Acorah Software Products - Accounts Production 15.0.500 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 04799960 Mr Graham Higdon Mr David Higdon Mr Stephen Higdon Mr Andrew Higdon Mrs Penelope Higdon Mr Graham Higdon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04799960 2023-06-30 04799960 2024-06-30 04799960 2023-07-01 2024-06-30 04799960 frs-core:CurrentFinancialInstruments 2024-06-30 04799960 frs-core:Non-currentFinancialInstruments 2024-06-30 04799960 frs-core:ComputerEquipment 2024-06-30 04799960 frs-core:ComputerEquipment 2023-07-01 2024-06-30 04799960 frs-core:ComputerEquipment 2023-06-30 04799960 frs-core:FurnitureFittings 2024-06-30 04799960 frs-core:FurnitureFittings 2023-07-01 2024-06-30 04799960 frs-core:FurnitureFittings 2023-06-30 04799960 frs-core:NetGoodwill 2024-06-30 04799960 frs-core:NetGoodwill 2023-07-01 2024-06-30 04799960 frs-core:NetGoodwill 2023-06-30 04799960 frs-core:PlantMachinery 2024-06-30 04799960 frs-core:PlantMachinery 2023-07-01 2024-06-30 04799960 frs-core:PlantMachinery 2023-06-30 04799960 frs-core:ShareCapital 2024-06-30 04799960 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 04799960 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04799960 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 04799960 frs-bus:SmallEntities 2023-07-01 2024-06-30 04799960 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04799960 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04799960 frs-bus:Director1 2023-07-01 2024-06-30 04799960 frs-bus:Director2 2023-07-01 2024-06-30 04799960 frs-bus:Director3 2023-07-01 2024-06-30 04799960 frs-bus:Director4 2023-07-01 2024-06-30 04799960 frs-bus:Director5 2023-07-01 2024-06-30 04799960 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 04799960 frs-countries:EnglandWales 2023-07-01 2024-06-30 04799960 2022-06-30 04799960 2023-06-30 04799960 2022-07-01 2023-06-30 04799960 frs-core:CurrentFinancialInstruments 2023-06-30 04799960 frs-core:Non-currentFinancialInstruments 2023-06-30 04799960 frs-core:ShareCapital 2023-06-30 04799960 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 04799960
Atlantic Coast Studios Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04799960
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 57,802 48,656
57,802 48,656
CURRENT ASSETS
Stocks 6 13,090 9,305
Debtors 7 62,903 68,492
Cash at bank and in hand 158,256 141,703
234,249 219,500
Creditors: Amounts Falling Due Within One Year 8 (88,876 ) (99,223 )
NET CURRENT ASSETS (LIABILITIES) 145,373 120,277
TOTAL ASSETS LESS CURRENT LIABILITIES 203,175 168,933
Creditors: Amounts Falling Due After More Than One Year 9 (9,889 ) (19,904 )
NET ASSETS 193,286 149,029
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 193,186 148,929
SHAREHOLDERS' FUNDS 193,286 149,029
Page 1
Page 2
For the year ending 30 June 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 David Higdon
Director
1 August 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
Atlantic Coast Studios Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04799960 . The registered office is Unit 11 Station Drive, Bredon, Tewkesbury, Gloucestershire, GL20 7HH.
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 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:
Plant & Machinery 10% 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.
...CONTINUED
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2.6. Taxation - continued
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: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 40,000
As at 30 June 2024 40,000
Amortisation
As at 1 July 2023 40,000
As at 30 June 2024 40,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 231,200 128 3,785 235,113
Additions 15,000 - 1,666 16,666
As at 30 June 2024 246,200 128 5,451 251,779
Depreciation
As at 1 July 2023 182,640 32 3,785 186,457
Provided during the period 7,072 32 416 7,520
As at 30 June 2024 189,712 64 4,201 193,977
Net Book Value
As at 30 June 2024 56,488 64 1,250 57,802
As at 1 July 2023 48,560 96 - 48,656
6. Stocks
2024 2023
£ £
Stock 13,090 9,305
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 56,553 54,712
Prepayments and accrued income 6,350 13,149
Other debtors - 631
62,903 68,492
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,737 5,262
Bank loans and overdrafts 10,000 10,000
Corporation tax 34,917 12,611
Other taxes and social security 975 3,680
VAT 27,191 26,470
Accruals and deferred income 1,200 1,200
Directors' loan accounts 8,856 40,000
88,876 99,223
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,889 19,904
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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