Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 04104206 Mrs P D Carpenter Mrs A J Goodman-Carpenter Mr J J Carpenter iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04104206 2023-05-31 04104206 2024-05-31 04104206 2023-06-01 2024-05-31 04104206 frs-core:CurrentFinancialInstruments 2024-05-31 04104206 frs-core:ComputerEquipment 2024-05-31 04104206 frs-core:ComputerEquipment 2023-06-01 2024-05-31 04104206 frs-core:ComputerEquipment 2023-05-31 04104206 frs-core:ShareCapital 2024-05-31 04104206 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 04104206 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04104206 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 04104206 frs-bus:SmallEntities 2023-06-01 2024-05-31 04104206 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04104206 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04104206 frs-bus:Director1 2023-06-01 2024-05-31 04104206 frs-bus:Director2 2023-06-01 2024-05-31 04104206 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 04104206 frs-countries:EnglandWales 2023-06-01 2024-05-31 04104206 2022-05-31 04104206 2023-05-31 04104206 2022-06-01 2023-05-31 04104206 frs-core:CurrentFinancialInstruments 2023-05-31 04104206 frs-core:ShareCapital 2023-05-31 04104206 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 04104206
Touch-Needs Ltd
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04104206
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,752 3,440
2,752 3,440
CURRENT ASSETS
Stocks 5 12,616 14,989
Debtors 6 7,080 4,150
Cash at bank and in hand - 709
19,696 19,848
Creditors: Amounts Falling Due Within One Year 7 (16,064 ) (19,278 )
NET CURRENT ASSETS (LIABILITIES) 3,632 570
TOTAL ASSETS LESS CURRENT LIABILITIES 6,384 4,010
PROVISIONS FOR LIABILITIES
Deferred Taxation (643 ) (643 )
NET ASSETS 5,741 3,367
CAPITAL AND RESERVES
Called up share capital 206 206
Profit and Loss Account 5,535 3,161
SHAREHOLDERS' FUNDS 5,741 3,367
Page 1
Page 2
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 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
Mrs P D Carpenter
Director
24 July 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
Touch-Needs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04104206 . The registered office is 12 Juniper Road, Boreham, Chelmsford, Essex, CM3 3DB.
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:
Computer Equipment 25% on cost
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. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 June 2023 29,344
As at 31 May 2024 29,344
Depreciation
As at 1 June 2023 25,904
Provided during the period 688
As at 31 May 2024 26,592
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 2,752
As at 1 June 2023 3,440
5. Stocks
2024 2023
£ £
Stock 11,751 13,923
Work in progress 865 1,066
12,616 14,989
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,316 2,284
Prepayments and accrued income 5,297 1,399
Other debtors 467 467
7,080 4,150
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,805 13,313
Bank loans and overdrafts 1,877 -
Corporation tax 2,829 2,299
Other taxes and social security 187 186
VAT 1,581 988
Accruals and deferred income 2,429 2,180
Directors' loan accounts 356 312
16,064 19,278
Page 4