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Registered number: 11123315
Southeast Trailers Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11123315
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,943 23,758
12,943 23,758
CURRENT ASSETS
Stocks 5 143,288 141,693
Debtors 6 5,453 22,323
Cash at bank and in hand 137,659 89,325
286,400 253,341
Creditors: Amounts Falling Due Within One Year 7 (178,843 ) (154,127 )
NET CURRENT ASSETS (LIABILITIES) 107,557 99,214
TOTAL ASSETS LESS CURRENT LIABILITIES 120,500 122,972
Creditors: Amounts Falling Due After More Than One Year 8 (4,512 ) (6,984 )
NET ASSETS 115,988 115,988
CAPITAL AND RESERVES
Called up share capital 9 101 101
Income Statement 115,887 115,887
SHAREHOLDERS' FUNDS 115,988 115,988
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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 Income Statement.
On behalf of the board
Ellis Viner
Director
31/08/2024
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
Southeast Trailers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11123315 . The registered office is Hawthorne Cottage, Hampstead Lane, Yalding, KENT, ME18 6HJ.
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 income statement over its estimated economic life of 5 years.
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 15% Reducing Balance
Leasehold 15% Reducing Balance
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
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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 income statement 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 income statement 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was 1 (2022: 1)
1 1
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 6,083 662 44,428 3,866
Additions 2,139 - - -
As at 31 December 2023 8,222 662 44,428 3,866
Depreciation
As at 1 January 2023 1,964 333 26,339 2,844
Provided during the period 939 110 11,107 699
As at 31 December 2023 2,903 443 37,446 3,543
Net Book Value
As at 31 December 2023 5,319 219 6,982 323
As at 1 January 2023 4,119 329 18,089 1,022
Computer Equipment Total
£ £
Cost
As at 1 January 2023 1,234 56,273
Additions - 2,139
As at 31 December 2023 1,234 58,412
Depreciation
As at 1 January 2023 1,035 32,515
Provided during the period 99 12,954
As at 31 December 2023 1,134 45,469
Net Book Value
As at 31 December 2023 100 12,943
As at 1 January 2023 199 23,758
5. Stocks
2023 2022
£ £
Stock 143,288 141,693
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 18,420
Deferred tax current asset 5,453 3,903
5,453 22,323
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 133,735 98,407
Bank loans and overdrafts 21,144 23,571
Corporation tax 2,162 13,335
VAT 8,328 3,053
Accruals and deferred income 4,279 7,678
Director's loan account 119 7
Amounts owed to other participating interests 9,076 8,076
178,843 154,127
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 4,512 6,984
4,512 6,984
Bank loans due after one year include a HSBC bounceback loan at 2.5% per annum.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 101 101
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