Acorah Software Products - Accounts Production 15.0.500 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12127984 Mr B A Gammon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12127984 2022-07-31 12127984 2023-07-31 12127984 2022-08-01 2023-07-31 12127984 frs-core:CurrentFinancialInstruments 2023-07-31 12127984 frs-core:Non-currentFinancialInstruments 2023-07-31 12127984 frs-core:PlantMachinery 2023-07-31 12127984 frs-core:PlantMachinery 2022-08-01 2023-07-31 12127984 frs-core:PlantMachinery 2022-07-31 12127984 frs-core:ShareCapital 2023-07-31 12127984 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12127984 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12127984 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12127984 frs-bus:SmallEntities 2022-08-01 2023-07-31 12127984 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12127984 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12127984 frs-bus:Director1 2022-08-01 2023-07-31 12127984 frs-countries:EnglandWales 2022-08-01 2023-07-31 12127984 2021-07-31 12127984 2022-07-31 12127984 2021-08-01 2022-07-31 12127984 frs-core:CurrentFinancialInstruments 2022-07-31 12127984 frs-core:Non-currentFinancialInstruments 2022-07-31 12127984 frs-core:ShareCapital 2022-07-31 12127984 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 12127984
Swedx UK ltd
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: 12127984
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,192 6,490
5,192 6,490
CURRENT ASSETS
Stocks 5 80,235 79,231
Debtors 6 110,335 356,904
Cash at bank and in hand 3,980 3,336
194,550 439,471
Creditors: Amounts Falling Due Within One Year 7 (140,199 ) (378,002 )
NET CURRENT ASSETS (LIABILITIES) 54,351 61,469
TOTAL ASSETS LESS CURRENT LIABILITIES 59,543 67,959
Creditors: Amounts Falling Due After More Than One Year 8 (19,166 ) (51,838 )
NET ASSETS 40,377 16,121
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 40,375 16,119
SHAREHOLDERS' FUNDS 40,377 16,121
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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 B A Gammon
Director
30 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Swedx UK ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12127984 . The registered office is 41-42 Block 7 Old Mill Lane Industrial Estate, Mansfield Woodhouse, Mansfield, NG19 9BG.
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. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2022 10,141
As at 31 July 2023 10,141
Depreciation
As at 1 August 2022 3,651
Provided during the period 1,298
As at 31 July 2023 4,949
Net Book Value
As at 31 July 2023 5,192
As at 1 August 2022 6,490
5. Stocks
2023 2022
£ £
Stock 80,235 79,231
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 80,239 347,666
Other debtors 30,096 9,238
110,335 356,904
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 19,288 15,518
Bank loans and overdrafts 10,000 10,000
Other creditors 83,798 261,354
Taxation and social security 27,113 91,130
140,199 378,002
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 1-2 years 19,166 29,166
Amounts owed to group undertakings - 22,672
19,166 51,838
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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