Acorah Software Products - Accounts Production 15.0.400 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11380595 Mr Lewis Lindsay iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11380595 2023-05-31 11380595 2024-05-31 11380595 2023-06-01 2024-05-31 11380595 frs-core:CurrentFinancialInstruments 2024-05-31 11380595 frs-core:Non-currentFinancialInstruments 2024-05-31 11380595 frs-core:ComputerEquipment 2024-05-31 11380595 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11380595 frs-core:ComputerEquipment 2023-05-31 11380595 frs-core:FurnitureFittings 2024-05-31 11380595 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11380595 frs-core:FurnitureFittings 2023-05-31 11380595 frs-core:ShareCapital 2024-05-31 11380595 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11380595 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11380595 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11380595 frs-bus:SmallEntities 2023-06-01 2024-05-31 11380595 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11380595 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11380595 frs-bus:Director1 2023-06-01 2024-05-31 11380595 frs-countries:EnglandWales 2023-06-01 2024-05-31 11380595 2022-05-31 11380595 2023-05-31 11380595 2022-06-01 2023-05-31 11380595 frs-core:CurrentFinancialInstruments 2023-05-31 11380595 frs-core:Non-currentFinancialInstruments 2023-05-31 11380595 frs-core:ShareCapital 2023-05-31 11380595 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 11380595 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 11380595
Public Nectar Ltd.
Unaudited Financial Statements
For The Year Ended 31 May 2024
Approved Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11380595
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,789 10,089
12,789 10,089
CURRENT ASSETS
Debtors 5 215,171 284,571
Cash at bank and in hand 132,639 533,826
347,810 818,397
Creditors: Amounts Falling Due Within One Year 6 (262,013 ) (178,001 )
NET CURRENT ASSETS (LIABILITIES) 85,797 640,396
TOTAL ASSETS LESS CURRENT LIABILITIES 98,586 650,485
Creditors: Amounts Falling Due After More Than One Year 7 (12,800 ) (19,200 )
NET ASSETS 85,786 631,285
CAPITAL AND RESERVES
Called up share capital 8 1,500 1,500
Profit and Loss Account 84,286 629,785
SHAREHOLDERS' FUNDS 85,786 631,285
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For the year ending 31 May 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 Lewis Lindsay
Director
14/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Public Nectar Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 11380595 . The registered office is 11a Haven Road, Poole, BH13 7LE.
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 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:
Fixtures & Fittings 25% S/L
Computer Equipment 25% S/L
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: 14 (2023: 9)
14 9
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 3,191 12,745 15,936
Additions 2,835 4,865 7,700
As at 31 May 2024 6,026 17,610 23,636
Depreciation
As at 1 June 2023 1,656 4,191 5,847
Provided during the period 964 4,036 5,000
As at 31 May 2024 2,620 8,227 10,847
Net Book Value
As at 31 May 2024 3,406 9,383 12,789
As at 1 June 2023 1,535 8,554 10,089
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 82,962 50,570
Prepayments and accrued income 6,000 4,000
Other debtors 81,917 -
Other debtors (1) - 220,000
Director's loan account 14,436 -
185,315 274,570
Due after more than one year
Amounts owed by associates 29,856 10,001
215,171 284,571
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,380 6,783
Corporation tax 144,390 98,774
Other taxes and social security 2,062 1,524
VAT 92,768 68,748
Other creditors 13,413 662
Director's loan account - 1,510
262,013 178,001
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,800 19,200
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,500 1,500
9. Directors Advances, Credits and Guarantees
Included in debtors is a £14,436 loan to the director, fully repaid on 13 June 2024.
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 942,181 52,766
The final dividends paid for the year ended 31 May 2024 were £942,181 (previous year: £52,766). These dividends were approved by the Board of Directors and paid to shareholders on 31 May 2024 . The dividends are reflected in these financial statements and have been deducted from retained earnings as of the balance sheet date.
11. Related Party Transactions
Loan Balances
No1 Enterprises: As at 31 May 2024, the loan balance with No1 Enterprises was £29,782 (previous year: £10,000). This loan is not incurring any interest and is repayable on demand.
LLJH Ltd: As at 31 May 2024, the loan balance with LLJH Ltd was £52,134 (nil in the prior year). This loan is not incurring any interest and is repayable on demand.
All loans provided to the related parties are on an interest-free basis and are repayable on demand.
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