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Registered number: 10352868
Old Stamp House Restaurant Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Hanley & Co
25 Main Street
Staveley
Kendal
Cumbria
LA8 9LU
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 10352868
2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 28,330 37,774
Tangible Assets 5 149,160 131,161
Investments 6 100 100
177,590 169,035
CURRENT ASSETS
Stocks 7 13,287 9,281
Debtors 8 22,024 78,919
Cash at bank and in hand 344,705 140,516
380,016 228,716
Creditors: Amounts Falling Due Within One Year 9 (330,626 ) (228,552 )
NET CURRENT ASSETS (LIABILITIES) 49,390 164
TOTAL ASSETS LESS CURRENT LIABILITIES 226,980 169,199
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,125 ) (24,198 )
NET ASSETS 198,855 145,001
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 198,755 144,901
SHAREHOLDERS' FUNDS 198,855 145,001
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For the year ending 30 September 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 Income Statement.
On behalf of the board
Mr R P Blackburn
Director
29/02/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Old Stamp House Restaurant Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10352868 . The registered office is 25 Main Street, Staveley, Kendal, Cumbria, LA8 9LU.
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 income statement over its estimated economic life of 10 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:
Leasehold over term of lease
Fixtures & Fittings 20% reducing balance basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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 income statement 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 income statement as incurred.
2.6. 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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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.9. Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any impairment losses. Listed investments are measured at fair value with charges in fair value being recognised in profit or loss.
2.10. Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
3. Average Number of Employees
Average number of employees during the year was: 7 (2022: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2022 94,438
As at 30 September 2023 94,438
Amortisation
As at 1 October 2022 56,664
Provided during the period 9,444
As at 30 September 2023 66,108
Net Book Value
As at 30 September 2023 28,330
As at 1 October 2022 37,774
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5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 October 2022 35,112 162,557 197,669
Additions 5,770 37,414 43,184
As at 30 September 2023 40,882 199,971 240,853
Depreciation
As at 1 October 2022 2,168 64,340 66,508
Provided during the period 3,222 21,963 25,185
As at 30 September 2023 5,390 86,303 91,693
Net Book Value
As at 30 September 2023 35,492 113,668 149,160
As at 1 October 2022 32,944 98,217 131,161
6. Investments
Subsidiaries
£
Cost
As at 1 October 2022 100
As at 30 September 2023 100
Provision
As at 1 October 2022 -
As at 30 September 2023 -
Net Book Value
As at 30 September 2023 100
As at 1 October 2022 100
7. Stocks
2023 2022
as restated
£ £
Stock 13,287 9,281
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8. Debtors
2023 2022
as restated
£ £
Due within one year
Prepayments and accrued income 8,659 952
Other debtors - 77,967
Amounts owed by subsidiaries 13,365 -
22,024 78,919
9. Creditors: Amounts Falling Due Within One Year
2023 2022
as restated
£ £
Trade creditors 35,024 35,802
Corporation tax 55,958 22,500
Other taxes and social security 7,702 -
VAT 33,249 25,019
Other creditors 2,821 2,669
Accruals and deferred income 49,428 3,254
Directors' loan accounts 113,878 106,282
Amounts owed to subsidiaries 32,566 33,026
330,626 228,552
10. Share Capital
2023 2022
as restated
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
as restated
£ £
Not later than one year 28 196
Later than one year and not later than five years 55,667 12,622
Later than five years 215,225 237,025
270,920 249,843
12. Pension Commitments
The company operates a defined contribution pension scheme with National Employment Savings Trust (NEST) for its employees to meet its obligations under pension auto enrolment. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £1,115 (PY : £1,203) were due to the fund. They are included in Other Creditors.
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13. Transition to FRS 102
The company has transitioned from reporting under FRS105 (micro entity regime) to reporting under FRS102 1A. The year of transition is the year ended 30 Septemebr 2023. This requires the company to also restate the comparative figures for the immediately preceeding accounting period. A reconciliation of the effects of the transition is provided below:
Reconciliation of equity 
Capital & reserves (as previously stated) on 01/10/21 was £67,601 (30/09/22 - £169,199).
Deferred tax on qualifying fixed assets now provided for (see note below) as at 01/10/21 was £6,441 (30/09/22 - £24,198).
Capital & reserves (as restated) on 01/10/21 is now £61,160 (30/09/22 - £145,001).
Reconciliation of profit or loss for the year ended 30 September 2022
Profit for the year ended 30 September 2022 as previously reported was £101,596.
Deferred tax now provided on qualifying fixed assets (see note below) £17,757.
Profit for the year ended 30 September 2022 (as restated) £83,839.
Notes to the reconciliations
Deferred tax on qualifying fixed assets is required to be recognised under FRS102 1A whereas there was no such requirement under FRS105. Consequently deferred tax of £6,441 was recognised on 1 October 2021 and an additional provision of £17,757 has been recognised at 30 September 2022. The effect on profit is a reduction in profit of £17,757 for the year ended 30 September 2022.
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