Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 August 2023 31 August 2023 10997234 Mr Glen Drysdale Mrs Julia Drysdale iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10997234 2022-10-31 10997234 2023-08-31 10997234 2022-11-01 2023-08-31 10997234 frs-core:CurrentFinancialInstruments 2023-08-31 10997234 frs-core:Non-currentFinancialInstruments 2023-08-31 10997234 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-08-31 10997234 frs-core:OtherResidualIntangibleAssets 2023-08-31 10997234 frs-core:OtherResidualIntangibleAssets 2022-11-01 2023-08-31 10997234 frs-core:OtherResidualIntangibleAssets 2022-10-31 10997234 frs-core:PlantMachinery 2023-08-31 10997234 frs-core:PlantMachinery 2022-11-01 2023-08-31 10997234 frs-core:PlantMachinery 2022-10-31 10997234 frs-core:ShareCapital 2023-08-31 10997234 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 10997234 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-08-31 10997234 frs-bus:FilletedAccounts 2022-11-01 2023-08-31 10997234 frs-bus:SmallEntities 2022-11-01 2023-08-31 10997234 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-08-31 10997234 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-08-31 10997234 frs-bus:Director1 2022-11-01 2023-08-31 10997234 frs-bus:Director2 2022-11-01 2023-08-31 10997234 frs-countries:EnglandWales 2022-11-01 2023-08-31 10997234 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2022-10-31 10997234 2021-10-31 10997234 2022-10-31 10997234 2021-11-01 2022-10-31 10997234 frs-core:CurrentFinancialInstruments 2022-10-31 10997234 frs-core:Non-currentFinancialInstruments 2022-10-31 10997234 frs-core:ShareCapital 2022-10-31 10997234 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 10997234
The Red Seagull Limited
Unaudited Financial Statements
For the Period 1 November 2022 to 31 August 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10997234
31 August 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,625 7,875
Tangible Assets 5 119,719 141,891
126,344 149,766
CURRENT ASSETS
Stocks 4,761 4,761
Debtors 6 195,827 173,916
Cash at bank and in hand 93,601 139,605
294,189 318,282
Creditors: Amounts Falling Due Within One Year 7 (139,538 ) (166,392 )
NET CURRENT ASSETS (LIABILITIES) 154,651 151,890
TOTAL ASSETS LESS CURRENT LIABILITIES 280,995 301,656
Creditors: Amounts Falling Due After More Than One Year 8 (97,167 ) (119,250 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,820 ) (29,461 )
NET ASSETS 159,008 152,945
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 158,908 152,845
SHAREHOLDERS' FUNDS 159,008 152,945
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For the period ending 31 August 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 Glen Drysdale
Director
29/05/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Red Seagull Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10997234 . The registered office is 36 UNION STREET, RYDE, ISLE OF WIGHT, PO33 2LE.
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.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to the profit and loss account over its estimated economic life of 10 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 10% on cost, 25% reducing balance
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.
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.
2.7. 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.
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2.8. 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 period was: 27 (2022: 27)
27 27
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 November 2022 15,000
As at 31 August 2023 15,000
Amortisation
As at 1 November 2022 7,125
Provided during the period 1,250
As at 31 August 2023 8,375
Net Book Value
As at 31 August 2023 6,625
As at 1 November 2022 7,875
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 November 2022 269,730
As at 31 August 2023 269,730
Depreciation
As at 1 November 2022 127,839
Provided during the period 22,172
As at 31 August 2023 150,011
Net Book Value
As at 31 August 2023 119,719
As at 1 November 2022 141,891
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6. Debtors
31 August 2023 31 October 2022
£ £
Due within one year
Trade debtors 14,321 21,369
Other debtors 181,506 152,547
195,827 173,916
7. Creditors: Amounts Falling Due Within One Year
31 August 2023 31 October 2022
£ £
Trade creditors 24,440 21,302
Bank loans and overdrafts 26,500 26,500
Other creditors 45,458 24,926
Taxation and social security 43,140 93,664
139,538 166,392
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2023 31 October 2022
£ £
Bank loans 97,167 119,250
97,167 119,250
Of the creditors falling due after more than one year the following amounts are due after more than five years.
31 August 2023 31 October 2022
£ £
Bank loans - 13,250
9. Secured Creditors
Of the creditors the following amounts are secured.
31 August 2023 31 October 2022
£ £
Bank loans and overdrafts 123,667 145,750
10. Share Capital
31 August 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are loans to directors of £115,854 (2022: £103,842). During the year, amounts were advanced to the directors totalling £12,012. The loans are unsecured, interest free and repayable on demand.
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