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Registered number: 09829088
Zara Perry Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Zara Perry Limited for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Zara Perry Limited for the year ended 31 October 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Zara Perry Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Zara Perry Limited and state those matters that we have agreed to state to the director of Zara Perry Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Zara Perry Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Zara Perry Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Zara Perry Limited . You consider that Zara Perry Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Zara Perry Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
05/08/2024
Charlton Baker Limited
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Page 1
Page 2
Balance Sheet
Registered number: 09829088
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,381 1,842
1,381 1,842
CURRENT ASSETS
Stocks 5 2,050 1,900
Debtors 6 4,930 8,834
Cash at bank and in hand 57,017 62,553
63,997 73,287
Creditors: Amounts Falling Due Within One Year 7 (15,421 ) (35,305 )
NET CURRENT ASSETS (LIABILITIES) 48,576 37,982
TOTAL ASSETS LESS CURRENT LIABILITIES 49,957 39,824
NET ASSETS 49,957 39,824
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 49,857 39,724
SHAREHOLDERS' FUNDS 49,957 39,824
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For the year ending 31 October 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 her 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
Miss Z Morgan
Director
05/08/2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Zara Perry Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09829088 . The registered office is 30 Circus Mews, BATH, BA1 2PW.
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% RB
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 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.
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2.6. 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: 9 (2022: 9)
9 9
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 November 2022 3,701
As at 31 October 2023 3,701
Depreciation
As at 1 November 2022 1,859
Provided during the period 461
As at 31 October 2023 2,320
Net Book Value
As at 31 October 2023 1,381
As at 1 November 2022 1,842
5. Stocks
2023 2022
£ £
Materials 2,050 1,900
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 2,683 2,683
Other debtors 2,247 2,247
VAT - 3,904
4,930 8,834
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,465 10,593
Corporation tax 2,534 6,915
Other taxes and social security 246 590
VAT 4,706 -
Director's loan account 6,470 17,207
15,421 35,305
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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