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 06760977 Mr Kyung Kim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06760977 2022-12-31 06760977 2023-12-31 06760977 2023-01-01 2023-12-31 06760977 frs-core:CurrentFinancialInstruments 2023-12-31 06760977 frs-core:Non-currentFinancialInstruments 2023-12-31 06760977 frs-core:PlantMachinery 2023-12-31 06760977 frs-core:PlantMachinery 2023-01-01 2023-12-31 06760977 frs-core:PlantMachinery 2022-12-31 06760977 frs-core:ShareCapital 2023-12-31 06760977 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06760977 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06760977 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06760977 frs-bus:SmallEntities 2023-01-01 2023-12-31 06760977 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06760977 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06760977 frs-bus:Director1 2023-01-01 2023-12-31 06760977 frs-countries:EnglandWales 2023-01-01 2023-12-31 06760977 2021-12-31 06760977 2022-12-31 06760977 2022-01-01 2022-12-31 06760977 frs-core:CurrentFinancialInstruments 2022-12-31 06760977 frs-core:Non-currentFinancialInstruments 2022-12-31 06760977 frs-core:ShareCapital 2022-12-31 06760977 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 06760977
Seoil UK Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
KPY PHILLIPS YOUNG LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06760977
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50 67
50 67
CURRENT ASSETS
Stocks 5 160,969 82,432
Debtors 6 109,123 91,435
Cash at bank and in hand 136,136 174,860
406,228 348,727
Creditors: Amounts Falling Due Within One Year 7 (80,817 ) (28,361 )
NET CURRENT ASSETS (LIABILITIES) 325,411 320,366
TOTAL ASSETS LESS CURRENT LIABILITIES 325,461 320,433
Creditors: Amounts Falling Due After More Than One Year 8 636 636
NET ASSETS 326,097 321,069
CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Profit and Loss Account 296,097 291,069
SHAREHOLDERS' FUNDS 326,097 321,069
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 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 Kyung Kim
Director
13/08/2024
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
Seoil UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06760977 . The registered office is Suite 41, Manor Court Salesbury Hall Road, Ribchester, Preston, PR3 3XR.
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:
Plant & Machinery 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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 1,346
As at 31 December 2023 1,346
...CONTINUED
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Depreciation
As at 1 January 2023 1,279
Provided during the period 17
As at 31 December 2023 1,296
Net Book Value
As at 31 December 2023 50
As at 1 January 2023 67
5. Stocks
2023 2022
£ £
Finished goods 160,969 82,432
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 82,419 84,098
Prepayments and accrued income 165 84
VAT 26,539 7,253
109,123 91,435
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 79,071 26,678
Other creditors 173 173
Accruals and deferred income 1,573 1,510
80,817 28,361
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors (636 ) (636 )
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30,000 30,000
Page 4