Acorah Software Products - Accounts Production 14.6.300 false true 31 May 2022 1 June 2021 false 1 June 2022 31 May 2023 31 May 2023 10748954 Mr James Lumsden Mr Glen Manchester iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10748954 2022-05-31 10748954 2023-05-31 10748954 2022-06-01 2023-05-31 10748954 frs-core:CurrentFinancialInstruments 2023-05-31 10748954 frs-core:Non-currentFinancialInstruments 2023-05-31 10748954 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-01 2023-05-31 10748954 frs-core:FurnitureFittings 2023-05-31 10748954 frs-core:FurnitureFittings 2022-06-01 2023-05-31 10748954 frs-core:FurnitureFittings 2022-05-31 10748954 frs-core:NetGoodwill 2023-05-31 10748954 frs-core:NetGoodwill 2022-06-01 2023-05-31 10748954 frs-core:NetGoodwill 2022-05-31 10748954 frs-core:OtherResidualIntangibleAssets 2023-05-31 10748954 frs-core:OtherResidualIntangibleAssets 2022-06-01 2023-05-31 10748954 frs-core:OtherResidualIntangibleAssets 2022-05-31 10748954 frs-core:PlantMachinery 2023-05-31 10748954 frs-core:PlantMachinery 2022-06-01 2023-05-31 10748954 frs-core:PlantMachinery 2022-05-31 10748954 frs-core:ShareCapital 2023-05-31 10748954 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10748954 frs-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10748954 frs-bus:FilletedAccounts 2022-06-01 2023-05-31 10748954 frs-bus:SmallEntities 2022-06-01 2023-05-31 10748954 frs-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10748954 frs-bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 10748954 frs-bus:Director1 2022-06-01 2023-05-31 10748954 frs-bus:Director2 2022-06-01 2023-05-31 10748954 frs-countries:EnglandWales 2022-06-01 2023-05-31 10748954 2021-05-31 10748954 2022-05-31 10748954 2021-06-01 2022-05-31 10748954 frs-core:CurrentFinancialInstruments 2022-05-31 10748954 frs-core:Non-currentFinancialInstruments 2022-05-31 10748954 frs-core:ShareCapital 2022-05-31 10748954 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31
Registered number: 10748954
Ledmore Sussex Hospitality Limited
Financial Statements
For The Year Ended 31 May 2023
The PHLT Group
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10748954
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,900 19,683
Tangible Assets 5 258,560 95,554
271,460 115,237
CURRENT ASSETS
Stocks 6 1,500 7,500
Debtors 7 134 103,490
Cash at bank and in hand 56,604 3,708
58,238 114,698
Creditors: Amounts Falling Due Within One Year 8 (116,206 ) (200,083 )
NET CURRENT ASSETS (LIABILITIES) (57,968 ) (85,385 )
TOTAL ASSETS LESS CURRENT LIABILITIES 213,492 29,852
Creditors: Amounts Falling Due After More Than One Year 9 (385,943 ) (33,660 )
NET LIABILITIES (172,451 ) (3,808 )
CAPITAL AND RESERVES
Called up share capital 10 100 -
Profit and Loss Account (172,551 ) (3,808 )
SHAREHOLDERS' FUNDS (172,451) (3,808)
Page 1
Page 2
For the year ending 31 May 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 James Lumsden
Director
31/07/2024
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
Ledmore Sussex Hospitality Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10748954 . The registered office is 6 Genesis Business Centre, Redkiln Way, Horsham, West Sussex, RH13 5QH.
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 25 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are design and consultancy fees. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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 12.5% per annum
Fixtures & Fittings 4.0% per annum
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.
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: 12 (2022: 12)
12 12
Page 3
Page 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 June 2022 - - -
Additions - 12,900 12,900
Disposals (22,368) - (22,368 )
As at 31 May 2023 (22,368 ) 12,900 (9,468 )
Amortisation
As at 1 June 2022 (19,683 ) - (19,683 )
Provided during the period 783 - 783
Disposals (3,468) - (3,468 )
As at 31 May 2023 (22,368 ) - (22,368 )
Net Book Value
As at 31 May 2023 - 12,900 12,900
As at 1 June 2022 19,683 - 19,683
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2022 12,084 100,000 112,084
Additions 18,285 150,233 168,518
As at 31 May 2023 30,369 250,233 280,602
Depreciation
As at 1 June 2022 4,530 12,000 16,530
Provided during the period 1,512 4,000 5,512
As at 31 May 2023 6,042 16,000 22,042
Net Book Value
As at 31 May 2023 24,327 234,233 258,560
As at 1 June 2022 7,554 88,000 95,554
6. Stocks
2023 2022
£ £
Materials 1,500 7,500
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 134 103,490
134 103,490
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 13,364 39,219
Bank loans and overdrafts 41,744 58,572
Other taxes and social security 10,718 18,178
VAT 29,666 23,026
Net wages 19,322 10,225
Other creditors 1,392 1,125
Accruals and deferred income - 49,738
116,206 200,083
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,200 33,660
Other loans 361,743 -
385,943 33,660
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 -
Page 5