Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04121785 Mr Robert Langley Mrs Shan Langley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04121785 2022-12-31 04121785 2023-12-31 04121785 2023-01-01 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 2023-12-31 04121785 frs-core:Non-currentFinancialInstruments 2023-12-31 04121785 frs-core:ComputerEquipment 2023-12-31 04121785 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04121785 frs-core:ComputerEquipment 2022-12-31 04121785 frs-core:FurnitureFittings 2023-12-31 04121785 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04121785 frs-core:FurnitureFittings 2022-12-31 04121785 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04121785 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04121785 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04121785 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 04121785 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04121785 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 04121785 frs-core:MotorVehicles 2023-12-31 04121785 frs-core:MotorVehicles 2023-01-01 2023-12-31 04121785 frs-core:MotorVehicles 2022-12-31 04121785 frs-core:PlantMachinery 2023-12-31 04121785 frs-core:PlantMachinery 2023-01-01 2023-12-31 04121785 frs-core:PlantMachinery 2022-12-31 04121785 frs-core:ShareCapital 2023-12-31 04121785 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04121785 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04121785 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04121785 frs-bus:SmallEntities 2023-01-01 2023-12-31 04121785 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04121785 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04121785 frs-bus:Director1 2023-01-01 2023-12-31 04121785 frs-bus:Director2 2023-01-01 2023-12-31 04121785 frs-bus:Director2 2022-12-31 04121785 frs-bus:Director2 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 1 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 2 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 3 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 4 2023-12-31 04121785 frs-core:CurrentFinancialInstruments 9 2023-12-31 04121785 frs-countries:EnglandWales 2023-01-01 2023-12-31 04121785 2021-12-31 04121785 2022-12-31 04121785 2022-01-01 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 2022-12-31 04121785 frs-core:Non-currentFinancialInstruments 2022-12-31 04121785 frs-core:ShareCapital 2022-12-31 04121785 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 1 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 2 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 3 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 4 2022-12-31 04121785 frs-core:CurrentFinancialInstruments 9 2022-12-31
Registered number: 04121785
Lord Loudly Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
The Fishbourne Accountant Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04121785
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 60,675 72,947
60,675 72,947
CURRENT ASSETS
Stocks 5 957,365 976,348
Debtors 6 10,336 10,815
Cash at bank and in hand 262,961 112,502
1,230,662 1,099,665
Creditors: Amounts Falling Due Within One Year 7 (217,366 ) (179,822 )
NET CURRENT ASSETS (LIABILITIES) 1,013,296 919,843
TOTAL ASSETS LESS CURRENT LIABILITIES 1,073,971 992,790
Creditors: Amounts Falling Due After More Than One Year 8 (14,302 ) (24,192 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (71,307 ) (69,807 )
NET ASSETS 988,362 898,791
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 988,262 898,691
SHAREHOLDERS' FUNDS 988,362 898,791
Page 1
Page 2
For the year ending 31 December 2023 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 Robert Langley
Director
13th August 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
Lord Loudly Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04121785 . The registered office is 7-8 Donnington Park, Birdham Road, Chichester, West Sussex, PO20 7DU.
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:
Freehold 10% straight line
Leasehold over the term of the lease
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 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.
...CONTINUED
Page 3
Page 4
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2023 87,139 4,688 31,262 7,292
Additions - - 1,338 -
As at 31 December 2023 87,139 4,688 32,600 7,292
Depreciation
As at 1 January 2023 43,570 4,312 23,970 301
Provided during the period 8,714 188 1,897 145
As at 31 December 2023 52,284 4,500 25,867 446
Net Book Value
As at 31 December 2023 34,855 188 6,733 6,846
As at 1 January 2023 43,569 376 7,292 6,991
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 80,856 7,650 218,887
Additions - 459 1,797
As at 31 December 2023 80,856 8,109 220,684
Depreciation
As at 1 January 2023 68,335 5,452 145,940
Provided during the period 2,572 553 14,069
As at 31 December 2023 70,907 6,005 160,009
Net Book Value
As at 31 December 2023 9,949 2,104 60,675
As at 1 January 2023 12,521 2,198 72,947
Page 4
Page 5
5. Stocks
2023 2022
£ £
Stock - Vehicles 931,570 942,590
Costs re stock vehicles 23,295 31,258
Stock - Other 2,500 2,500
957,365 976,348
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,572 424
Prepayments and accrued income 6,685 8,712
Sundry Debtors 75 75
Other taxes and social security 4 4
Directors' loan accounts - 1,600
10,336 10,815
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,894 26,109
Corporation tax 51,498 53,772
VAT 16,896 18,155
Net wages 737 737
A.E. Pension - creditors < 1 year) 142 142
Other creditors- customer deposits 52,500 1,000
BBL < 1 year) 10,648 10,648
J Langley - creditors < 1 year) 26,518 30,269
Z Langley - creditors < 1 year) 31,765 30,269
Lloyds TSB Credit Card (Current liabilities - creditors < 1 year) 3,043 2,180
Accruals and deferred income 1,540 1,781
Directors' loan accounts 185 4,760
217,366 179,822
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
BBL (Long term liabilities - creditors > 1 year) 14,302 24,192
14,302 24,192
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Shan Langley 1,600 - 1,600 - -
The above loan is unsecured, interest free and repayable on demand.
Page 6