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Registered number: 11070612
Barron Restorations Limited
Director's Report and
Financial Statements
For The Year Ended 30 November 2023
M. C. Rabey Esq.
Endeavour House 3rd Floor
Coopers End Road
Stansted
Essex
CM24 1SJ
Contents
Page
Company Information 1
Director's Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Mr Spencer Batty
Company Number 11070612
Registered Office 2 Westminster Gardens
Chingford
London
E4 6ER
Accountants M. C. Rabey Esq.
Endeavour House 3rd Floor
Coopers End Road
Stansted
Essex
CM24 1SJ
Page 1
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Director's Report
The director presents his report and the financial statements for the year ended 30 November 2023.
Directors
The director who held office during the year were as follows:
Mr Spencer Batty
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Spencer Batty
Director
19/09/2024
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Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 80,002 61,135
Cost of sales (18,649 ) (14,533 )
GROSS PROFIT 61,353 46,602
Administrative expenses (38,663 ) (32,290 )
OPERATING PROFIT 22,690 14,312
Loss on disposal of fixed assets - (2,644 )
PROFIT BEFORE TAXATION 22,690 11,668
Tax on Profit (5,150 ) -
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 17,540 11,668
The notes on pages 5 to 6 form part of these financial statements.
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Page 4
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,593 12,791
9,593 12,791
CURRENT ASSETS
Cash at bank and in hand 6,758 -
6,758 -
Creditors: Amounts Falling Due Within One Year 5 (17,396 ) (11,376 )
NET CURRENT ASSETS (LIABILITIES) (10,638 ) (11,376 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,045 ) 1,415
NET (LIABILITIES)/ASSETS (1,045 ) 1,415
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (1,145 ) 1,315
SHAREHOLDERS' FUNDS (1,045) 1,415
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 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Spencer Batty
Director
19/09/2024
The notes on pages 5 to 6 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Barron Restorations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11070612 . The registered office is 2 Westminster Gardens, Chingford, London, E4 6ER.
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% WDV
Motor Vehicles 25% WDV
2.4. 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: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 895 16,550 17,445
As at 30 November 2023 895 16,550 17,445
Depreciation
As at 1 December 2022 517 4,137 4,654
Provided during the period 95 3,103 3,198
As at 30 November 2023 612 7,240 7,852
Net Book Value
As at 30 November 2023 283 9,310 9,593
As at 1 December 2022 378 12,413 12,791
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 700 699
Bank loans and overdrafts - 1,495
Corporation tax 5,150 -
Director's loan account 11,546 9,182
17,396 11,376
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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