Acorah Software Products - Accounts Production 14.6.300 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 07250252 Mr Paul Macauley Ms Lisa Connell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07250252 2022-11-30 07250252 2023-11-30 07250252 2022-12-01 2023-11-30 07250252 frs-core:CurrentFinancialInstruments 2023-11-30 07250252 frs-core:ComputerEquipment 2022-12-01 2023-11-30 07250252 frs-core:FurnitureFittings 2022-12-01 2023-11-30 07250252 frs-core:PlantMachinery 2023-11-30 07250252 frs-core:PlantMachinery 2022-12-01 2023-11-30 07250252 frs-core:PlantMachinery 2022-11-30 07250252 frs-core:ShareCapital 2023-11-30 07250252 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07250252 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07250252 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07250252 frs-bus:SmallEntities 2022-12-01 2023-11-30 07250252 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07250252 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07250252 frs-bus:Director1 2022-12-01 2023-11-30 07250252 frs-bus:Director2 2022-12-01 2023-11-30 07250252 frs-countries:EnglandWales 2022-12-01 2023-11-30 07250252 2021-11-30 07250252 2022-11-30 07250252 2021-12-01 2022-11-30 07250252 frs-core:CurrentFinancialInstruments 2022-11-30 07250252 frs-core:ShareCapital 2022-11-30 07250252 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07250252
Macauley Smith Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07250252
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 2,817 2,519
2,817 2,519
CURRENT ASSETS
Stocks 4 165,854 85,065
Debtors 5 126,542 120,316
Cash at bank and in hand 444,319 485,649
736,715 691,030
Creditors: Amounts Falling Due Within One Year 6 (41,718 ) (35,076 )
NET CURRENT ASSETS (LIABILITIES) 694,997 655,954
TOTAL ASSETS LESS CURRENT LIABILITIES 697,814 658,473
NET ASSETS 697,814 658,473
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 697,813 658,472
SHAREHOLDERS' FUNDS 697,814 658,473
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For the year ending 30 November 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 Paul Macauley
Director
27/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
1.3. 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:
Fixtures & Fittings 25% reducing balance method
Computer Equipment 25% reducing balance method
1.4. 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.
1.5. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties and loans to related parties.
Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment.
Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method.
1.6. 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.
1.7. 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.
A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
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1.8. Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest
method so that the amount charged is at a constant rate on the carrying amount. Issue costs are
initially recognised as a reduction in the proceeds of the associated capital instrument.
1.9. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty
on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no
more than three months from the date of acquisition and that are readily convertible to known
amounts of cash with insignificant risk of change in value.
1.10. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at
an annual general meeting.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2022: 7)
8 7
3. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 December 2022 4,120
Additions 1,237
As at 30 November 2023 5,357
Depreciation
As at 1 December 2022 1,601
Provided during the period 939
As at 30 November 2023 2,540
Net Book Value
As at 30 November 2023 2,817
As at 1 December 2022 2,519
4. Stocks
2023 2022
£ £
Work in progress 165,854 85,065
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 20,364 14,139
Other debtors 106,178 106,177
126,542 120,316
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 11,127 1,828
Other creditors 5,238 6,363
Taxation and social security 25,353 26,885
41,718 35,076
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
8. General Information
Macauley Smith Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07250252 . The registered office is Unit 7b Evelyn Court, Deptford Park Business Centre, Grinstead Road, London, SE8 5AD.
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