Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 26 July 2021 false 1 August 2022 31 July 2023 31 July 2023 13530225 Mr Liam Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13530225 2022-07-31 13530225 2023-07-31 13530225 2022-08-01 2023-07-31 13530225 frs-core:CurrentFinancialInstruments 2023-07-31 13530225 frs-core:FurnitureFittings 2023-07-31 13530225 frs-core:FurnitureFittings 2022-08-01 2023-07-31 13530225 frs-core:FurnitureFittings 2022-07-31 13530225 frs-core:MotorVehicles 2023-07-31 13530225 frs-core:MotorVehicles 2022-08-01 2023-07-31 13530225 frs-core:MotorVehicles 2022-07-31 13530225 frs-core:ShareCapital 2023-07-31 13530225 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 13530225 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 13530225 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 13530225 frs-bus:SmallEntities 2022-08-01 2023-07-31 13530225 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 13530225 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 13530225 frs-bus:Director1 2022-08-01 2023-07-31 13530225 frs-countries:EnglandWales 2022-08-01 2023-07-31 13530225 2021-07-25 13530225 2022-07-31 13530225 2021-07-26 2022-07-31 13530225 frs-core:CurrentFinancialInstruments 2022-07-31 13530225 frs-core:ShareCapital 2022-07-31 13530225 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 13530225
Over Seas Apparel Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13530225
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,460 4,125
7,460 4,125
CURRENT ASSETS
Stocks 5 22,500 15,000
Debtors 6 10,394 -
Cash at bank and in hand 1,045 141
33,939 15,141
Creditors: Amounts Falling Due Within One Year 7 (61,175 ) (35,748 )
NET CURRENT ASSETS (LIABILITIES) (27,236 ) (20,607 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,776 ) (16,482 )
NET LIABILITIES (19,776 ) (16,482 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (19,777 ) (16,483 )
SHAREHOLDERS' FUNDS (19,776) (16,482)
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 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 Liam Jones
Director
26 March 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
Over Seas Apparel Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13530225 . The registered office is 153 Glyn Eiddew, Cardiff, CF23 7BS.
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:
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2022 5,500 - 5,500
Additions - 6,280 6,280
As at 31 July 2023 5,500 6,280 11,780
Depreciation
As at 1 August 2022 1,375 - 1,375
Provided during the period 1,375 1,570 2,945
As at 31 July 2023 2,750 1,570 4,320
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 July 2023 2,750 4,710 7,460
As at 1 August 2022 4,125 - 4,125
5. Stocks
2023 2022
£ £
Stock 22,500 15,000
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 10,394 -
10,394 -
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security 300 479
VAT 15,693 3,996
Accruals and deferred income 1,951 10,200
Director's loan account 43,231 21,073
61,175 35,748
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 4