Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04381037 Mr I E Norman Mr K J Norman Miss L A Norman Mr P E Norman Mr P E Norman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04381037 2023-03-31 04381037 2024-03-31 04381037 2023-04-01 2024-03-31 04381037 frs-core:CurrentFinancialInstruments 2024-03-31 04381037 frs-core:ComputerEquipment 2024-03-31 04381037 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04381037 frs-core:ComputerEquipment 2023-03-31 04381037 frs-core:FurnitureFittings 2024-03-31 04381037 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04381037 frs-core:FurnitureFittings 2023-03-31 04381037 frs-core:ShareCapital 2024-03-31 04381037 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04381037 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04381037 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04381037 frs-bus:SmallEntities 2023-04-01 2024-03-31 04381037 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04381037 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04381037 frs-bus:Director1 2023-04-01 2024-03-31 04381037 frs-bus:Director2 2023-04-01 2024-03-31 04381037 frs-bus:Director3 2023-04-01 2024-03-31 04381037 frs-bus:Director4 2023-04-01 2024-03-31 04381037 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04381037 frs-countries:EnglandWales 2023-04-01 2024-03-31 04381037 2022-03-31 04381037 2023-03-31 04381037 2022-04-01 2023-03-31 04381037 frs-core:CurrentFinancialInstruments 2023-03-31 04381037 frs-core:ShareCapital 2023-03-31 04381037 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04381037
B.E. Norman & Sons Storage Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report of the Accountant to the directors of B.E. Norman & Sons Storage Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
23/07/2024
van Dijk Accountants
Georgian House
34 Thoroughfare
Halesworth
Suffolk
IP19 8AP
Page 1
Page 2
Balance Sheet
Registered number: 04381037
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,339 2,151
28,339 2,151
CURRENT ASSETS
Stocks 5 1,450 1,300
Debtors 6 223,512 164,676
Cash at bank and in hand 65,861 65,887
290,823 231,863
Creditors: Amounts Falling Due Within One Year 7 (225,245 ) (161,899 )
NET CURRENT ASSETS (LIABILITIES) 65,578 69,964
TOTAL ASSETS LESS CURRENT LIABILITIES 93,917 72,115
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,595 ) (409 )
NET ASSETS 87,322 71,706
CAPITAL AND RESERVES
Called up share capital 8 104 104
Profit and Loss Account 87,218 71,602
SHAREHOLDERS' FUNDS 87,322 71,706
Page 2
Page 3
For the year ending 31 March 2024 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 P E Norman
Director
23/07/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
B.E. Norman & Sons Storage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04381037 . The registered office is Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Fixtures & Fittings 15% on reducing balance
Computer Equipment 15% on reducing balance
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.
Page 4
Page 5
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 12,317 5,712 18,029
Additions 26,846 - 26,846
As at 31 March 2024 39,163 5,712 44,875
Depreciation
As at 1 April 2023 10,484 5,394 15,878
Provided during the period 610 48 658
As at 31 March 2024 11,094 5,442 16,536
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 March 2024 28,069 270 28,339
As at 1 April 2023 1,833 318 2,151
5. Stocks
2024 2023
£ £
Stock 1,450 1,300
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 61,174 79,064
Prepayments and accrued income 17,440 15,849
Other debtors 144,898 69,763
223,512 164,676
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 105,979 50,011
Corporation tax 7,181 15,447
VAT 7,367 8,239
Other creditors 39,978 34,462
Directors' loan accounts 64,740 53,740
225,245 161,899
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 104 104
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 35,000 35,000
Page 6