Acorah Software Products - Accounts Production 14.5.601 false true true 31 May 2021 1 June 2020 false 1 June 2021 31 May 2022 31 May 2022 08632755 Mr M J Hatcher Mrs S K Hatcher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08632755 2021-05-31 08632755 2022-05-31 08632755 2021-06-01 2022-05-31 08632755 frs-core:CurrentFinancialInstruments 2022-05-31 08632755 frs-core:Non-currentFinancialInstruments 2022-05-31 08632755 frs-core:NetGoodwill 2022-05-31 08632755 frs-core:NetGoodwill 2021-06-01 2022-05-31 08632755 frs-core:NetGoodwill 2021-05-31 08632755 frs-core:MotorVehicles 2022-05-31 08632755 frs-core:MotorVehicles 2021-06-01 2022-05-31 08632755 frs-core:MotorVehicles 2021-05-31 08632755 frs-core:PlantMachinery 2022-05-31 08632755 frs-core:PlantMachinery 2021-06-01 2022-05-31 08632755 frs-core:PlantMachinery 2021-05-31 08632755 frs-core:ShareCapital 2022-05-31 08632755 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31 08632755 frs-bus:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 08632755 frs-bus:FilletedAccounts 2021-06-01 2022-05-31 08632755 frs-bus:SmallEntities 2021-06-01 2022-05-31 08632755 frs-bus:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 08632755 frs-bus:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 08632755 frs-bus:Director1 2021-06-01 2022-05-31 08632755 frs-bus:Director2 2021-06-01 2022-05-31 08632755 frs-countries:EnglandWales 2021-06-01 2022-05-31 08632755 2020-05-31 08632755 2021-05-31 08632755 2020-06-01 2021-05-31 08632755 frs-core:CurrentFinancialInstruments 2021-05-31 08632755 frs-core:Non-currentFinancialInstruments 2021-05-31 08632755 frs-core:ShareCapital 2021-05-31 08632755 frs-core:RetainedEarningsAccumulatedLosses 2021-05-31
Registered number: 08632755
Tool Despatch Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2022
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08632755
2022 2021
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 800
Tangible Assets 5 2,518 2,982
2,518 3,782
CURRENT ASSETS
Stocks 6 137,836 145,044
Debtors 7 36,519 35,152
Cash at bank and in hand 9,944 21,146
184,299 201,342
Creditors: Amounts Falling Due Within One Year 8 (322,740 ) (262,808 )
NET CURRENT ASSETS (LIABILITIES) (138,441 ) (61,466 )
TOTAL ASSETS LESS CURRENT LIABILITIES (135,923 ) (57,684 )
Creditors: Amounts Falling Due After More Than One Year 9 (30,000 ) (40,000 )
NET LIABILITIES (165,923 ) (97,684 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (165,925 ) (97,686 )
SHAREHOLDERS' FUNDS (165,923) (97,684)
Page 1
Page 2
For the year ending 31 May 2022 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
Mrs S K Hatcher
Director
29/02/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tool Despatch Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08632755 . The registered office is Cumberland House, 24-28 Baxter Avenue, Southend on Sea, Essex, SS2 6HZ.
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. Going Concern Disclosure
As at the balance sheet date the company had a net deficiency of assets. The Directors' are aware of this position but are continuing to fully support the company as it is expected to produce a profit in the foreseeable future that will in turn reverse this position. The financial statements are therefore prepared on the going concern basis.
2.3. 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.
2.4. 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 5 years.
2.5. 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% reducing balance
Motor Vehicles 25% reducing balance
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2021: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2021 4,000
As at 31 May 2022 4,000
Amortisation
As at 1 June 2021 3,200
Provided during the period 800
As at 31 May 2022 4,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2021 14,105 2,521 16,626
Additions 375 - 375
As at 31 May 2022 14,480 2,521 17,001
Depreciation
As at 1 June 2021 11,920 1,724 13,644
Provided during the period 640 199 839
As at 31 May 2022 12,560 1,923 14,483
Net Book Value
As at 31 May 2022 1,920 598 2,518
As at 1 June 2021 2,185 797 2,982
Page 4
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6. Stocks
2022 2021
£ £
Stock 137,836 145,044
7. Debtors
2022 2021
£ £
Due within one year
Trade debtors 36,116 35,152
Other debtors 403 -
36,519 35,152
8. Creditors: Amounts Falling Due Within One Year
2022 2021
£ £
Trade creditors 105,336 72,808
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 144,918 142,458
Other creditors 5,144 7,999
Directors' loan accounts 57,342 29,543
322,740 262,808
9. Creditors: Amounts Falling Due After More Than One Year
2022 2021
£ £
Bank loans 30,000 40,000
30,000 40,000
10. Share Capital
2022 2021
£ £
Allotted, Called up and fully paid 2 2
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