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Registered number: 06350135
The Tiny Box Company Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Laquna Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06350135
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 33,611 51,944
Tangible Assets 5 158,739 147,818
Investments 6 300 300
192,650 200,062
CURRENT ASSETS
Stocks 7 1,769,991 1,556,367
Debtors 8 616,175 414,755
Cash at bank and in hand 1,270,563 1,063,215
3,656,729 3,034,337
Creditors: Amounts Falling Due Within One Year 9 (1,246,647 ) (1,020,417 )
NET CURRENT ASSETS (LIABILITIES) 2,410,082 2,013,920
TOTAL ASSETS LESS CURRENT LIABILITIES 2,602,732 2,213,982
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,026 ) (28,095 )
NET ASSETS 2,581,706 2,185,887
CAPITAL AND RESERVES
Called up share capital 11 491 491
Share premium account 59,784 59,784
Capital redemption reserve 49 49
Profit and Loss Account 2,521,382 2,125,563
SHAREHOLDERS' FUNDS 2,581,706 2,185,887
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 Rachel Gaisburgh-Watkyn
Director
31/07/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Tiny Box Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06350135 . The registered office is Tiny Box House, Unit 1&2 Bluebell Industrial Estate, Uckfield, East Sussex, TN22 3HQ.
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 - Other Intangible
Other intangible assets represent the investment in the trading website. It is amortised to the Profit and Loss Account over its estimated economic life of 3 years.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. 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 over 10 years
Motor Vehicles over 5 years
Fixtures & Fittings over 3 years
Computer Equipment over 3 years
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 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: 67 (2022: 67)
67 67
4. Intangible Assets
Development Costs
£
Cost
As at 1 November 2022 55,000
As at 31 October 2023 55,000
Amortisation
As at 1 November 2022 3,056
Provided during the period 18,333
As at 31 October 2023 21,389
Net Book Value
As at 31 October 2023 33,611
As at 1 November 2022 51,944
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 177,906 94,266 4,493 44,176 320,841
Additions 22,029 27,500 - 10,166 59,695
As at 31 October 2023 199,935 121,766 4,493 54,342 380,536
...CONTINUED
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Page 5
Depreciation
As at 1 November 2022 102,232 41,802 2,453 26,536 173,023
Provided during the period 17,209 17,565 1,668 12,332 48,774
As at 31 October 2023 119,441 59,367 4,121 38,868 221,797
Net Book Value
As at 31 October 2023 80,494 62,399 372 15,474 158,739
As at 1 November 2022 75,674 52,464 2,040 17,640 147,818
6. Investments
Subsidiaries
£
Cost
As at 1 November 2022 300
As at 31 October 2023 300
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 300
As at 1 November 2022 300
The company's investments at the Balance Sheet date in the share capital of companies include the following:
Tiny Box Maker Limited
Registered office: United Kingdom
Nature of business: Box Manufacturer
100 Ordinary shares representing a 100% holding.
31.10.23 
Aggregate capital and reserves 393,649 (Loss)/Profit for the year 30,685 
31.10.22
Aggregate capital and reserves 362,964 (Loss)/Profit for the year (13,619)
Indiki Limited
Registered office: United Kingdom
Nature of business: Personalised Printing
100 Ordinary shares representing a 100% holding.
31.10.23 
Aggregate capital and reserves (75,451)  (Loss)/Profit for the year (160) 
31.10.22
Aggregate capital and reserves (75,291) (Loss)/Profit for the year  (260)
Tiny Marketplace Limited
Registered office: United Kingdom
Nature of business: Online Marketplace
100 Ordinary shares representing a 100% holding.
31.10.23 
Aggregate capital and reserves 100 
31.10.22
Aggregate capital and reserves 100 
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7. Stocks
2023 2022
£ £
Stock 1,769,991 1,556,367
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 258,381 134,560
Amounts owed by group undertakings 94,546 91,467
Other debtors 252,316 188,728
605,243 414,755
Due after more than one year
Other debtors 10,932 -
616,175 414,755
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 60
Trade creditors 300,098 169,849
Amounts owed to group undertakings 319,297 175,944
Other creditors 252,334 337,841
Taxation and social security 374,918 336,723
1,246,647 1,020,417
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 60
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 491 491
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