Acorah Software Products - Accounts Production 14.5.601 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 05533689 Mr Matthew Yexley Mrs Melanie Yexley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05533689 2022-08-31 05533689 2023-08-31 05533689 2022-09-01 2023-08-31 05533689 frs-core:ComputerEquipment 2022-09-01 2023-08-31 05533689 frs-core:FurnitureFittings 2022-09-01 2023-08-31 05533689 frs-core:PlantMachinery 2022-09-01 2023-08-31 05533689 frs-core:ShareCapital 2023-08-31 05533689 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 05533689 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05533689 frs-bus:AbridgedAccounts 2022-09-01 2023-08-31 05533689 frs-bus:SmallEntities 2022-09-01 2023-08-31 05533689 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05533689 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05533689 frs-bus:Director1 2022-09-01 2023-08-31 05533689 frs-bus:Director1 2022-08-31 05533689 frs-bus:Director1 2023-08-31 05533689 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 05533689 frs-countries:EnglandWales 2022-09-01 2023-08-31 05533689 2021-08-31 05533689 2022-08-31 05533689 2021-09-01 2022-08-31 05533689 frs-core:ShareCapital 2022-08-31 05533689 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 05533689
Yexcorp Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2023
McManus Williams KGG Limited
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 05533689
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 704 289
704 289
CURRENT ASSETS
Stocks 1,000 500
Debtors 38,878 16,439
Cash at bank and in hand 43,539 4,163
83,417 21,102
Creditors: Amounts Falling Due Within One Year (33,872 ) (8,124 )
NET CURRENT ASSETS (LIABILITIES) 49,545 12,978
TOTAL ASSETS LESS CURRENT LIABILITIES 50,249 13,267
PROVISIONS FOR LIABILITIES
Deferred Taxation (133 ) (54 )
NET ASSETS 50,116 13,213
CAPITAL AND RESERVES
Called up share capital 5 1 1
Profit and Loss Account 50,115 13,212
SHAREHOLDERS' FUNDS 50,116 13,213
Page 1
Page 2
For the year 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 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 August 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Matthew Yexley
Director
31/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Yexcorp Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05533689 . The registered office is 171 Juniper Way, Bradley Stoke, Bristol, BS32 0DP.
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.
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% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
2.4. 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.
2.5. 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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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
4. Tangible Assets
Total
£
Cost
As at 1 September 2022 22,652
Additions 618
As at 31 August 2023 23,270
Depreciation
As at 1 September 2022 22,363
Provided during the period 203
As at 31 August 2023 22,566
Net Book Value
As at 31 August 2023 704
As at 1 September 2022 289
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2022 Amounts advanced Amounts repaid Amounts written off As at 31 August 2023
£ £ £ £ £
Mr Matthew Yexley - 4,979 - - 4,979
The above loan is unsecured, interest free and repayable on demand.
7. Related Party Transactions
MDY Trading Limited
Included within Other debtors is an amount owed of £4,648 (2022: £4,648) from MDY Trading Limited (company no. 07005795), controlled by a related party who owns 100% of the company’s share capital. The above loan is unsecured, interest free and repayable on demand.
Notagoth Limited
Also included within Other debtors is a loan of £27,145 (2022: £0) to Notagoth Limited (company no. ), which is also owned and controlled by related parties including the director. This loan is unsecured, interest-free and repayable on demand.
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