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Registered number: 13768197
Marches Therapy Services Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Indigo Green Accountants Limited
Chartered Accountants
The Boar Shed
Shirlheath
Kingsland
Herefordshire
HR6 9RJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13768197
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,059 -
2,059 -
CURRENT ASSETS
Stocks 5 100 150
Debtors 6 523 1,858
Cash at bank and in hand 1,472 2,409
2,095 4,417
Creditors: Amounts Falling Due Within One Year 7 (3,543 ) (2,272 )
NET CURRENT ASSETS (LIABILITIES) (1,448 ) 2,145
TOTAL ASSETS LESS CURRENT LIABILITIES 611 2,145
PROVISIONS FOR LIABILITIES
Deferred Taxation (391 ) -
NET ASSETS 220 2,145
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 219 2,144
SHAREHOLDERS' FUNDS 220 2,145
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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 member has 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.
On behalf of the board
Ms Joanna Bruce
Director
30 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Marches Therapy Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13768197 . The registered office is Bury Cottage, Richards Castle, Ludlow, Shropshire, SY8 4EL.
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:
Fixtures & Fittings 20% Straight line
2.4. 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.
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2.5. Financial Instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year or on demand are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other operating expenses.
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in nonconvertible preference and non puttable orrdinary shares which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are intially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Directors loans are recognised at transaction price.
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.
2.7. 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.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2022 -
Additions 2,416
As at 30 November 2023 2,416
Depreciation
As at 1 December 2022 -
Provided during the period 357
As at 30 November 2023 357
Net Book Value
As at 30 November 2023 2,059
As at 1 December 2022 -
5. Stocks
2023 2022
£ £
Materials 100 150
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 523 1,858
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 2,515 1,512
Accruals and deferred income 986 750
Director's loan account 42 10
3,543 2,272
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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9. Capital Commitments
2023 2022
£ £
At the end of the period 1,396 -
At the end of the period, the company had capital commitments contracted for but not provided in these financial statements
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