Acorah Software Products - Accounts Production 14.5.501 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 09743772 Mr Ian Foyle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09743772 2022-08-31 09743772 2023-08-31 09743772 2022-09-01 2023-08-31 09743772 frs-core:CurrentFinancialInstruments 2023-08-31 09743772 frs-core:ComputerEquipment 2023-08-31 09743772 frs-core:ComputerEquipment 2022-09-01 2023-08-31 09743772 frs-core:ComputerEquipment 2022-08-31 09743772 frs-core:ShareCapital 2023-08-31 09743772 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 09743772 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09743772 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 09743772 frs-bus:SmallEntities 2022-09-01 2023-08-31 09743772 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09743772 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 09743772 frs-bus:Director1 2022-09-01 2023-08-31 09743772 frs-core:CurrentFinancialInstruments 1 2023-08-31 09743772 frs-countries:EnglandWales 2022-09-01 2023-08-31 09743772 2021-08-31 09743772 2022-08-31 09743772 2021-09-01 2022-08-31 09743772 frs-core:CurrentFinancialInstruments 2022-08-31 09743772 frs-core:ShareCapital 2022-08-31 09743772 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 09743772 frs-core:CurrentFinancialInstruments 1 2022-08-31
Registered number: 09743772
Headway Plumbing and Pipefitting Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Smarter Accounting
5 Den Road
Teignmouth
TQ14 8AR
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09743772
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 806 -
806 -
CURRENT ASSETS
Debtors 5 12,815 3,359
Cash at bank and in hand 12,997 12,746
25,812 16,105
Creditors: Amounts Falling Due Within One Year 6 (4,243 ) (5,408 )
NET CURRENT ASSETS (LIABILITIES) 21,569 10,697
TOTAL ASSETS LESS CURRENT LIABILITIES 22,375 10,697
PROVISIONS FOR LIABILITIES
Deferred Taxation (153 ) -
NET ASSETS 22,222 10,697
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 22,221 10,696
SHAREHOLDERS' FUNDS 22,222 10,697
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For the year ending 31 August 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
Mr Ian Foyle
Director
9 April 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
Headway Plumbing and Pipefitting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09743772 . The registered office is 5 Den Road, Teignmouth, Devon, TQ14 8AR.
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:
Computer Equipment 33% Staright Line
2.4. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 -
Manufacturing 1 1
2 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2022 900
Additions 1,209
As at 31 August 2023 2,109
Depreciation
As at 1 September 2022 900
Provided during the period 403
As at 31 August 2023 1,303
Net Book Value
As at 31 August 2023 806
As at 1 September 2022 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,092 -
CIS Sufferred 11,723 3,359
12,815 3,359
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 2,806 3,987
Other taxes and social security 210 -
Other creditors 1,128 1,014
Director's loan account 99 407
4,243 5,408
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
8. Related Party Transactions
At the year end, 31 August 2023, the company owed the directors £99 (2022: £407) in respect of loans held with the company. These amounts are interest free and repayable on demand.
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