Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04165131 Mr David Digby Mrs Julie Digby Mrs Julie Digby iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04165131 2023-03-31 04165131 2024-03-31 04165131 2023-04-01 2024-03-31 04165131 frs-core:CurrentFinancialInstruments 2024-03-31 04165131 frs-core:FurnitureFittings 2024-03-31 04165131 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04165131 frs-core:FurnitureFittings 2023-03-31 04165131 frs-core:MotorVehicles 2024-03-31 04165131 frs-core:MotorVehicles 2023-04-01 2024-03-31 04165131 frs-core:MotorVehicles 2023-03-31 04165131 frs-core:PlantMachinery 2024-03-31 04165131 frs-core:PlantMachinery 2023-04-01 2024-03-31 04165131 frs-core:PlantMachinery 2023-03-31 04165131 frs-core:ShareCapital 2024-03-31 04165131 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04165131 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04165131 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04165131 frs-bus:SmallEntities 2023-04-01 2024-03-31 04165131 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04165131 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04165131 frs-bus:Director1 2023-04-01 2024-03-31 04165131 frs-bus:Director2 2023-04-01 2024-03-31 04165131 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04165131 frs-countries:EnglandWales 2023-04-01 2024-03-31 04165131 2022-03-31 04165131 2023-03-31 04165131 2022-04-01 2023-03-31 04165131 frs-core:CurrentFinancialInstruments 2023-03-31 04165131 frs-core:ShareCapital 2023-03-31 04165131 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04165131
Digby & Co. (Neckwear) Limited
Financial Statements
For The Year Ended 31 March 2024
JDL Business Services Limited
Accountants and Consultants
304 High Road
Benfleet
Essex
SS7 5HB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04165131
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,081 3,701
3,081 3,701
CURRENT ASSETS
Stocks 5 14,500 14,500
Debtors 6 23,982 15,640
Cash at bank and in hand 1,504 6,873
39,986 37,013
Creditors: Amounts Falling Due Within One Year 7 (25,420 ) (18,966 )
NET CURRENT ASSETS (LIABILITIES) 14,566 18,047
TOTAL ASSETS LESS CURRENT LIABILITIES 17,647 21,748
NET ASSETS 17,647 21,748
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 17,547 21,648
SHAREHOLDERS' FUNDS 17,647 21,748
Page 1
Page 2
For the year ending 31 March 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 David Digby
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Digby & Co. (Neckwear) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04165131 . The registered office is 304 High Road, Benfleet, Essex, SS7 5HB.
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 15% Reducing balance basis
Motor Vehicles 25% Reducing balance basis
Fixtures & Fittings 15% Reducing balance basis
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 3,795 6,046 12,883 22,724
Additions - - 150 150
As at 31 March 2024 3,795 6,046 13,033 22,874
Depreciation
As at 1 April 2023 3,460 5,461 10,102 19,023
Provided during the period 67 117 586 770
As at 31 March 2024 3,527 5,578 10,688 19,793
Net Book Value
As at 31 March 2024 268 468 2,345 3,081
As at 1 April 2023 335 585 2,781 3,701
5. Stocks
2024 2023
£ £
Stock 14,500 14,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,982 15,347
VAT - 293
23,982 15,640
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,890 12,320
Bank loans and overdrafts 9,247 -
Corporation tax 1,830 2,477
VAT 1,162 -
Net wages 2,120 589
PAYE 1,021 430
Accruals and deferred income 3,150 3,150
25,420 18,966
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5