Acorah Software Products - Accounts Production 15.0.600 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 09444124 Mr Andrew Jefferies Mr Benjamin Muller false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09444124 2023-02-28 09444124 2024-02-29 09444124 2023-03-01 2024-02-29 09444124 frs-core:CurrentFinancialInstruments 2024-02-29 09444124 frs-core:Non-currentFinancialInstruments 2024-02-29 09444124 frs-core:ComputerEquipment 2024-02-29 09444124 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09444124 frs-core:ComputerEquipment 2023-02-28 09444124 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 09444124 frs-core:FurnitureFittings 2024-02-29 09444124 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09444124 frs-core:FurnitureFittings 2023-02-28 09444124 frs-core:OtherResidualIntangibleAssets 2024-02-29 09444124 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 09444124 frs-core:OtherResidualIntangibleAssets 2023-02-28 09444124 frs-core:PlantMachinery 2024-02-29 09444124 frs-core:PlantMachinery 2023-03-01 2024-02-29 09444124 frs-core:PlantMachinery 2023-02-28 09444124 frs-core:SharePremium 2024-02-29 09444124 frs-core:ShareCapital 2024-02-29 09444124 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09444124 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09444124 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09444124 frs-bus:SmallEntities 2023-03-01 2024-02-29 09444124 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09444124 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09444124 1 2023-03-01 2024-02-29 09444124 frs-core:CurrencyRisk 2023-03-01 2024-02-29 09444124 frs-core:UnlistedNon-exchangeTraded 2024-02-29 09444124 frs-core:UnlistedNon-exchangeTraded 2023-02-28 09444124 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 09444124 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 09444124 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 09444124 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 09444124 frs-bus:Director1 2023-03-01 2024-02-29 09444124 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 09444124 frs-core:CurrentFinancialInstruments 1 2024-02-29 09444124 frs-countries:EnglandWales 2023-03-01 2024-02-29 09444124 2022-02-28 09444124 2023-02-28 09444124 2022-03-01 2023-02-28 09444124 frs-core:CurrentFinancialInstruments 2023-02-28 09444124 frs-core:Non-currentFinancialInstruments 2023-02-28 09444124 frs-core:SharePremium 2023-02-28 09444124 frs-core:ShareCapital 2023-02-28 09444124 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 09444124 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 09444124
Dock & Bay Ltd
Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09444124
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 157 236
Tangible Assets 5 23,473 35,442
Investments 6 61 61
23,691 35,739
CURRENT ASSETS
Stocks 7 3,027,761 3,132,755
Debtors 8 1,111,933 913,689
Cash at bank and in hand 686,249 539,997
4,825,943 4,586,441
Creditors: Amounts Falling Due Within One Year 9 (1,658,039 ) (2,044,929 )
NET CURRENT ASSETS (LIABILITIES) 3,167,904 2,541,512
TOTAL ASSETS LESS CURRENT LIABILITIES 3,191,595 2,577,251
Creditors: Amounts Falling Due After More Than One Year 10 (370,296 ) (593,479 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,923 ) (6,790 )
NET ASSETS 2,815,376 1,976,982
CAPITAL AND RESERVES
Called up share capital 12 1 1
Share premium account 339,974 339,974
Profit and Loss Account 2,475,401 1,637,007
SHAREHOLDERS' FUNDS 2,815,376 1,976,982
Page 1
Page 2
For the year ending 29 February 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 his 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 Andrew Jefferies
Director
18 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dock & Bay Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09444124 . The registered office is 90a High Street , Berkhamsted, Hertfordshire, HP4 2BL.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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 goods have been shipped to the customer.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are trademarks amortised to the profit and loss account over the estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 3 Years Straight Line
Fixtures & Fittings 4 Years Straight Line
Computer Equipment 3 Years Straight Line
2.6. Stocks and Work in Progress
Stocks 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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.
...CONTINUED
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Page 4
2.8. 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 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.
2.9. Group Accounts
The company is the parent of a small group and is therefore opting not to produce consolidated accounts. The subsidiary is Dock & Bay PTY (A.C.N. 608596229) incorporated in the state of New South Wales, Australia.
2.10. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
Sales, marketing and distribution 23 17
27 21
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 3,852
As at 29 February 2024 3,852
Amortisation
As at 1 March 2023 3,616
Provided during the period 79
As at 29 February 2024 3,695
Net Book Value
As at 29 February 2024 157
As at 1 March 2023 236
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 10,192 34,728 54,382 99,302
Additions 758 4,723 3,957 9,438
As at 29 February 2024 10,950 39,451 58,339 108,740
Depreciation
As at 1 March 2023 5,523 18,446 39,891 63,860
Provided during the period 2,656 9,075 9,676 21,407
As at 29 February 2024 8,179 27,521 49,567 85,267
Net Book Value
As at 29 February 2024 2,771 11,930 8,772 23,473
As at 1 March 2023 4,669 16,282 14,491 35,442
6. Investments
Unlisted
£
Cost
As at 1 March 2023 61
As at 29 February 2024 61
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 61
As at 1 March 2023 61
The balance of the investments represents 100% of the Ordinary shares of the Dock & Bay PTY Ltd incorporated in Australia of $100 AUD holding 100 Ordinary Shares of $1 each.
7. Stocks
2024 2023
£ £
Stock 2,858,587 2,707,618
Stock Deposits 169,174 425,137
3,027,761 3,132,755
Page 5
Page 6
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 487,257 266,687
Prepayments and accrued income 205,589 111,537
Other debtors 27,407 43,130
Amounts owed by group undertakings 391,680 492,335
1,111,933 913,689
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 806,855 574,936
Bank loans and overdrafts 228,500 974,409
Corporation tax 223,805 169,829
Other taxes and social security 1,761 42,319
VAT 187,488 154,204
Pensions Payable 8,975 6,519
Accruals and deferred income 200,655 122,713
1,658,039 2,044,929
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loans > 1 year 370,296 593,479
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
13. Foreign Currency Risk
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.
14. Dividends
No dividends were declared or paid during the period.
15. Related Party Transactions
Dock & Bay PTY Ltd
There is an amount owed to the company by Dock & Bay PTY Ltd (a wholly owned subsidiary) at the period end of £391,680 (2023: £492,335).
16. Exceptional Items
During the year, exceptional cost amounting to £113,030 were incurred, This amount is a payroll related cost.
17. Controlling Party
There is no ultimate controlling party as no individual shareholders holds more than 50% of the shares.
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