Acorah Software Products - Accounts Production 15.0.400 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 05880390 Mr P J Wragg Mrs K A Wragg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05880390 2022-07-31 05880390 2023-07-31 05880390 2022-08-01 2023-07-31 05880390 frs-core:CurrentFinancialInstruments 2023-07-31 05880390 frs-core:ComputerEquipment 2023-07-31 05880390 frs-core:ComputerEquipment 2022-08-01 2023-07-31 05880390 frs-core:ComputerEquipment 2022-07-31 05880390 frs-core:NetGoodwill 2023-07-31 05880390 frs-core:NetGoodwill 2022-08-01 2023-07-31 05880390 frs-core:NetGoodwill 2022-07-31 05880390 frs-core:MotorVehicles 2023-07-31 05880390 frs-core:MotorVehicles 2022-08-01 2023-07-31 05880390 frs-core:MotorVehicles 2022-07-31 05880390 frs-core:PlantMachinery 2023-07-31 05880390 frs-core:PlantMachinery 2022-08-01 2023-07-31 05880390 frs-core:PlantMachinery 2022-07-31 05880390 frs-core:ShareCapital 2023-07-31 05880390 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 05880390 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05880390 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 05880390 frs-bus:SmallEntities 2022-08-01 2023-07-31 05880390 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05880390 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 05880390 frs-core:DeferredTaxation 2022-08-01 2023-07-31 05880390 frs-core:DeferredTaxation 2022-07-31 05880390 frs-core:DeferredTaxation 2023-07-31 05880390 frs-bus:Director1 2022-08-01 2023-07-31 05880390 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 05880390 frs-countries:EnglandWales 2022-08-01 2023-07-31 05880390 2021-07-31 05880390 2022-07-31 05880390 2021-08-01 2022-07-31 05880390 frs-core:CurrentFinancialInstruments 2022-07-31 05880390 frs-core:Non-currentFinancialInstruments 2022-07-31 05880390 frs-core:ShareCapital 2022-07-31 05880390 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 05880390
Wragg Building & Maintenance Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05880390
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,920 2,273
8,920 2,273
CURRENT ASSETS
Stocks 6 653 620
Debtors 7 15,762 19,285
Cash at bank and in hand 33,297 3,243
49,712 23,148
Creditors: Amounts Falling Due Within One Year 8 (77,968 ) (57,410 )
NET CURRENT ASSETS (LIABILITIES) (28,256 ) (34,262 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,336 ) (31,989 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,695 ) (450 )
NET LIABILITIES (21,031 ) (32,439 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (21,033 ) (32,441 )
SHAREHOLDERS' FUNDS (21,031) (32,439)
Page 1
Page 2
For the year ending 31 July 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 P J Wragg
Director
28 July 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
Wragg Building & Maintenance Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05880390 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency is Pounds 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. 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 .... years.
2.4. 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
Motor Vehicles 25% on reducing balance
Computer Equipment 20% on cost
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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: 3 (2022: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 4,000
As at 31 July 2023 4,000
Amortisation
As at 1 August 2022 4,000
As at 31 July 2023 4,000
Net Book Value
As at 31 July 2023 -
As at 1 August 2022 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 8,400 12,500 864 21,764
Additions - 9,600 - 9,600
As at 31 July 2023 8,400 22,100 864 31,364
Depreciation
As at 1 August 2022 8,086 10,541 864 19,491
Provided during the period 63 2,890 - 2,953
As at 31 July 2023 8,149 13,431 864 22,444
Net Book Value
As at 31 July 2023 251 8,669 - 8,920
As at 1 August 2022 314 1,959 - 2,273
6. Stocks
2023 2022
£ £
Stock 653 620
Page 4
Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 15,620 15,620
Other taxes and social security 142 -
15,762 15,620
Due after more than one year
Corporation tax recoverable assets - 3,665
15,762 19,285
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,164 5,800
Other taxes and social security - 1,036
VAT 59,798 31,078
Accruals and deferred income 14,999 2,036
Director's loan account 7 17,460
77,968 57,410
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2022 450 450
Deferred taxation 1,245 1,245
Balance at 31 July 2023 1,695 1,695
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr P J Wragg 3,680 -
12. Related Party Transactions
The director has made an interest free loan to the company that is repayable on demand.
The amount owing to them at the 31 July 2023 is £7 (2022 - £17,640).
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