Acorah Software Products - Accounts Production 15.0.500 false true true 30 April 2022 1 May 2021 false 1 May 2022 31 October 2023 31 October 2023 01534477 Mrs D Whitehouse Mr P Jones Mrs D Whitehouse iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01534477 2022-04-30 01534477 2023-10-31 01534477 2022-05-01 2023-10-31 01534477 frs-core:CurrentFinancialInstruments 2023-10-31 01534477 frs-core:Non-currentFinancialInstruments 2023-10-31 01534477 frs-core:FurnitureFittings 2022-05-01 2023-10-31 01534477 frs-core:LandBuildings 2023-10-31 01534477 frs-core:LandBuildings 2022-05-01 2023-10-31 01534477 frs-core:LandBuildings 2022-04-30 01534477 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-05-01 2023-10-31 01534477 frs-core:MotorVehicles 2022-05-01 2023-10-31 01534477 frs-core:PlantMachinery 2023-10-31 01534477 frs-core:PlantMachinery 2022-05-01 2023-10-31 01534477 frs-core:PlantMachinery 2022-04-30 01534477 frs-core:RevaluationReserve 2022-05-01 2023-10-31 01534477 frs-core:RevaluationReserve 2023-10-31 01534477 frs-core:ShareCapital 2023-10-31 01534477 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 01534477 frs-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-10-31 01534477 frs-bus:FilletedAccounts 2022-05-01 2023-10-31 01534477 frs-bus:SmallEntities 2022-05-01 2023-10-31 01534477 frs-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-10-31 01534477 frs-bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-10-31 01534477 frs-bus:Director1 2022-05-01 2023-10-31 01534477 frs-bus:Director2 2022-05-01 2023-10-31 01534477 frs-bus:CompanySecretary1 2022-05-01 2023-10-31 01534477 frs-countries:EnglandWales 2022-05-01 2023-10-31 01534477 2021-04-30 01534477 2022-04-30 01534477 2021-05-01 2022-04-30 01534477 frs-core:CurrentFinancialInstruments 2022-04-30 01534477 frs-core:Non-currentFinancialInstruments 2022-04-30 01534477 frs-core:RevaluationReserve 2022-04-30 01534477 frs-core:ShareCapital 2022-04-30 01534477 frs-core:RetainedEarningsAccumulatedLosses 2022-04-30
Registered number: 01534477
Paul Jones (Leathers) Limited
Unaudited Financial Statements
For the Period 1 May 2022 to 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01534477
31 October 2023 30 April 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 363,020 63,507
363,020 63,507
CURRENT ASSETS
Stocks 135,422 198,663
Debtors 5 20,013 78,926
Cash at bank and in hand 815 68,250
156,250 345,839
Creditors: Amounts Falling Due Within One Year 6 (240,340 ) (233,964 )
NET CURRENT ASSETS (LIABILITIES) (84,090 ) 111,875
TOTAL ASSETS LESS CURRENT LIABILITIES 278,930 175,382
Creditors: Amounts Falling Due After More Than One Year 7 (15,549 ) (35,962 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,951 ) (7,789 )
NET ASSETS 229,430 131,631
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 302,486 -
Profit and Loss Account (73,156 ) 131,531
SHAREHOLDERS' FUNDS 229,430 131,631
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For the period 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
Mrs D Whitehouse
Director
30 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Paul Jones (Leathers) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01534477 . The registered office is 54 Walsall Street, Willenhall, West Midlands, WV13 2DU.
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.
The accounts have been prepared for an18 month period and therefore the comparatives are not comparable.
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:
Freehold No depreciation
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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2.7. 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 period was: 20 (2022: 20)
20 20
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost or Valuation
As at 1 May 2022 22,514 173,265 195,779
Additions - 9,345 9,345
Revaluation 302,486 - 302,486
As at 31 October 2023 325,000 182,610 507,610
Depreciation
As at 1 May 2022 - 132,272 132,272
Provided during the period - 12,318 12,318
As at 31 October 2023 - 144,590 144,590
Net Book Value
As at 31 October 2023 325,000 38,020 363,020
As at 1 May 2022 22,514 40,993 63,507
5. Debtors
31 October 2023 30 April 2022
£ £
Due within one year
Trade debtors 18,266 73,166
Other debtors 1,747 5,760
20,013 78,926
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6. Creditors: Amounts Falling Due Within One Year
31 October 2023 30 April 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,700 3,700
Trade creditors 148,409 159,300
Bank loans and overdrafts 16,795 7,606
Other creditors 47,091 39,737
Taxation and social security 24,345 23,621
240,340 233,964
7. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 30 April 2022
£ £
Net obligations under finance lease and hire purchase contracts 2,500 9,721
Bank loans 13,049 26,241
15,549 35,962
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured on the asset to which they relate.
31 October 2023 30 April 2022
£ £
Net obligations under finance lease and hire purchase contracts 6,200 13,421
9. Share Capital
31 October 2023 30 April 2022
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
Surplus on revaluation 302,486
As at 31 October 2023 302,486
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