Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07820142 Mr R B Lee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07820142 2022-12-31 07820142 2023-12-31 07820142 2023-01-01 2023-12-31 07820142 frs-core:CurrentFinancialInstruments 2023-12-31 07820142 frs-core:ComputerEquipment 2023-12-31 07820142 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07820142 frs-core:ComputerEquipment 2022-12-31 07820142 frs-core:FurnitureFittings 2023-12-31 07820142 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07820142 frs-core:FurnitureFittings 2022-12-31 07820142 frs-core:NetGoodwill 2023-12-31 07820142 frs-core:NetGoodwill 2023-01-01 2023-12-31 07820142 frs-core:NetGoodwill 2022-12-31 07820142 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 07820142 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 07820142 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07820142 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 07820142 frs-core:MotorVehicles 2023-12-31 07820142 frs-core:MotorVehicles 2023-01-01 2023-12-31 07820142 frs-core:MotorVehicles 2022-12-31 07820142 frs-core:PlantMachinery 2023-12-31 07820142 frs-core:PlantMachinery 2023-01-01 2023-12-31 07820142 frs-core:PlantMachinery 2022-12-31 07820142 frs-core:ShareCapital 2023-12-31 07820142 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07820142 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07820142 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07820142 frs-bus:SmallEntities 2023-01-01 2023-12-31 07820142 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07820142 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07820142 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 07820142 frs-bus:OrdinaryShareClass2 2023-12-31 07820142 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 07820142 frs-bus:OrdinaryShareClass3 2023-12-31 07820142 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 07820142 frs-bus:OrdinaryShareClass4 2023-12-31 07820142 frs-bus:OrdinaryShareClass5 2023-01-01 2023-12-31 07820142 frs-bus:OrdinaryShareClass5 2023-12-31 07820142 frs-core:DeferredTaxation 2023-01-01 2023-12-31 07820142 frs-core:DeferredTaxation 2022-12-31 07820142 frs-core:DeferredTaxation 2023-12-31 07820142 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-01-01 2023-12-31 07820142 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31 07820142 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 07820142 frs-bus:Director1 2023-01-01 2023-12-31 07820142 frs-countries:EnglandWales 2023-01-01 2023-12-31 07820142 2021-12-31 07820142 2022-12-31 07820142 2022-01-01 2022-12-31 07820142 frs-core:CurrentFinancialInstruments 2022-12-31 07820142 frs-core:ShareCapital 2022-12-31 07820142 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07820142 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 07820142 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 07820142 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31 07820142 frs-bus:OrdinaryShareClass5 2022-01-01 2022-12-31 07820142 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-12-31
Registered number: 07820142
Easyshed Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Easyshed Limited for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Easyshed Limited 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 us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Easyshed Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Easyshed Limited and state those matters that we have agreed to state to the director of Easyshed Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Easyshed Limited and its director as a body for our work or for this report.
It is your duty to ensure that Easyshed Limited 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 Easyshed Limited . You consider that Easyshed Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Easyshed Limited . 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
22 August 2024
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
Page 1
Page 2
Balance Sheet
Registered number: 07820142
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 45,643 65,243
Tangible Assets 5 770,473 772,870
Investment Properties 6 794,895 347,411
1,611,011 1,185,524
CURRENT ASSETS
Debtors 7 787,969 747,246
Cash at bank and in hand 435,921 810,485
1,223,890 1,557,731
Creditors: Amounts Falling Due Within One Year 8 (1,197,897 ) (964,273 )
NET CURRENT ASSETS (LIABILITIES) 25,993 593,458
TOTAL ASSETS LESS CURRENT LIABILITIES 1,637,004 1,778,982
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,235 ) (51,516 )
NET ASSETS 1,633,769 1,727,466
CAPITAL AND RESERVES
Called up share capital 10 10 10
Fair Value Reserve 12 105,321 88,702
Profit and Loss Account 1,528,438 1,638,754
SHAREHOLDERS' FUNDS 1,633,769 1,727,466
Page 2
Page 3
For the year ending 31 December 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 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 R B Lee
Director
22 August 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Easyshed Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07820142 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency of the financial statements is the Pound Sterling (£).
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years from 2021.
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:
Freehold 5% on reducing balance
Leasehold 5% on reducing balance
Plant & Machinery 20% on cost and 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Page 4
Page 5
2.6. 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.
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: 14)
1 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 197,999
As at 31 December 2023 197,999
Amortisation
As at 1 January 2023 132,756
Provided during the period 19,600
As at 31 December 2023 152,356
Net Book Value
As at 31 December 2023 45,643
As at 1 January 2023 65,243
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 January 2023 619,514 18,902 485,950 21,989
Additions - 970 313,976 -
Disposals (170,667 ) - (30,577 ) -
As at 31 December 2023 448,847 19,872 769,349 21,989
Depreciation
As at 1 January 2023 145,845 12,281 210,002 7,667
...CONTINUED
Page 5
Page 6
Provided during the period 9,891 1,900 141,812 2,145
Disposals (32,819 ) - (7,644 ) -
As at 31 December 2023 122,917 14,181 344,170 9,812
Net Book Value
As at 31 December 2023 325,930 5,691 425,179 12,177
As at 1 January 2023 473,669 6,621 275,948 14,322
Computer Equipment Total
£ £
Cost or Valuation
As at 1 January 2023 20,048 1,166,403
Additions - 314,946
Disposals - (201,244 )
As at 31 December 2023 20,048 1,280,105
Depreciation
As at 1 January 2023 17,738 393,533
Provided during the period 814 156,562
Disposals - (40,463 )
As at 31 December 2023 18,552 509,632
Net Book Value
As at 31 December 2023 1,496 770,473
As at 1 January 2023 2,310 772,870
6. Investment Property
2023
£
Fair Value
As at 1 January 2023 347,411
Additions 439,776
Revaluations 7,708
As at 31 December 2023 794,895
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 664,870 225,093
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 787,969 747,246
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 48 1,049
Other creditors 1,197,849 963,224
1,197,897 964,273
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 51,516 51,516
Deferred taxation (48,281 ) (48,281 )
Balance at 31 December 2023 3,235 3,235
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
5 Ordinary A shares of £ 1.00 each 5 5
1 Ordinary B shares of £ 1.00 each 1 1
2 Ordinary C shares of £ 1.00 each 2 2
2 Ordinary D shares of £ 1.00 each 2 2
10 10
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Reserves
Fair Value Reserve
£
As at 1 January 2023 88,702
Transfer to profit and loss 16,619
As at 31 December 2023 105,321
13. Related Party Transactions
The director of the company has loaned the company money which is interest free and repayable on demand.  At the end of the year the outstanding amounts totalled £341,005 (2022 - £168,540).
Monies owing to Beastshed Limited, a company of which the director has control, totalled £852,624 at the year end (2022 - £639,554). The loan is interest free.
Monies owing back from Water Research and Developement Consultancy Limited, a subsidery of the company of which owes the company monies totalling £682,465 at the year end (2022 - £524,163). The loan is interest free.
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