Acorah Software Products - Accounts Production 15.0.500 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 04046346 Mr Gary Nicholls Mrs Hannah Nicholls iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04046346 2022-11-30 04046346 2023-11-30 04046346 2022-12-01 2023-11-30 04046346 frs-core:CurrentFinancialInstruments 2023-11-30 04046346 frs-core:Non-currentFinancialInstruments 2023-11-30 04046346 frs-core:ComputerEquipment 2023-11-30 04046346 frs-core:ComputerEquipment 2022-12-01 2023-11-30 04046346 frs-core:ComputerEquipment 2022-11-30 04046346 frs-core:FurnitureFittings 2023-11-30 04046346 frs-core:FurnitureFittings 2022-12-01 2023-11-30 04046346 frs-core:FurnitureFittings 2022-11-30 04046346 frs-core:NetGoodwill 2023-11-30 04046346 frs-core:NetGoodwill 2022-12-01 2023-11-30 04046346 frs-core:NetGoodwill 2022-11-30 04046346 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 04046346 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 04046346 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 04046346 frs-core:MotorVehicles 2023-11-30 04046346 frs-core:MotorVehicles 2022-12-01 2023-11-30 04046346 frs-core:MotorVehicles 2022-11-30 04046346 frs-core:SharePremium 2023-11-30 04046346 frs-core:ShareCapital 2023-11-30 04046346 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 04046346 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04046346 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 04046346 frs-bus:SmallEntities 2022-12-01 2023-11-30 04046346 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 04046346 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04046346 frs-bus:Director1 2022-12-01 2023-11-30 04046346 frs-bus:Director1 2022-11-30 04046346 frs-bus:Director1 2023-11-30 04046346 frs-bus:Director2 2022-12-01 2023-11-30 04046346 frs-bus:Director2 2022-11-30 04046346 frs-bus:Director2 2023-11-30 04046346 frs-bus:Director3 2022-12-01 2023-11-30 04046346 frs-bus:Director3 2022-11-30 04046346 frs-bus:Director3 2023-11-30 04046346 frs-countries:EnglandWales 2022-12-01 2023-11-30 04046346 2021-11-30 04046346 2022-11-30 04046346 2021-12-01 2022-11-30 04046346 frs-core:CurrentFinancialInstruments 2022-11-30 04046346 frs-core:Non-currentFinancialInstruments 2022-11-30 04046346 frs-core:SharePremium 2022-11-30 04046346 frs-core:ShareCapital 2022-11-30 04046346 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 04046346
Bournemark Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Focal Business Group Limited
Chartered Institue of Management Accountants
4A Church Street
Market Harborough
Leicestershire
LE16 7AA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04046346
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,620 6,787
8,620 6,787
CURRENT ASSETS
Stocks 6 127,035 139,706
Debtors 7 24,246 221,178
Cash at bank and in hand 10,624 23,571
161,905 384,455
Creditors: Amounts Falling Due Within One Year 8 (77,890 ) (47,285 )
NET CURRENT ASSETS (LIABILITIES) 84,015 337,170
TOTAL ASSETS LESS CURRENT LIABILITIES 92,635 343,957
Creditors: Amounts Falling Due After More Than One Year 9 (15,833 ) (25,833 )
NET ASSETS 76,802 318,124
CAPITAL AND RESERVES
Called up share capital 10 47,070 87,002
Share premium account - 72,603
Profit and Loss Account 29,732 158,519
SHAREHOLDERS' FUNDS 76,802 318,124
Page 1
Page 2
For the year ending 30 November 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 Gary Nicholls
Director
24 July 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bournemark Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04046346 . The registered office is 544 Christchurch Road, Bournemouth, BH1 4BE.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten 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:
Leasehold Straight line 20%
Motor Vehicles Reducing balance 25%
Fixtures & Fittings Reducing balance 20%
Computer Equipment Reducing balance 33%
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.
Page 3
Page 4
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 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.
2.7. 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 year was: 5 (2022: 5)
5 5
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 39,990
As at 30 November 2023 39,990
Amortisation
As at 1 December 2022 39,990
As at 30 November 2023 39,990
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 4,071 5,202 87,396 21,705 118,374
Additions - - 3,833 464 4,297
As at 30 November 2023 4,071 5,202 91,229 22,169 122,671
Depreciation
As at 1 December 2022 4,071 5,202 82,042 20,272 111,587
Provided during the period - - 1,838 626 2,464
As at 30 November 2023 4,071 5,202 83,880 20,898 114,051
Net Book Value
As at 30 November 2023 - - 7,349 1,271 8,620
As at 1 December 2022 - - 5,354 1,433 6,787
6. Stocks
2023 2022
£ £
Stock 127,035 139,706
Page 5
Page 6
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 20,666 221,178
20,666 221,178
Due after more than one year
Other debtors 3,580 -
3,580 -
24,246 221,178
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 6,649 4,988
Bank loans and overdrafts 34,373 10,000
Other creditors 5,908 11,158
Taxation and social security 30,960 21,139
77,890 47,285
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,833 25,833
15,833 25,833
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 47,070 87,002
Page 6
Page 7
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Mark Baker 203,000 5,000 208,000 - -
Mr Gary Nicholls 8,500 43,433 46,630 - 5,303
Mrs Hannah Nicholls - 41,780 36,477 - 5,303
The above loan is unsecured, interest free and repayable on demand.
Page 7