Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 229905 Mr Michael Osborne Mr James Osborne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 229905 2022-10-31 229905 2023-10-31 229905 2022-11-01 2023-10-31 229905 frs-core:CurrentFinancialInstruments 2023-10-31 229905 frs-core:Non-currentFinancialInstruments 2023-10-31 229905 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 229905 frs-core:InvestmentPropertyIncludedWithinPPE 2022-11-01 2023-10-31 229905 frs-core:InvestmentPropertyIncludedWithinPPE 2022-10-31 229905 frs-core:MotorVehicles 2023-10-31 229905 frs-core:MotorVehicles 2022-11-01 2023-10-31 229905 frs-core:MotorVehicles 2022-10-31 229905 frs-core:PlantMachinery 2023-10-31 229905 frs-core:PlantMachinery 2022-11-01 2023-10-31 229905 frs-core:PlantMachinery 2022-10-31 229905 frs-core:ShareCapital 2023-10-31 229905 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 229905 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 229905 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 229905 frs-bus:SmallEntities 2022-11-01 2023-10-31 229905 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 229905 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 229905 frs-core:UnlistedNon-exchangeTraded 2023-10-31 229905 frs-core:UnlistedNon-exchangeTraded 2022-10-31 229905 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-10-31 229905 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2023-10-31 229905 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-10-31 229905 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-10-31 229905 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-10-31 229905 frs-bus:Director1 2022-11-01 2023-10-31 229905 frs-bus:Director2 2022-11-01 2023-10-31 229905 frs-countries:EnglandWales 2022-11-01 2023-10-31 229905 2021-10-31 229905 2022-10-31 229905 2021-11-01 2022-10-31 229905 frs-core:CurrentFinancialInstruments 2022-10-31 229905 frs-core:Non-currentFinancialInstruments 2022-10-31 229905 frs-core:MotorVehicles 2021-11-01 2022-10-31 229905 frs-core:ShareCapital 2022-10-31 229905 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 229905
Osborne & Co. (Warrington) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 229905
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 339,430 1,001,276
Investments 5 - 40,000
339,430 1,041,276
CURRENT ASSETS
Stocks 1,817,689 1,919,705
Debtors 6 869,903 980,043
Cash at bank and in hand 6,916 74,356
2,694,508 2,974,104
Creditors: Amounts Falling Due Within One Year 7 (898,163 ) (1,131,858 )
NET CURRENT ASSETS (LIABILITIES) 1,796,345 1,842,246
TOTAL ASSETS LESS CURRENT LIABILITIES 2,135,775 2,883,522
Creditors: Amounts Falling Due After More Than One Year 8 (982,870 ) (1,035,071 )
NET ASSETS 1,152,905 1,848,451
CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Profit and Loss Account 1,142,905 1,838,451
SHAREHOLDERS' FUNDS 1,152,905 1,848,451
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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
Mr James Osborne
Director
29/07/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Osborne & Co. (Warrington) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 229905 . The registered office is Thelwall New Road, Grappenhall, Warrington, WA4 2LS.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 10%, 12.5% and 20% on cost
Motor Vehicles 20% on cost
2.4. Investment Properties
Investment properties should not be subject to periodic charges for depreciation on the basis set out in SSAP 12, except for properties held on lease which should be depreciated on the basis set out in SSAP 12 at least over the period when the unexpired term is 20 years or less.
Investment properties should be included in the balance sheet at their open market value.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

2.6. 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.
2.7. 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.
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2.8. 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 asset reflects 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Tangible Assets
Investment Properties Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 November 2022 982,416 77,976 75,349 1,135,741
Disposals (652,416 ) - - (652,416 )
As at 31 October 2023 330,000 77,976 75,349 483,325
Depreciation
As at 1 November 2022 - 77,976 56,489 134,465
Provided during the period - - 9,430 9,430
As at 31 October 2023 - 77,976 65,919 143,895
Net Book Value
As at 31 October 2023 330,000 - 9,430 339,430
As at 1 November 2022 982,416 - 18,860 1,001,276
In the opinion of the directors the value of the investment property has not changed from the acquisition cost.
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 5,500 18,860
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5. Investments
Unlisted
£
Cost
As at 1 November 2022 40,000
Disposals (40,000 )
As at 31 October 2023 -
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 40,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 446,742 517,001
Other debtors 151,964 148,627
Corporation tax recoverable assets 38,732 -
VAT 30,099 59,050
Directors' loan accounts 202,366 255,365
869,903 980,043
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,183 10,647
Trade creditors 89,784 79,908
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 46,421 36,813
Other creditors 746,775 994,490
898,163 1,131,858
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,456 8,632
Bank loans 979,414 1,026,439
982,870 1,035,071
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9. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 8,639 19,279
Bank loans and overdrafts 962,896 1,000,000
Other Creditors 707,500 958,224
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10,000 10,000
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
12. Directors Advances, Credits and Guarantees
Included within Debtors is a loan to Mr James Osborne of £202,366 (2022: £255,365). The loan is unsecured, interest free and repayable on demand.
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