Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 04039180 Mr Lee Stewart Mrs Marie Stewart Mrs Marie Stewart iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04039180 2022-07-31 04039180 2023-07-31 04039180 2022-08-01 2023-07-31 04039180 frs-core:CurrentFinancialInstruments 2023-07-31 04039180 frs-core:Non-currentFinancialInstruments 2023-07-31 04039180 frs-core:ComputerEquipment 2023-07-31 04039180 frs-core:ComputerEquipment 2022-08-01 2023-07-31 04039180 frs-core:ComputerEquipment 2022-07-31 04039180 frs-core:FurnitureFittings 2023-07-31 04039180 frs-core:FurnitureFittings 2022-08-01 2023-07-31 04039180 frs-core:FurnitureFittings 2022-07-31 04039180 frs-core:NetGoodwill 2023-07-31 04039180 frs-core:NetGoodwill 2022-08-01 2023-07-31 04039180 frs-core:NetGoodwill 2022-07-31 04039180 frs-core:PlantMachinery 2023-07-31 04039180 frs-core:PlantMachinery 2022-08-01 2023-07-31 04039180 frs-core:PlantMachinery 2022-07-31 04039180 frs-core:ShareCapital 2023-07-31 04039180 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 04039180 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04039180 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 04039180 frs-bus:SmallEntities 2022-08-01 2023-07-31 04039180 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 04039180 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 04039180 frs-bus:Director1 2022-08-01 2023-07-31 04039180 frs-bus:Director2 2022-08-01 2023-07-31 04039180 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 04039180 frs-countries:EnglandWales 2022-08-01 2023-07-31 04039180 2021-07-31 04039180 2022-07-31 04039180 2021-08-01 2022-07-31 04039180 frs-core:CurrentFinancialInstruments 2022-07-31 04039180 frs-core:Non-currentFinancialInstruments 2022-07-31 04039180 frs-core:ShareCapital 2022-07-31 04039180 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 04039180
Unit 8 Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Sarah Redfern
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04039180
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 60,275 74,427
60,275 74,427
CURRENT ASSETS
Stocks 6 10,000 3,700
Debtors 7 67,261 40,606
Cash at bank and in hand 34,087 72,057
111,348 116,363
Creditors: Amounts Falling Due Within One Year 8 (53,776 ) (52,095 )
NET CURRENT ASSETS (LIABILITIES) 57,572 64,268
TOTAL ASSETS LESS CURRENT LIABILITIES 117,847 138,695
Creditors: Amounts Falling Due After More Than One Year 9 (43,837 ) (49,284 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,118 ) (12,723 )
NET ASSETS 63,892 76,688
CAPITAL AND RESERVES
Called up share capital 10 75,000 75,000
Profit and Loss Account (11,108 ) 1,688
SHAREHOLDERS' FUNDS 63,892 76,688
Page 1
Page 2
For the year ending 31 July 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
Mr Lee Stewart
Director
03/04/2024
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
Unit 8 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04039180 . The registered office is 12 Beaver Industrial Estate, Liphook, GU30 7EU.
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%
Fixtures & Fittings 20%
Computer Equipment 20%
2.5. 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.
2.6. 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
Page 3
Page 4
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 7 7
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 51,270
As at 31 July 2023 51,270
Amortisation
As at 1 August 2022 51,270
As at 31 July 2023 51,270
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 194,846 55,381 54,080 304,307
Additions - - 916 916
As at 31 July 2023 194,846 55,381 54,996 305,223
Depreciation
As at 1 August 2022 134,108 51,502 44,270 229,880
Provided during the period 11,916 1,007 2,145 15,068
As at 31 July 2023 146,024 52,509 46,415 244,948
Net Book Value
As at 31 July 2023 48,822 2,872 8,581 60,275
As at 1 August 2022 60,738 3,879 9,810 74,427
6. Stocks
2023 2022
£ £
Materials 10,000 3,700
Page 4
Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 38,680 36,861
Prepayments and accrued income 3,284 3,645
Other debtors - 100
Directors' loan accounts 18,913 -
60,877 40,606
Due after more than one year
Corporation tax recoverable assets 6,384 -
6,384 -
67,261 40,606
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 23,023 20,328
Corporation tax 6,345 5,095
Other taxes and social security 2,137 1,914
VAT 17,245 15,072
Other creditors 1,126 2,575
Accruals and deferred income 3,900 6,900
Directors' loan accounts - 211
53,776 52,095
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 43,837 49,284
43,837 49,284
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 75,000 75,000
Page 5