Acorah Software Products - Accounts Production 15.0.500 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 04223034 Mr Colin Featherstone Mrs Lindy Featherstone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04223034 2023-05-31 04223034 2024-05-31 04223034 2023-06-01 2024-05-31 04223034 frs-core:CurrentFinancialInstruments 2024-05-31 04223034 frs-core:Non-currentFinancialInstruments 2024-05-31 04223034 frs-core:ComputerEquipment 2024-05-31 04223034 frs-core:ComputerEquipment 2023-06-01 2024-05-31 04223034 frs-core:ComputerEquipment 2023-05-31 04223034 frs-core:FurnitureFittings 2024-05-31 04223034 frs-core:FurnitureFittings 2023-06-01 2024-05-31 04223034 frs-core:FurnitureFittings 2023-05-31 04223034 frs-core:PlantMachinery 2024-05-31 04223034 frs-core:PlantMachinery 2023-06-01 2024-05-31 04223034 frs-core:PlantMachinery 2023-05-31 04223034 frs-core:ShareCapital 2024-05-31 04223034 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 04223034 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04223034 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 04223034 frs-bus:SmallEntities 2023-06-01 2024-05-31 04223034 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04223034 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04223034 frs-bus:Director1 2023-06-01 2024-05-31 04223034 frs-bus:Director1 2023-05-31 04223034 frs-bus:Director1 2024-05-31 04223034 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 04223034 1 2023-06-01 2024-05-31 04223034 frs-countries:EnglandWales 2023-06-01 2024-05-31 04223034 2022-05-31 04223034 2023-05-31 04223034 2022-06-01 2023-05-31 04223034 frs-core:CurrentFinancialInstruments 2023-05-31 04223034 frs-core:Non-currentFinancialInstruments 2023-05-31 04223034 frs-core:ShareCapital 2023-05-31 04223034 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 04223034 1 2022-06-01 2023-05-31
Registered number: 04223034
C. Featherstone Associates Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04223034
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,078 5,393
7,078 5,393
CURRENT ASSETS
Debtors 5 50,223 75,186
Cash at bank and in hand 16,193 111
66,416 75,297
Creditors: Amounts Falling Due Within One Year 6 (54,960 ) (52,635 )
NET CURRENT ASSETS (LIABILITIES) 11,456 22,662
TOTAL ASSETS LESS CURRENT LIABILITIES 18,534 28,055
Creditors: Amounts Falling Due After More Than One Year 7 (16,677 ) (26,673 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,632 ) (1,025 )
NET ASSETS 225 357
CAPITAL AND RESERVES
Called up share capital 8 112 112
Profit and Loss Account 113 245
SHAREHOLDERS' FUNDS 225 357
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For the year ending 31 May 2024 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 his 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 Colin Featherstone
Director
30 July 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
C. Featherstone Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04223034 . The registered office is 5 Den Road, Teignmouth, Devon, TQ14 8AR.
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. 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 Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.5. 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 year 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.
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2.6. 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.
2.7. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
All Staff 3 3
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 5,118 17,146 9,038 31,302
Additions - 458 3,801 4,259
As at 31 May 2024 5,118 17,604 12,839 35,561
Depreciation
As at 1 June 2023 4,841 14,332 6,736 25,909
Provided during the period 69 491 2,014 2,574
As at 31 May 2024 4,910 14,823 8,750 28,483
Net Book Value
As at 31 May 2024 208 2,781 4,089 7,078
As at 1 June 2023 277 2,814 2,302 5,393
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,743 46,158
Prepayments and accrued income 1,568 1,903
Other debtors 397 290
Corporation tax recoverable assets 15,206 15,206
Director's loan account 309 11,629
50,223 75,186
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 501
Bank loans and overdrafts 11,838 10,037
Corporation tax 25,107 24,167
Other taxes and social security 95 -
VAT 16,420 16,527
Accruals and deferred income 1,500 1,403
54,960 52,635
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,677 26,673
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 112 112
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Colin Featherstone 11,629 - 11,320 - 309
The above loan is unsecured, interest free and repayable on demand.
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