Acorah Software Products - Accounts Production 14.5.501 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 00469196 Mr Stephen Potter-Crookes Mr Sam Potter-Crookes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 00469196 2022-12-31 00469196 2023-12-31 00469196 2023-01-01 2023-12-31 00469196 frs-core:CurrentFinancialInstruments 2023-12-31 00469196 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 00469196 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00469196 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 00469196 frs-core:MotorVehicles 2023-12-31 00469196 frs-core:MotorVehicles 2023-01-01 2023-12-31 00469196 frs-core:MotorVehicles 2022-12-31 00469196 frs-core:PlantMachinery 2023-12-31 00469196 frs-core:PlantMachinery 2023-01-01 2023-12-31 00469196 frs-core:PlantMachinery 2022-12-31 00469196 frs-core:ShareCapital 2023-12-31 00469196 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 00469196 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00469196 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 00469196 frs-bus:SmallEntities 2023-01-01 2023-12-31 00469196 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00469196 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00469196 frs-bus:Director1 2023-01-01 2023-12-31 00469196 frs-bus:Director2 2023-01-01 2023-12-31 00469196 frs-countries:EnglandWales 2023-01-01 2023-12-31 00469196 2021-12-31 00469196 2022-12-31 00469196 2022-01-01 2022-12-31 00469196 frs-core:CurrentFinancialInstruments 2022-12-31 00469196 frs-core:ShareCapital 2022-12-31 00469196 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 00469196
Buxton Brothers (Heanor) Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 00469196
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 219,080 211,330
219,080 211,330
CURRENT ASSETS
Stocks 5 526,533 463,693
Cash at bank and in hand 806,367 845,191
1,332,900 1,308,884
Creditors: Amounts Falling Due Within One Year 7 (400,603 ) (414,713 )
NET CURRENT ASSETS (LIABILITIES) 932,297 894,171
TOTAL ASSETS LESS CURRENT LIABILITIES 1,151,377 1,105,501
NET ASSETS 1,151,377 1,105,501
CAPITAL AND RESERVES
Called up share capital 8 2,600 2,600
Profit and Loss Account 1,148,777 1,102,901
SHAREHOLDERS' FUNDS 1,151,377 1,105,501
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Stephen Potter-Crookes
Director
31 July 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
Buxton Brothers (Heanor) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00469196 . The registered office is 109 Hands Road, Heanor, Derby, Derbyshire, DE75 7HB.
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:
Freehold Not depreciated
Plant & Machinery 25% straight line
Motor Vehicles 25% 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 3)
1 3
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2023 208,580 27,540 34,009 270,129
Additions - - 15,000 15,000
Disposals - - (5,500 ) (5,500 )
As at 31 December 2023 208,580 27,540 43,509 279,629
Depreciation
As at 1 January 2023 - 27,540 31,259 58,799
Provided during the period - - 4,500 4,500
Disposals - - (2,750 ) (2,750 )
As at 31 December 2023 - 27,540 33,009 60,549
Net Book Value
As at 31 December 2023 208,580 - 10,500 219,080
As at 1 January 2023 208,580 - 2,750 211,330
5. Stocks
2023 2022
£ £
Stock 526,533 463,693
6. Debtors
2023 2022
£ £
Due within one year
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 10,937 30,580
Other taxes and social security 4,364 -
VAT 515 1,280
Other creditors 25,166 17,366
Accruals and deferred income 2,060 2,060
Directors' loan accounts 357,561 363,427
400,603 414,713
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2,600 2,600
Page 4