other creditors 87,552 86,286
Director's loan account 6,822 4,487
106,937 153,038
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 21,755 29,755
21,755 29,755
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Wajed Hussain - 4,000
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