Acorah Software Products - Accounts Production 15.0.500 false true true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 11306121 Alison Yang-wooldridge Alison Yang-wooldridge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11306121 2022-08-31 11306121 2023-08-31 11306121 2022-09-01 2023-08-31 11306121 frs-core:Non-currentFinancialInstruments 2023-08-31 11306121 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-01 2023-08-31 11306121 frs-core:FurnitureFittings 2022-09-01 2023-08-31 11306121 frs-core:ShareCapital 2023-08-31 11306121 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 11306121 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11306121 frs-bus:AbridgedAccounts 2022-09-01 2023-08-31 11306121 frs-bus:SmallEntities 2022-09-01 2023-08-31 11306121 frs-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 11306121 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 11306121 frs-bus:Director1 2022-09-01 2023-08-31 11306121 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 11306121 frs-countries:EnglandWales 2022-09-01 2023-08-31 11306121 2021-08-31 11306121 2022-08-31 11306121 2021-09-01 2022-08-31 11306121 frs-core:Non-currentFinancialInstruments 2022-08-31 11306121 frs-core:ShareCapital 2022-08-31 11306121 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 11306121
Unit 18 Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2023
Fusion Accountants Ltd
ICAEW, ATT
Contents
Page
Company Information 1
Accountant's Report 2
Abridged Balance Sheet 3—4
Notes to the Abridged Financial Statements 5—7
Page 1
Company Information
Director Alison Yang-wooldridge
Secretary Alison Yang-wooldridge
Company Number 11306121
Registered Office Unit 8 Babdown
Tetbury
GL8 8GQ
Accountants Fusion Accountants Ltd
ICAEW, ATT
Suite 2, First Floor Profile West
950 Great West Road
Brentford
TW8 9ES
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Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Unit 18 Ltd for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Unit 18 Ltd for the year ended 31 August 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Unit 18 Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Unit 18 Ltd and state those matters that we have agreed to state to the director of Unit 18 Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Unit 18 Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Unit 18 Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Unit 18 Ltd . You consider that Unit 18 Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Unit 18 Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
27/08/2024
Fusion Accountants Ltd
ICAEW, ATT
Suite 2, First Floor Profile West
950 Great West Road
Brentford
TW8 9ES
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Abridged Balance Sheet
Registered number: 11306121
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 47,337 64,047
Tangible Assets 5 21,204 32,584
68,541 96,631
CURRENT ASSETS
Stocks 1,296,704 2,020,689
Debtors 2,680,036 2,087,024
Cash at bank and in hand 66,940 14,771
4,043,680 4,122,484
Creditors: Amounts Falling Due Within One Year (1,669,520 ) (1,952,174 )
NET CURRENT ASSETS (LIABILITIES) 2,374,160 2,170,310
TOTAL ASSETS LESS CURRENT LIABILITIES 2,442,701 2,266,941
Creditors: Amounts Falling Due After More Than One Year (3,045,917 ) (1,891,357 )
NET (LIABILITIES)/ASSETS (603,216 ) 375,584
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (603,316 ) 375,484
SHAREHOLDERS' FUNDS (603,216) 375,584
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For the year ending 31 August 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 director acknowledges her 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 August 2023 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 27 August 2024 and were signed on its behalf by:
Alison Yang-wooldridge
Director
27/08/2024
The notes on pages 5 to 7 form part of these financial statements.
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Page 5
Notes to the Abridged Financial Statements
1. General Information
Unit 18 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11306121 . The registered office is Unit 8 Babdown, Tetbury, GL8 8GQ.
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.
Presentation currency
Monetary figures for this client's accounts will be reported in United Kingdom, Pounds sterling £.
2.2. Going Concern Disclosure
The company was loss making in the year ended 31 August 2023 and the director has given consideration to the ongoing geopolitical uncertainties with a review of trade and solvency of the business. The director will continue to review the company's position and react accordingly. At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Websites:                                       25% straight line
Brands, Patents, Copyrights:   10% straight line  
2.5. 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 depreciated on straight line method 25% on cost.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
2.6. 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.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Intangible Assets
Total
£
Cost
As at 1 September 2022 145,702
Disposals (6,799 )
As at 31 August 2023 138,903
Amortisation
As at 1 September 2022 81,655
Provided during the period 16,710
Disposals (6,799 )
As at 31 August 2023 91,566
Net Book Value
As at 31 August 2023 47,337
As at 1 September 2022 64,047
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5. Tangible Assets
Total
£
Cost
As at 1 September 2022 45,522
As at 31 August 2023 45,522
Depreciation
As at 1 September 2022 12,938
Provided during the period 11,380
As at 31 August 2023 24,318
Net Book Value
As at 31 August 2023 21,204
As at 1 September 2022 32,584
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
100 Ordinary shares of £1 each
7. Related Party Transactions
During the year the company maintained a loan account with a connected company Terrastyle UK Limited. At the year end the balance outstanding and included within other debtors was £29,731 (2022: £7000). 
During the year the company maintained a loan account with a connected company Mycle Ltd. At the year end the balance outstanding and included within other debtors was £1,295,958 (2022: £ 1,942,174). 
During the year the company maintained a loan account with a connected company Woodlodge Products Limited. At the year end the balance outstanding and included within other creditors due after one year was £3,045,917 (2022: £1,891,325). 
No interest is charged on these balances and they are repayable on demand.
8. Directors' transactions
During the year the company maintained a loan account with the director. At the year end the balance outstanding and included within other creditors was £23,815.92 (2022: £22,107). The balance is not interest bearing and there are no set repayment terms.
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