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 07329518 Mrs S Stokes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07329518 2022-11-30 07329518 2023-11-30 07329518 2022-12-01 2023-11-30 07329518 frs-core:CurrentFinancialInstruments 2023-11-30 07329518 frs-core:ComputerEquipment 2023-11-30 07329518 frs-core:ComputerEquipment 2022-12-01 2023-11-30 07329518 frs-core:ComputerEquipment 2022-11-30 07329518 frs-core:FurnitureFittings 2022-12-01 2023-11-30 07329518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 07329518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 07329518 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 07329518 frs-core:MotorVehicles 2023-11-30 07329518 frs-core:MotorVehicles 2022-12-01 2023-11-30 07329518 frs-core:MotorVehicles 2022-11-30 07329518 frs-core:PlantMachinery 2023-11-30 07329518 frs-core:PlantMachinery 2022-12-01 2023-11-30 07329518 frs-core:PlantMachinery 2022-11-30 07329518 frs-core:RevaluationReserve 2022-11-30 07329518 frs-core:RevaluationReserve 2023-11-30 07329518 frs-core:ShareCapital 2023-11-30 07329518 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07329518 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07329518 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07329518 frs-bus:SmallEntities 2022-12-01 2023-11-30 07329518 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07329518 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07329518 frs-core:DeferredTaxation 2022-11-30 07329518 frs-core:DeferredTaxation 2023-11-30 07329518 frs-bus:Director1 2022-12-01 2023-11-30 07329518 frs-countries:EnglandWales 2022-12-01 2023-11-30 07329518 2021-11-30 07329518 2022-11-30 07329518 2021-12-01 2022-11-30 07329518 frs-core:CurrentFinancialInstruments 2022-11-30 07329518 frs-core:RevaluationReserve 2022-11-30 07329518 frs-core:ShareCapital 2022-11-30 07329518 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07329518
Devizes Steel Supplies Enterprises Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07329518
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,160,657 1,164,146
1,160,657 1,164,146
CURRENT ASSETS
Debtors 5 1,635 1,601
Investments 6 100 100
Cash at bank and in hand 1,055,422 1,105,253
1,057,157 1,106,954
Creditors: Amounts Falling Due Within One Year 7 (100,991 ) (141,218 )
NET CURRENT ASSETS (LIABILITIES) 956,166 965,736
TOTAL ASSETS LESS CURRENT LIABILITIES 2,116,823 2,129,882
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (32,215 ) (32,215 )
NET ASSETS 2,084,608 2,097,667
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 151,965 151,965
Income Statement 1,932,543 1,945,602
SHAREHOLDERS' FUNDS 2,084,608 2,097,667
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 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 Income Statement.
On behalf of the board
Mrs S Stokes
Director
05/08/2024
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
Devizes Steel Supplies Enterprises Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07329518 . The registered office is Berhills Farm, Sells Green, Seend, Melksham, United Kingdom, SN12 6RW.
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:
Freehold 10% SL
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 25% RB
Computer Equipment 25% RB
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 1,149,977 30,387 38,534 988 1,219,886
Additions - 34,000 - - 34,000
Disposals - (12,500 ) - - (12,500 )
As at 30 November 2023 1,149,977 51,887 38,534 988 1,241,386
Depreciation
As at 1 December 2022 18,579 17,475 19,065 621 55,740
Provided during the period 18,579 10,986 4,867 91 34,523
Disposals - (9,534 ) - - (9,534 )
As at 30 November 2023 37,158 18,927 23,932 712 80,729
Net Book Value
As at 30 November 2023 1,112,819 32,960 14,602 276 1,160,657
As at 1 December 2022 1,131,398 12,912 19,469 367 1,164,146
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,499 1,601
VAT 136 -
1,635 1,601
6. Current Asset Investments
2023 2022
£ £
Shares in subsidiaries 100 100
100 100
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 499 1,997
Corporation tax - 10,560
VAT - 1,127
Net wages 22 22
Other creditors 262 790
Accruals and deferred income 1,183 1,048
Director's loan account 94,085 123,308
Amounts owed to other participating interests 4,940 2,366
100,991 141,218
Page 4
Page 5
8. Deferred Taxation
The provision for deferred taxation included in the statement of financial position is as follows:
2023 2022
£ £
Other timing differences 32,215 32,215
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 December 2022 32,215 32,215
Balance at 30 November 2023 32,215 32,215
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Revaluation Reserve
£
As at 1 December 2022 151,965
As at 30 November 2023 151,965
Page 5