Acorah Software Products - Accounts Production 14.5.501 false true 31 March 2022 1 April 2021 false 1 April 2022 31 March 2023 31 March 2023 06544602 Mr Darren Owen Mr Gerald Owen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06544602 2022-03-31 06544602 2023-03-31 06544602 2022-04-01 2023-03-31 06544602 frs-core:CurrentFinancialInstruments 2023-03-31 06544602 frs-core:Non-currentFinancialInstruments 2023-03-31 06544602 frs-core:FurnitureFittings 2023-03-31 06544602 frs-core:FurnitureFittings 2022-04-01 2023-03-31 06544602 frs-core:FurnitureFittings 2022-03-31 06544602 frs-core:NetGoodwill 2023-03-31 06544602 frs-core:NetGoodwill 2022-04-01 2023-03-31 06544602 frs-core:NetGoodwill 2022-03-31 06544602 frs-core:MotorVehicles 2023-03-31 06544602 frs-core:MotorVehicles 2022-04-01 2023-03-31 06544602 frs-core:MotorVehicles 2022-03-31 06544602 frs-core:PlantMachinery 2023-03-31 06544602 frs-core:PlantMachinery 2022-04-01 2023-03-31 06544602 frs-core:PlantMachinery 2022-03-31 06544602 frs-core:ShareCapital 2023-03-31 06544602 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06544602 frs-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06544602 frs-bus:FilletedAccounts 2022-04-01 2023-03-31 06544602 frs-bus:SmallEntities 2022-04-01 2023-03-31 06544602 frs-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06544602 frs-bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06544602 frs-bus:Director1 2022-04-01 2023-03-31 06544602 frs-bus:Director1 2022-03-31 06544602 frs-bus:Director1 2023-03-31 06544602 frs-bus:Director2 2022-04-01 2023-03-31 06544602 frs-countries:EnglandWales 2022-04-01 2023-03-31 06544602 2021-03-31 06544602 2022-03-31 06544602 2021-04-01 2022-03-31 06544602 frs-core:CurrentFinancialInstruments 2022-03-31 06544602 frs-core:Non-currentFinancialInstruments 2022-03-31 06544602 frs-core:ShareCapital 2022-03-31 06544602 frs-core:RetainedEarningsAccumulatedLosses 2022-03-31 06544602 frs-core:CurrentFinancialInstruments 1 2022-03-31
Registered number: 06544602
Owen & Son Limited
Unaudited Financial Statements
For The Year Ended 31 March 2023
Willingstone Business Services
2 Willingstone Cottages
Moretonhampstead
Newton Abbot
TQ13 8PY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06544602
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 52,149 17,640
52,149 17,640
CURRENT ASSETS
Stocks 6 18,000 22,500
Debtors 7 12,382 3,734
Cash at bank and in hand 63,392 75,641
93,774 101,875
Creditors: Amounts Falling Due Within One Year 8 (37,008 ) (55,071 )
NET CURRENT ASSETS (LIABILITIES) 56,766 46,804
TOTAL ASSETS LESS CURRENT LIABILITIES 108,915 64,444
Creditors: Amounts Falling Due After More Than One Year 9 (34,167 ) (39,167 )
NET ASSETS 74,748 25,277
CAPITAL AND RESERVES
Called up share capital 10 99 99
Profit and Loss Account 74,649 25,178
SHAREHOLDERS' FUNDS 74,748 25,277
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For the year ending 31 March 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 Darren Owen
Director
23/04/2024
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
Owen & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06544602 . The registered office is 22 Woodbury View, Exeter, Devon, EX2 9JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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 15.... 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 25
Motor Vehicles 25
Fixtures & Fittings 25
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was one 3 (2022: 2)
3 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2022 6,000
As at 31 March 2023 6,000
Amortisation
As at 1 April 2022 6,000
Provided during the period -
As at 31 March 2023 6,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2022 20,731 36,980 3,415 61,126
Additions 16,947 44,847 - 61,794
As at 31 March 2023 37,678 81,827 3,415 122,920
Depreciation
As at 1 April 2022 10,516 30,327 2,643 43,486
Provided during the period 3,108 24,087 90 27,285
As at 31 March 2023 13,624 54,414 2,733 70,771
Net Book Value
As at 31 March 2023 24,054 27,413 682 52,149
As at 1 April 2022 10,215 6,653 772 17,640
6. Stocks
2023 2022
£ £
Materials 1,500 1,500
Work in progress 16,500 21,000
18,000 22,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,359 -
Prepayments and accrued income 272 384
Net wages - 1,616
Directors' loan accounts 9,751 1,734
12,382 3,734
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16,230 2,931
Bank loans and overdrafts 6,592 1,011
Other loans - 5,000
Other taxes and social security 6,832 2,808
VAT 2,585 4,881
Net wages 4,269 -
Other creditors (1) - 37,940
Accruals and deferred income 500 500
37,008 55,071
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 34,167 39,167
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 99 99
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2022 Amounts advanced Amounts repaid Amounts written off As at 31 March 2023
£ £ £ £ £
Mr Darren Owen 1,734 8,136 120 - 9,750
The above loan is unsecured, interest free and repayable on demand.
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