Acorah Software Products - Accounts Production 15.0.600 false true true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 04258890 Mrs Gillian Patricia Barton Mr Pete Haines Mrs Gillian Patricia Barton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04258890 2022-08-31 04258890 2023-08-31 04258890 2022-09-01 2023-08-31 04258890 frs-core:CurrentFinancialInstruments 2023-08-31 04258890 frs-core:FurnitureFittings 2023-08-31 04258890 frs-core:FurnitureFittings 2022-09-01 2023-08-31 04258890 frs-core:FurnitureFittings 2022-08-31 04258890 frs-core:MotorVehicles 2023-08-31 04258890 frs-core:MotorVehicles 2022-09-01 2023-08-31 04258890 frs-core:MotorVehicles 2022-08-31 04258890 frs-core:PlantMachinery 2023-08-31 04258890 frs-core:PlantMachinery 2022-09-01 2023-08-31 04258890 frs-core:PlantMachinery 2022-08-31 04258890 frs-core:WithinOneYear 2023-08-31 04258890 frs-core:ShareCapital 2023-08-31 04258890 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 04258890 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04258890 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 04258890 frs-bus:SmallEntities 2022-09-01 2023-08-31 04258890 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04258890 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04258890 frs-core:DeferredTaxation 2022-09-01 2023-08-31 04258890 frs-core:DeferredTaxation 2022-08-31 04258890 frs-core:DeferredTaxation 2023-08-31 04258890 frs-bus:Director1 2022-09-01 2023-08-31 04258890 frs-bus:Director2 2022-09-01 2023-08-31 04258890 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 04258890 frs-countries:EnglandWales 2022-09-01 2023-08-31 04258890 2021-08-31 04258890 2022-08-31 04258890 2021-09-01 2022-08-31 04258890 frs-core:CurrentFinancialInstruments 2022-08-31 04258890 frs-core:BetweenOneFiveYears 2022-08-31 04258890 frs-core:WithinOneYear 2022-08-31 04258890 frs-core:ShareCapital 2022-08-31 04258890 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 04258890
Good With Wood (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04258890
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 116,941 171,909
116,941 171,909
CURRENT ASSETS
Stocks 5 134,639 89,280
Debtors 6 214,770 214,419
Cash at bank and in hand 34,872 125,346
384,281 429,045
Creditors: Amounts Falling Due Within One Year 7 (331,631 ) (354,992 )
NET CURRENT ASSETS (LIABILITIES) 52,650 74,053
TOTAL ASSETS LESS CURRENT LIABILITIES 169,591 245,962
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,892 ) (32,662 )
NET ASSETS 155,699 213,300
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 155,599 213,200
SHAREHOLDERS' FUNDS 155,699 213,300
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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 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 Gillian Patricia Barton
Director
30 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Good With Wood (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04258890 . The registered office is 143 Bromsgrove Street, Birmingham, B5 6RG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The currency presentation is pound sterling.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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.
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 or on dispatch of 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.
2.4. 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
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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. 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 year 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 asset reflects 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.
2.8. 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.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Employee benefits
When employees have rendered service to the company, short-term employee benefits, to which the employees are entitled, are recognised at the undiscounted amount expected to be paid in exchange for that service.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: 19)
18 19
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2022 231,605 67,218 10,466 309,289
Additions 5,500 - - 5,500
Disposals (42,526 ) - - (42,526 )
As at 31 August 2023 194,579 67,218 10,466 272,263
...CONTINUED
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Depreciation
As at 1 September 2022 80,962 48,969 7,449 137,380
Provided during the period 22,873 4,562 452 27,887
Disposals (9,945 ) - - (9,945 )
As at 31 August 2023 93,890 53,531 7,901 155,322
Net Book Value
As at 31 August 2023 100,689 13,687 2,565 116,941
As at 1 September 2022 150,643 18,249 3,017 171,909
5. Stocks
2023 2022
£ £
Stock 104,569 78,877
Finished goods 30,070 10,403
134,639 89,280
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 187,223 187,372
Other debtors 27,547 27,047
214,770 214,419
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 75,880 49,579
Bank loans and overdrafts 4 -
Other creditors 225,396 266,560
Taxation and social security 30,351 38,853
331,631 354,992
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 September 2022 32,662 32,662
Utilised (8,326 ) (8,326)
Reversals (10,444 ) (10,444)
Balance at 31 August 2023 13,892 13,892
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 48,600 26,400
Later than one year and not later than five years - 45,880
48,600 72,280
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