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 08034646 Mr Sean Eaton Mr Amos Eaton Mr Sean Eaton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08034646 2022-07-31 08034646 2023-07-31 08034646 2022-08-01 2023-07-31 08034646 frs-core:CurrentFinancialInstruments 2023-07-31 08034646 frs-core:NetGoodwill 2023-07-31 08034646 frs-core:NetGoodwill 2022-08-01 2023-07-31 08034646 frs-core:NetGoodwill 2022-07-31 08034646 frs-core:MotorVehicles 2023-07-31 08034646 frs-core:MotorVehicles 2022-08-01 2023-07-31 08034646 frs-core:MotorVehicles 2022-07-31 08034646 frs-core:PlantMachinery 2023-07-31 08034646 frs-core:PlantMachinery 2022-08-01 2023-07-31 08034646 frs-core:PlantMachinery 2022-07-31 08034646 frs-core:ShareCapital 2023-07-31 08034646 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 08034646 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08034646 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 08034646 frs-bus:SmallEntities 2022-08-01 2023-07-31 08034646 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08034646 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 08034646 frs-bus:Director1 2022-08-01 2023-07-31 08034646 frs-bus:Director2 2022-08-01 2023-07-31 08034646 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 08034646 frs-countries:EnglandWales 2022-08-01 2023-07-31 08034646 2021-07-31 08034646 2022-07-31 08034646 2021-08-01 2022-07-31 08034646 frs-core:CurrentFinancialInstruments 2022-07-31 08034646 frs-core:ShareCapital 2022-07-31 08034646 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 08034646
R Eaton & Sons Ltd
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08034646
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,000 28,000
Tangible Assets 5 39,523 30,610
64,523 58,610
CURRENT ASSETS
Debtors 6 3,044 -
Cash at bank and in hand 55,073 113,919
58,117 113,919
Creditors: Amounts Falling Due Within One Year 7 (111,389 ) (113,097 )
NET CURRENT ASSETS (LIABILITIES) (53,272 ) 822
TOTAL ASSETS LESS CURRENT LIABILITIES 11,251 59,432
NET ASSETS 11,251 59,432
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 11,249 59,430
SHAREHOLDERS' FUNDS 11,251 59,432
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 Sean Eaton
Director
16th April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
R Eaton & Sons Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08034646 . The registered office is Gallagher House, 8-10 Market Street, Wirral, Merseyside, CH41 5ER.
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 15% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
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 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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 55,000
As at 31 July 2023 55,000
Amortisation
As at 1 August 2022 27,000
Provided during the period 3,000
As at 31 July 2023 30,000
Net Book Value
As at 31 July 2023 25,000
As at 1 August 2022 28,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2022 59,037 32,526 91,563
Additions - 19,000 19,000
As at 31 July 2023 59,037 51,526 110,563
Depreciation
As at 1 August 2022 35,888 25,065 60,953
Provided during the period 3,472 6,615 10,087
As at 31 July 2023 39,360 31,680 71,040
Net Book Value
As at 31 July 2023 19,677 19,846 39,523
As at 1 August 2022 23,149 7,461 30,610
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,680 -
Other taxes and social security 1,364 -
3,044 -
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,120 477
Corporation tax 7,411 23,397
Other taxes and social security - 1,882
VAT 18,528 23,519
Net wages 1,144 982
Accruals and deferred income 3,840 2,215
Directors' loan accounts 59,346 60,625
111,389 113,097
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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