Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04340176 Mrs Elizabeth Green Mr Gary Green Mrs Jean Green Mr Robert Green Mr Robin Baverstock Mr Gary Green iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04340176 2023-03-31 04340176 2024-03-31 04340176 2023-04-01 2024-03-31 04340176 frs-core:CurrentFinancialInstruments 2024-03-31 04340176 frs-core:ComputerEquipment 2024-03-31 04340176 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04340176 frs-core:ComputerEquipment 2023-03-31 04340176 frs-core:FurnitureFittings 2024-03-31 04340176 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04340176 frs-core:FurnitureFittings 2023-03-31 04340176 frs-core:NetGoodwill 2024-03-31 04340176 frs-core:NetGoodwill 2023-04-01 2024-03-31 04340176 frs-core:NetGoodwill 2023-03-31 04340176 frs-core:MotorVehicles 2024-03-31 04340176 frs-core:MotorVehicles 2023-04-01 2024-03-31 04340176 frs-core:MotorVehicles 2023-03-31 04340176 frs-core:PlantMachinery 2024-03-31 04340176 frs-core:PlantMachinery 2023-04-01 2024-03-31 04340176 frs-core:PlantMachinery 2023-03-31 04340176 frs-core:ShareCapital 2024-03-31 04340176 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04340176 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04340176 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04340176 frs-bus:SmallEntities 2023-04-01 2024-03-31 04340176 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04340176 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04340176 frs-bus:Director1 2023-04-01 2024-03-31 04340176 frs-bus:Director2 2023-04-01 2024-03-31 04340176 frs-bus:Director3 2023-04-01 2024-03-31 04340176 frs-bus:Director4 2023-04-01 2024-03-31 04340176 frs-bus:Director5 2023-04-01 2024-03-31 04340176 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04340176 frs-countries:EnglandWales 2023-04-01 2024-03-31 04340176 2022-03-31 04340176 2023-03-31 04340176 2022-04-01 2023-03-31 04340176 frs-core:CurrentFinancialInstruments 2023-03-31 04340176 frs-core:ShareCapital 2023-03-31 04340176 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04340176
1st Waterside Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Kara Accountants Limited
Chartered Institute of Management Accountants
The Square
Fawley
Southampton
Hampshire
SO45 1DD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04340176
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 27,097 38,671
27,097 38,671
CURRENT ASSETS
Debtors 6 117,467 155,876
Cash at bank and in hand 636,568 414,794
754,035 570,670
Creditors: Amounts Falling Due Within One Year 7 (221,280 ) (205,148 )
NET CURRENT ASSETS (LIABILITIES) 532,755 365,522
TOTAL ASSETS LESS CURRENT LIABILITIES 559,852 404,193
NET ASSETS 559,852 404,193
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 558,852 403,193
SHAREHOLDERS' FUNDS 559,852 404,193
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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 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 Robert Green
Director
20th September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
1st Waterside Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04340176 . The registered office is Unit 1 Trident Business Park, Shore Road, Hythe, Hampshire, SO45 6GJ.
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 profit and loss account over its estimated economic life of .... 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:
Plant & Machinery 25% reducung balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 18)
18 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 19,661
As at 31 March 2024 19,661
Amortisation
As at 1 April 2023 19,661
As at 31 March 2024 19,661
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 45,294 111,024 77,323 33,679 267,320
Additions - - - 1,188 1,188
As at 31 March 2024 45,294 111,024 77,323 34,867 268,508
Depreciation
As at 1 April 2023 44,787 78,000 74,795 31,067 228,649
Provided during the period 169 8,256 1,913 2,424 12,762
As at 31 March 2024 44,956 86,256 76,708 33,491 241,411
Net Book Value
As at 31 March 2024 338 24,768 615 1,376 27,097
As at 1 April 2023 507 33,024 2,528 2,612 38,671
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 86,201 153,969
Prepayments and accrued income 10,371 9,181
Other debtors 20,895 (7,274 )
117,467 155,876
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 49,561 97,755
Corporation tax 109,548 66,657
VAT 38,576 39,675
Other creditors 23,153 -
Accruals and deferred income 442 1,061
221,280 205,148
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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