Acorah Software Products - Accounts Production 14.5.501 false true 31 May 2022 1 June 2021 false 1 June 2022 31 May 2023 31 May 2023 10207328 Mr Daniel Rusu iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10207328 2022-05-31 10207328 2023-05-31 10207328 2022-06-01 2023-05-31 10207328 frs-core:CurrentFinancialInstruments 2023-05-31 10207328 frs-core:FurnitureFittings 2023-05-31 10207328 frs-core:FurnitureFittings 2022-06-01 2023-05-31 10207328 frs-core:FurnitureFittings 2022-05-31 10207328 frs-core:NetGoodwill 2023-05-31 10207328 frs-core:NetGoodwill 2022-06-01 2023-05-31 10207328 frs-core:NetGoodwill 2022-05-31 10207328 frs-core:MotorVehicles 2023-05-31 10207328 frs-core:MotorVehicles 2022-06-01 2023-05-31 10207328 frs-core:MotorVehicles 2022-05-31 10207328 frs-core:PlantMachinery 2023-05-31 10207328 frs-core:PlantMachinery 2022-06-01 2023-05-31 10207328 frs-core:PlantMachinery 2022-05-31 10207328 frs-core:ShareCapital 2023-05-31 10207328 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10207328 frs-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10207328 frs-bus:FilletedAccounts 2022-06-01 2023-05-31 10207328 frs-bus:SmallEntities 2022-06-01 2023-05-31 10207328 frs-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10207328 frs-bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10207328 frs-bus:Director1 2022-06-01 2023-05-31 10207328 frs-core:CurrentFinancialInstruments 1 2023-05-31 10207328 frs-countries:EnglandWales 2022-06-01 2023-05-31 10207328 2021-05-31 10207328 2022-05-31 10207328 2021-06-01 2022-05-31 10207328 frs-core:CurrentFinancialInstruments 2022-05-31 10207328 frs-core:ShareCapital 2022-05-31 10207328 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31 10207328 frs-core:CurrentFinancialInstruments 1 2022-05-31 10207328 frs-core:CurrentFinancialInstruments 4 2022-05-31
Registered number: 10207328
Danny Grocery Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10207328
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,000 50,000
Tangible Assets 5 22,307 24,560
72,307 74,560
CURRENT ASSETS
Stocks 6 50,500 45,500
Debtors 7 13,500 15,570
Cash at bank and in hand 38,607 151,760
102,607 212,830
Creditors: Amounts Falling Due Within One Year 8 (65,143 ) (185,654 )
NET CURRENT ASSETS (LIABILITIES) 37,464 27,176
TOTAL ASSETS LESS CURRENT LIABILITIES 109,771 101,736
NET ASSETS 109,771 101,736
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 109,671 101,636
SHAREHOLDERS' FUNDS 109,771 101,736
Page 1
Page 2
For the year ending 31 May 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 Daniel Rusu
Director
31/01/2024
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
Danny Grocery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10207328 . The registered office is 66 , Elgin Avenue, Harrow, Middlesex, HA3 8QJ.
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 15%
Fixtures & Fittings 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 year 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
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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 asset reflects 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: 7 (2022: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2022 50,000
As at 31 May 2023 50,000
Net Book Value
As at 31 May 2023 50,000
As at 1 June 2022 50,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2022 6,520 13,450 19,889 39,859
Additions - - 2,718 2,718
As at 31 May 2023 6,520 13,450 22,607 42,577
Depreciation
As at 1 June 2022 3,587 3,733 7,979 15,299
Provided during the period 587 1,458 2,926 4,971
As at 31 May 2023 4,174 5,191 10,905 20,270
Net Book Value
As at 31 May 2023 2,346 8,259 11,702 22,307
As at 1 June 2022 2,933 9,717 11,910 24,560
6. Stocks
2023 2022
as restated
£ £
Materials 50,500 45,500
Page 4
Page 5
7. Debtors
2023 2022
as restated
£ £
Due within one year
Other debtors - 2,070
Other debtors (1) 13,500 -
Rent Deposit - 13,500
13,500 15,570
8. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Bank loans and overdrafts 29,591 40,239
Corporation tax 22,883 20,470
Other taxes and social security 798 3,465
Other creditors 11,871 121,480
65,143 185,654
9. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
Paid GBP 20000.00 Dividend to Shareholder
Page 5