Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 07424665 Mr Ian Follows iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07424665 2022-11-30 07424665 2023-11-30 07424665 2022-12-01 2023-11-30 07424665 frs-core:CurrentFinancialInstruments 2023-11-30 07424665 frs-core:Non-currentFinancialInstruments 2023-11-30 07424665 frs-core:ComputerEquipment 2023-11-30 07424665 frs-core:ComputerEquipment 2022-12-01 2023-11-30 07424665 frs-core:ComputerEquipment 2022-11-30 07424665 frs-core:FurnitureFittings 2023-11-30 07424665 frs-core:FurnitureFittings 2022-12-01 2023-11-30 07424665 frs-core:FurnitureFittings 2022-11-30 07424665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-30 07424665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 07424665 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-30 07424665 frs-core:MotorVehicles 2023-11-30 07424665 frs-core:MotorVehicles 2022-12-01 2023-11-30 07424665 frs-core:MotorVehicles 2022-11-30 07424665 frs-core:ShareCapital 2023-11-30 07424665 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07424665 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07424665 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07424665 frs-bus:SmallEntities 2022-12-01 2023-11-30 07424665 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07424665 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07424665 frs-bus:Director1 2022-12-01 2023-11-30 07424665 frs-countries:EnglandWales 2022-12-01 2023-11-30 07424665 2021-11-30 07424665 2022-11-30 07424665 2021-12-01 2022-11-30 07424665 frs-core:CurrentFinancialInstruments 2022-11-30 07424665 frs-core:Non-currentFinancialInstruments 2022-11-30 07424665 frs-core:ShareCapital 2022-11-30 07424665 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07424665
WORKSHOP EQUIPMENT SUPPLIES LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07424665
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 56,784 73,235
56,784 73,235
CURRENT ASSETS
Stocks 5 168,496 51,000
Debtors 6 502,791 488,534
Cash at bank and in hand 82,544 183,230
753,831 722,764
Creditors: Amounts Falling Due Within One Year 7 (125,453 ) (110,521 )
NET CURRENT ASSETS (LIABILITIES) 628,378 612,243
TOTAL ASSETS LESS CURRENT LIABILITIES 685,162 685,478
NET ASSETS 685,162 685,478
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 685,062 685,378
SHAREHOLDERS' FUNDS 685,162 685,478
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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 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 Ian Follows
Director
11th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
WORKSHOP EQUIPMENT SUPPLIES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07424665 . The registered office is 82 High Street, Golborne, Warrington, WA3 3DA.
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.
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:
Leasehold 10% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 20% Straight line
Computer Equipment 33% 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.
2.5. 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: 2 (2022: 2)
2 2
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4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 19,312 132,806 1,166 5,887 159,171
As at 30 November 2023 19,312 132,806 1,166 5,887 159,171
Depreciation
As at 1 December 2022 1,931 79,410 233 4,362 85,936
Provided during the period 1,931 13,349 233 938 16,451
As at 30 November 2023 3,862 92,759 466 5,300 102,387
Net Book Value
As at 30 November 2023 15,450 40,047 700 587 56,784
As at 1 December 2022 17,381 53,396 933 1,525 73,235
5. Stocks
2023 2022
£ £
Stock 168,496 51,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 133,919 187,069
Prepayments and accrued income 3,933 2,366
Other debtors 30,200 -
Corporation tax recoverable assets 4,742 -
VAT 15,768 -
188,562 189,435
Due after more than one year
Other debtors 314,229 299,099
502,791 488,534
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 85,180 90,387
Corporation tax 22,680 (2,209 )
Other taxes and social security 68 115
VAT - 21,671
Other creditors - 557
Director's loan account 17,525 -
125,453 110,521
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
At the balance sheet date the company was owed £314,229 from an associated company Willow Properties Lowton Limited, a company registered in England and Wales registration number 10009186.
Included in the balance of other debtors is the amount £17,000 due from a relative of the directors.  The loan is repayable over a term of five years and interest is charged at the official rate.
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