Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07197692 Mr John Mackin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07197692 2023-03-31 07197692 2024-03-31 07197692 2023-04-01 2024-03-31 07197692 frs-core:CurrentFinancialInstruments 2024-03-31 07197692 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07197692 frs-core:FurnitureFittings 2024-03-31 07197692 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07197692 frs-core:FurnitureFittings 2023-03-31 07197692 frs-core:MotorVehicles 2024-03-31 07197692 frs-core:MotorVehicles 2023-04-01 2024-03-31 07197692 frs-core:MotorVehicles 2023-03-31 07197692 frs-core:ShareCapital 2024-03-31 07197692 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07197692 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07197692 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07197692 frs-bus:SmallEntities 2023-04-01 2024-03-31 07197692 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07197692 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07197692 frs-bus:Director1 2023-04-01 2024-03-31 07197692 frs-countries:EnglandWales 2023-04-01 2024-03-31 07197692 2022-03-31 07197692 2023-03-31 07197692 2022-04-01 2023-03-31 07197692 frs-core:CurrentFinancialInstruments 2023-03-31 07197692 frs-core:ShareCapital 2023-03-31 07197692 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07197692
Discount Trading Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Golding Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07197692
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 159 399
159 399
CURRENT ASSETS
Stocks 5 112,000 155,000
Debtors 6 1,313 76
Cash at bank and in hand 1,032 870
114,345 155,946
Creditors: Amounts Falling Due Within One Year 7 (417,736 ) (368,407 )
NET CURRENT ASSETS (LIABILITIES) (303,391 ) (212,461 )
TOTAL ASSETS LESS CURRENT LIABILITIES (303,232 ) (212,062 )
NET LIABILITIES (303,232 ) (212,062 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (303,233 ) (212,063 )
SHAREHOLDERS' FUNDS (303,232) (212,062)
Page 1
Page 2
For the year ending 31 March 2024 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 John Mackin
Director
12 June 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Discount Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07197692 . The registered office is 7 Francis Close, Tiptree, Colchester, Essex, CO5 0BT.
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 financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued financial support of the director who, at the balance sheet date was owed £150,498 (2017 - £112,269) by the company. As this support is likely to be maintained the director believes it is appropriate for the financial statements to be prepared on the going concern basis.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate as the director, John Mackin, will continue funding the business.
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.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 3 years straight line
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 1,000 1,182 2,182
As at 31 March 2024 1,000 1,182 2,182
Depreciation
As at 1 April 2023 867 916 1,783
Provided during the period 33 207 240
As at 31 March 2024 900 1,123 2,023
Net Book Value
As at 31 March 2024 100 59 159
As at 1 April 2023 133 266 399
5. Stocks
2024 2023
£ £
Finished goods 112,000 155,000
6. Debtors
2024 2023
£ £
Due within one year
VAT 1,313 76
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,025 9,900
Bank loans and overdrafts 36,753 44,493
Other taxes and social security 119 -
Director's loan account 362,839 314,014
417,736 368,407
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4