Acorah Software Products - Accounts Production 15.0.400 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09649347 Mr Justin Duance Miss Poppy Treffry iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09649347 2023-03-31 09649347 2024-03-31 09649347 2023-04-01 2024-03-31 09649347 frs-core:CurrentFinancialInstruments 2024-03-31 09649347 frs-core:ComputerEquipment 2024-03-31 09649347 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09649347 frs-core:ComputerEquipment 2023-03-31 09649347 frs-core:FurnitureFittings 2024-03-31 09649347 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09649347 frs-core:FurnitureFittings 2023-03-31 09649347 frs-core:NetGoodwill 2024-03-31 09649347 frs-core:NetGoodwill 2023-04-01 2024-03-31 09649347 frs-core:NetGoodwill 2023-03-31 09649347 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 09649347 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09649347 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 09649347 frs-core:PlantMachinery 2024-03-31 09649347 frs-core:PlantMachinery 2023-04-01 2024-03-31 09649347 frs-core:PlantMachinery 2023-03-31 09649347 frs-core:ShareCapital 2024-03-31 09649347 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09649347 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09649347 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09649347 frs-bus:SmallEntities 2023-04-01 2024-03-31 09649347 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09649347 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09649347 frs-bus:Director1 2023-04-01 2024-03-31 09649347 frs-bus:Director2 2023-04-01 2024-03-31 09649347 frs-countries:EnglandWales 2023-04-01 2024-03-31 09649347 2022-03-31 09649347 2023-03-31 09649347 2022-04-01 2023-03-31 09649347 frs-core:CurrentFinancialInstruments 2023-03-31 09649347 frs-core:ShareCapital 2023-03-31 09649347 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09649347
Justin Duance Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09649347
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,042 6,542
Tangible Assets 5 322,367 45,640
328,409 52,182
CURRENT ASSETS
Stocks 6 112,972 121,696
Debtors 7 202,100 202,271
Cash at bank and in hand 59,526 317,075
374,598 641,042
Creditors: Amounts Falling Due Within One Year 8 (69,699 ) (74,400 )
NET CURRENT ASSETS (LIABILITIES) 304,899 566,642
TOTAL ASSETS LESS CURRENT LIABILITIES 633,308 618,824
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,124 ) -
NET ASSETS 625,184 618,824
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 625,084 618,724
SHAREHOLDERS' FUNDS 625,184 618,824
Page 1
Page 2
For the year ending 31 March 2024 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 Justin Duance
Director
28/06/2024
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
Justin Duance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09649347 . The registered office is Trengwainton Pumphouse, Tremethick Cross , Penzance, Cornwall, TR20 8UF.
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.
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 20 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:
Freehold 0% Straight Line
Plant & Machinery 10%/20% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
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. 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.
2.6. 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 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Amortisation
As at 1 April 2023 3,458
Provided during the period 500
As at 31 March 2024 3,958
Net Book Value
As at 31 March 2024 6,042
As at 1 April 2023 6,542
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 - 65,935 1,458 - 67,393
Additions 282,070 3,286 - 290 285,646
Disposals - (1,914 ) - - (1,914 )
As at 31 March 2024 282,070 67,307 1,458 290 351,125
Depreciation
As at 1 April 2023 - 21,304 449 - 21,753
Provided during the period - 6,623 364 18 7,005
As at 31 March 2024 - 27,927 813 18 28,758
Net Book Value
As at 31 March 2024 282,070 39,380 645 272 322,367
As at 1 April 2023 - 44,631 1,009 - 45,640
6. Stocks
2024 2023
£ £
Materials 112,972 121,696
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,223 3,361
Prepayments and accrued income 16,237 7,270
Other debtors 181,640 191,640
202,100 202,271
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,713 9,262
Corporation tax 11,910 21,860
Other taxes and social security 10,356 32,760
VAT 18,716 -
Other creditors 200 -
Accruals and deferred income 17,804 9,825
Directors' loan accounts - 693
69,699 74,400
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Transactions with related parties
Money owed by related parties
2023 balance - £191,640
2024 balance - £181,640
Page 5