Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08438095 Miss Sarah Poulton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08438095 2023-03-31 08438095 2024-03-31 08438095 2023-04-01 2024-03-31 08438095 frs-core:CurrentFinancialInstruments 2024-03-31 08438095 frs-core:BetweenOneFiveYears 2024-03-31 08438095 frs-core:FurnitureFittings 2024-03-31 08438095 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08438095 frs-core:FurnitureFittings 2023-03-31 08438095 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 08438095 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08438095 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 08438095 frs-core:WithinOneYear 2024-03-31 08438095 frs-core:ShareCapital 2024-03-31 08438095 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08438095 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08438095 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08438095 frs-bus:SmallEntities 2023-04-01 2024-03-31 08438095 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08438095 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08438095 frs-bus:Director1 2023-04-01 2024-03-31 08438095 frs-countries:EnglandWales 2023-04-01 2024-03-31 08438095 2022-03-31 08438095 2023-03-31 08438095 2022-04-01 2023-03-31 08438095 frs-core:CurrentFinancialInstruments 2023-03-31 08438095 frs-core:BetweenOneFiveYears 2023-03-31 08438095 frs-core:WithinOneYear 2023-03-31 08438095 frs-core:ShareCapital 2023-03-31 08438095 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08438095
Paper-And-String Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Still Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08438095
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,385 2,980
2,385 2,980
CURRENT ASSETS
Stocks 5 90,778 93,535
Debtors 6 3,253 3,617
Cash at bank and in hand 777 595
94,808 97,747
Creditors: Amounts Falling Due Within One Year 7 (29,501 ) (24,134 )
NET CURRENT ASSETS (LIABILITIES) 65,307 73,613
TOTAL ASSETS LESS CURRENT LIABILITIES 67,692 76,593
PROVISIONS FOR LIABILITIES
Deferred Taxation (616 ) (766 )
NET ASSETS 67,076 75,827
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 66,976 75,727
SHAREHOLDERS' FUNDS 67,076 75,827
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 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 Sarah Poulton
Director
07/08/2024
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
Paper-And-String Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08438095 . The registered office is The Old Barn Cogden Farm, Coast Road, BURTON BRADSTOCK, Dorset, DT6 4RN.
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:
Leasehold 25% reducing balance
Fixtures & Fittings 25% reducing balance
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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Page 4
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 628 23,138 23,766
Additions - 199 199
As at 31 March 2024 628 23,337 23,965
Depreciation
As at 1 April 2023 608 20,178 20,786
Provided during the period 5 789 794
As at 31 March 2024 613 20,967 21,580
Net Book Value
As at 31 March 2024 15 2,370 2,385
As at 1 April 2023 20 2,960 2,980
5. Stocks
2024 2023
£ £
Stock 90,778 93,535
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,513 896
Other debtors 1,740 2,721
3,253 3,617
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,934 2,485
Bank loans and overdrafts 17,694 16,226
Other creditors 2,755 891
Taxation and social security 7,118 4,532
29,501 24,134
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 18,000 12,180
Later than one year and not later than five years 69,750 -
87,750 12,180
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