Acorah Software Products - Accounts Production 14.5.501 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04154495 M Mustiviy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04154495 2022-12-31 04154495 2023-12-31 04154495 2023-01-01 2023-12-31 04154495 frs-core:CurrentFinancialInstruments 2023-12-31 04154495 frs-core:ComputerEquipment 2023-12-31 04154495 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04154495 frs-core:ComputerEquipment 2022-12-31 04154495 frs-core:FurnitureFittings 2023-12-31 04154495 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04154495 frs-core:FurnitureFittings 2022-12-31 04154495 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04154495 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04154495 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04154495 frs-core:PlantMachinery 2023-12-31 04154495 frs-core:PlantMachinery 2023-01-01 2023-12-31 04154495 frs-core:PlantMachinery 2022-12-31 04154495 frs-core:ShareCapital 2023-12-31 04154495 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04154495 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04154495 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04154495 frs-bus:SmallEntities 2023-01-01 2023-12-31 04154495 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04154495 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04154495 frs-bus:Director1 2023-01-01 2023-12-31 04154495 frs-countries:EnglandWales 2023-01-01 2023-12-31 04154495 2021-12-31 04154495 2022-12-31 04154495 2022-01-01 2022-12-31 04154495 frs-core:CurrentFinancialInstruments 2022-12-31 04154495 frs-core:ShareCapital 2022-12-31 04154495 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04154495
The Kensington Creperie Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04154495
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 144,705 117,660
144,705 117,660
CURRENT ASSETS
Stocks 5 16,199 9,555
Debtors 6 129,296 176,133
Cash at bank and in hand 34,671 232,090
180,166 417,778
Creditors: Amounts Falling Due Within One Year 7 (201,701 ) (149,100 )
NET CURRENT ASSETS (LIABILITIES) (21,535 ) 268,678
TOTAL ASSETS LESS CURRENT LIABILITIES 123,170 386,338
NET ASSETS 123,170 386,338
CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Profit and Loss Account 121,170 384,338
SHAREHOLDERS' FUNDS 123,170 386,338
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Page 2
For the year ending 31 December 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
M Mustiviy
Director
18/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Kensington Creperie Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04154495 . The registered office is 2 Exhibition Road, London, SW7 2HF.
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:
Leasehold Straight line over usefull life
Plant & Machinery 25% Straight line
Fixtures & Fittings 20% Straight line
Computer Equipment 33% 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.
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 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.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2022: 33)
36 33
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 218,339 286,558 16,752 2,247 523,896
Additions 32,820 7,393 620 - 40,833
As at 31 December 2023 251,159 293,951 17,372 2,247 564,729
Depreciation
As at 1 January 2023 122,652 279,658 3,562 364 406,236
Provided during the period 6,426 3,175 3,454 733 13,788
As at 31 December 2023 129,078 282,833 7,016 1,097 420,024
Net Book Value
As at 31 December 2023 122,081 11,118 10,356 1,150 144,705
As at 1 January 2023 95,687 6,900 13,190 1,883 117,660
5. Stocks
2023 2022
£ £
Materials 16,199 9,555
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 50,747
Prepayments and accrued income 91,233 68,943
Other debtors 38,011 56,391
Deferred tax current asset 52 52
129,296 176,133
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 42,122 48,379
Corporation tax 101,488 58,011
Other taxes and social security 26,701 16,964
VAT 27,883 22,346
Other creditors 857 750
Accruals and deferred income 2,650 2,650
201,701 149,100
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,000 2,000
9. Related Party Transactions
At the year end the company was owed £Nil (2022: £50,972) from its immediate parent company.
This amount incurrs interest at the rate of 4% above the Bank of England base rate.
At the year end the company was owed £3,000 (2022: £418) from the director. This amount is interest free and has no fixed repayemnt date.
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