Acorah Software Products - Accounts Production 15.0.400 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 12238337 Ms Amanda Burke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12238337 2022-10-31 12238337 2023-10-31 12238337 2022-11-01 2023-10-31 12238337 frs-core:CurrentFinancialInstruments 2023-10-31 12238337 frs-core:Non-currentFinancialInstruments 2023-10-31 12238337 frs-core:ComputerEquipment 2023-10-31 12238337 frs-core:ComputerEquipment 2022-11-01 2023-10-31 12238337 frs-core:ComputerEquipment 2022-10-31 12238337 frs-core:PlantMachinery 2023-10-31 12238337 frs-core:PlantMachinery 2022-11-01 2023-10-31 12238337 frs-core:PlantMachinery 2022-10-31 12238337 frs-core:ShareCapital 2023-10-31 12238337 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 12238337 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 12238337 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 12238337 frs-bus:SmallEntities 2022-11-01 2023-10-31 12238337 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 12238337 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 12238337 frs-bus:Director1 2022-11-01 2023-10-31 12238337 frs-core:CurrentFinancialInstruments 2 2023-10-31 12238337 frs-countries:EnglandWales 2022-11-01 2023-10-31 12238337 2021-10-31 12238337 2022-10-31 12238337 2021-11-01 2022-10-31 12238337 frs-core:CurrentFinancialInstruments 2022-10-31 12238337 frs-core:Non-currentFinancialInstruments 2022-10-31 12238337 frs-core:ShareCapital 2022-10-31 12238337 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 12238337 frs-core:CurrentFinancialInstruments 1 2022-10-31 12238337 frs-core:CurrentFinancialInstruments 2 2022-10-31
Registered number: 12238337
Exit31 Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12238337
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,451 4,601
3,451 4,601
CURRENT ASSETS
Stocks 5 - 1,361
Debtors 6 2,554 2,180
Cash at bank and in hand 305 1,175
2,859 4,716
Creditors: Amounts Falling Due Within One Year 7 (24,113 ) (18,160 )
NET CURRENT ASSETS (LIABILITIES) (21,254 ) (13,444 )
TOTAL ASSETS LESS CURRENT LIABILITIES (17,803 ) (8,843 )
Creditors: Amounts Falling Due After More Than One Year 8 (37,385 ) (36,694 )
NET LIABILITIES (55,188 ) (45,537 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (55,288 ) (45,637 )
SHAREHOLDERS' FUNDS (55,188) (45,537)
Page 1
Page 2
For the year ending 31 October 2023 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
Ms Amanda Burke
Director
30/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Exit31 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12238337 . The registered office is Unit 11 Renishaw Business Park, Ravenshorn Way, Renishaw, Sheffield, S21 3WY.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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.
2.4. 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 25% reducing
Computer Equipment 25% reducing
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 4)
1 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 5,672 1,259 6,931
As at 31 October 2023 5,672 1,259 6,931
Depreciation
As at 1 November 2022 2,015 315 2,330
Provided during the period 914 236 1,150
As at 31 October 2023 2,929 551 3,480
...CONTINUED
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Net Book Value
As at 31 October 2023 2,743 708 3,451
As at 1 November 2022 3,657 944 4,601
5. Stocks
2023 2022
£ £
Stock - 1,361
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,554 -
Other debtors - 1,300
VAT - 880
2,554 2,180
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security 4,010 8,856
VAT 68 -
Other creditors (1) - 22
Other creditors (2) 19,989 9,236
Accruals and deferred income 46 46
24,113 18,160
Included in other creditors (2) are the following amounts to companies which have a connection with Exit31 Ltd:
£11,291- Lilys Boutique Retail Ltd, (£4,304: 2022)
£5,850 - Ruby Prom Ltd, (£500: 2022)
Also included in other creditors (2) is an amount of £2,847 (£4183: 2022) that is owed to directors.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 37,385 36,694
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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