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Registered number: 12675673
EJS Leasing Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of EJS Leasing Ltd for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of EJS Leasing Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of EJS Leasing Ltd , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of EJS Leasing Ltd and state those matters that we have agreed to state to the director of EJS Leasing Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EJS Leasing Ltd and its director as a body for our work or for this report.
It is your duty to ensure that EJS Leasing Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of EJS Leasing Ltd . You consider that EJS Leasing Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of EJS Leasing Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
15 April 2024
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
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Balance Sheet
Registered number: 12675673
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 45,948 43,865
45,948 43,865
CURRENT ASSETS
Debtors 5 82,116 83,722
Cash at bank and in hand - 59
82,116 83,781
Creditors: Amounts Falling Due Within One Year 6 (114,797 ) (91,513 )
NET CURRENT ASSETS (LIABILITIES) (32,681 ) (7,732 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,267 36,133
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,011 ) (4,511 )
NET ASSETS 2,256 31,622
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 2,255 31,621
SHAREHOLDERS' FUNDS 2,256 31,622
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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 her 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 J Stanley
Director
15 April 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
EJS Leasing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12675673 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency of the financial statements is the Pound Sterling (£).
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:
Plant & Machinery 20% on reducing balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 54,831
Additions 13,570
As at 31 December 2023 68,401
Depreciation
As at 1 January 2023 10,966
Provided during the period 11,487
As at 31 December 2023 22,453
Net Book Value
As at 31 December 2023 45,948
As at 1 January 2023 43,865
5. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Other debtors 82,116 83,722
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Trade creditors 13,793 226
Bank loans and overdrafts 23 -
Amounts owed to participating interests 83,597 88,177
Other creditors 2,650 3,110
Taxation and social security 14,734 -
114,797 91,513
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 4,511 4,511
Deferred taxation 6,500 6,500
Balance at 31 December 2023 11,011 11,011
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8. Share Capital
31 December 2023 31 December 2022
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Jade Stanley 20,256 37,659 44,175 - 13,740
The above loan is unsecured with interest charged at 4.25%. It was repaid in full on 11 April 2024.
10. Related Party Transactions
During the period, total dividends of £44,175 were paid to the director.
The company has loaned money from other companies of which the director has full control. At the end of the year these loans totalled £27,479 (2022 -  £76,689). These loans are unsecured, interest free, and repayable on demand.
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