Acorah Software Products - Accounts Production 14.6.300 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 08392834 Mr James Golding Mr Michael Snelle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08392834 2023-02-28 08392834 2024-02-29 08392834 2023-03-01 2024-02-29 08392834 frs-core:CurrentFinancialInstruments 2024-02-29 08392834 frs-core:ComputerEquipment 2024-02-29 08392834 frs-core:ComputerEquipment 2023-03-01 2024-02-29 08392834 frs-core:ComputerEquipment 2023-02-28 08392834 frs-core:FurnitureFittings 2024-02-29 08392834 frs-core:FurnitureFittings 2023-03-01 2024-02-29 08392834 frs-core:FurnitureFittings 2023-02-28 08392834 frs-core:ShareCapital 2024-02-29 08392834 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08392834 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08392834 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08392834 frs-bus:SmallEntities 2023-03-01 2024-02-29 08392834 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08392834 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08392834 frs-bus:Director1 2023-03-01 2024-02-29 08392834 frs-bus:Director2 2023-03-01 2024-02-29 08392834 frs-countries:EnglandWales 2023-03-01 2024-02-29 08392834 2022-02-28 08392834 2023-02-28 08392834 2022-03-01 2023-02-28 08392834 frs-core:CurrentFinancialInstruments 2023-02-28 08392834 frs-core:ShareCapital 2023-02-28 08392834 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08392834
Aqua Fun Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Maurice J Bushell & Co Ltd.
Chartered Certified Accountants
Units 4 & 5 Brightwell Barns
Waldringfield Road
Brightwell
Suffolk
IP10 0BJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08392834
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 61,222 51,819
61,222 51,819
CURRENT ASSETS
Stocks 5 42,000 58,000
Debtors 6 89,919 216,080
Cash at bank and in hand 1,688,175 1,511,025
1,820,094 1,785,105
Creditors: Amounts Falling Due Within One Year 7 (508,283 ) (466,139 )
NET CURRENT ASSETS (LIABILITIES) 1,311,811 1,318,966
TOTAL ASSETS LESS CURRENT LIABILITIES 1,373,033 1,370,785
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,307 ) (9,846 )
NET ASSETS 1,357,726 1,360,939
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,357,724 1,360,937
SHAREHOLDERS' FUNDS 1,357,726 1,360,939
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 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 Michael Snelle
Director
7 May 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Aqua Fun Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08392834 . The registered office is Units 4 & 5 Brightwell Barns , Waldringfield Road, Brightwell, Suffolk, IP10 0BJ.
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 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.
2.4. 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:
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
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 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 8)
10 8
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 72,467 22,282 94,749
Additions 25,347 1,473 26,820
As at 29 February 2024 97,814 23,755 121,569
Depreciation
As at 1 March 2023 28,094 14,836 42,930
Provided during the period 14,352 3,065 17,417
As at 29 February 2024 42,446 17,901 60,347
Net Book Value
As at 29 February 2024 55,368 5,854 61,222
As at 1 March 2023 44,373 7,446 51,819
5. Stocks
2024 2023
£ £
Materials 42,000 58,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 89,919 216,080
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Corporation tax 405,409 300,638
Other taxes and social security - 858
VAT 92,364 124,812
Accruals and deferred income 5,700 5,300
Directors' loan accounts 4,810 34,532
508,283 466,139
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4