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 03521023 Mr Malcolm Acors Mr Thomas Acors Mr Malcolm Acors iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03521023 2023-03-31 03521023 2024-03-31 03521023 2023-04-01 2024-03-31 03521023 frs-core:CurrentFinancialInstruments 2024-03-31 03521023 frs-core:Non-currentFinancialInstruments 2024-03-31 03521023 frs-core:ComputerEquipment 2024-03-31 03521023 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03521023 frs-core:ComputerEquipment 2023-03-31 03521023 frs-core:ShareCapital 2024-03-31 03521023 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03521023 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03521023 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03521023 frs-bus:SmallEntities 2023-04-01 2024-03-31 03521023 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03521023 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03521023 frs-bus:Director1 2023-04-01 2024-03-31 03521023 frs-bus:Director2 2023-04-01 2024-03-31 03521023 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03521023 frs-countries:EnglandWales 2023-04-01 2024-03-31 03521023 2022-03-31 03521023 2023-03-31 03521023 2022-04-01 2023-03-31 03521023 frs-core:CurrentFinancialInstruments 2023-03-31 03521023 frs-core:Non-currentFinancialInstruments 2023-03-31 03521023 frs-core:ShareCapital 2023-03-31 03521023 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03521023
Ultimate Kelmscott Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03521023
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 5 5,000 5,000
Debtors 6 30,126 23,775
Cash at bank and in hand 22,036 26,195
57,162 54,970
Creditors: Amounts Falling Due Within One Year 7 (31,438 ) (22,502 )
NET CURRENT ASSETS (LIABILITIES) 25,724 32,468
TOTAL ASSETS LESS CURRENT LIABILITIES 25,724 32,468
Creditors: Amounts Falling Due After More Than One Year 8 (18,214 ) (28,271 )
NET ASSETS 7,510 4,197
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 6,510 3,197
SHAREHOLDERS' FUNDS 7,510 4,197
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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 Thomas Acors
Director
23rd August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ultimate Kelmscott Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03521023 . The registered office is 203 London Road, Hadleigh, Benfleet, Essex, SS7 2RD.
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:
Computer Equipment strailght line over 3 years
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 1,108
As at 31 March 2024 1,108
Depreciation
As at 1 April 2023 1,108
As at 31 March 2024 1,108
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Stocks
2024 2023
£ £
Materials 5,000 5,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,582 21,165
Prepayments and accrued income 1,262 1,164
Corporation tax recoverable assets - 511
Amounts owed by group undertakings 282 935
30,126 23,775
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,589 5,520
Bank loans and overdrafts 10,056 9,808
Corporation tax 1,524 -
Other taxes and social security 229 318
VAT 641 -
Accruals and deferred income 3,392 3,230
Directors' loan accounts 12,007 3,626
31,438 22,502
The company received a government bounce back loan of £50,000 through National Westminster Banl plc to support the business during the coronavirus pandemic. This loan is included in both short-term and long-term creditors according to when the repayments fall due.
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,214 28,271
9. Secured Creditors
Of the creditors the following amounts are secured by Government guarantee:
2024 2023
£ £
Bank loans and overdrafts 28,270 38,079
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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