Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 07908816 Mrs Barbara Gaunt Mr Jonathan Gaunt true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07908816 2022-12-31 07908816 2023-12-31 07908816 2023-01-01 2023-12-31 07908816 frs-core:CurrentFinancialInstruments 2023-12-31 07908816 frs-core:FurnitureFittings 2023-12-31 07908816 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07908816 frs-core:FurnitureFittings 2022-12-31 07908816 frs-core:PlantMachinery 2023-12-31 07908816 frs-core:PlantMachinery 2023-01-01 2023-12-31 07908816 frs-core:PlantMachinery 2022-12-31 07908816 frs-core:WithinOneYear 2023-12-31 07908816 frs-core:ShareCapital 2023-12-31 07908816 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07908816 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07908816 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07908816 frs-bus:SmallEntities 2023-01-01 2023-12-31 07908816 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07908816 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07908816 1 2023-01-01 2023-12-31 07908816 frs-bus:Director1 2023-01-01 2023-12-31 07908816 frs-bus:Director2 2023-01-01 2023-12-31 07908816 1 2023-01-01 2023-12-31 07908816 frs-countries:EnglandWales 2023-01-01 2023-12-31 07908816 2021-12-31 07908816 2022-12-31 07908816 2022-01-01 2022-12-31 07908816 frs-core:CurrentFinancialInstruments 2022-12-31 07908816 frs-core:WithinOneYear 2022-12-31 07908816 frs-core:ShareCapital 2022-12-31 07908816 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07908816 1 2022-01-01 2022-12-31
Registered number: 07908816
FD Works Limited
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07908816
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,132 17,085
11,132 17,085
CURRENT ASSETS
Debtors 5 23,959 50,766
Cash at bank and in hand 355,218 339,246
379,177 390,012
Creditors: Amounts Falling Due Within One Year 6 (166,188 ) (122,686 )
NET CURRENT ASSETS (LIABILITIES) 212,989 267,326
TOTAL ASSETS LESS CURRENT LIABILITIES 224,121 284,411
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,656 ) (3,028 )
NET ASSETS 222,465 281,383
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 222,365 281,283
SHAREHOLDERS' FUNDS 222,465 281,383
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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 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 Jonathan Gaunt
Director
17/09/2024
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
FD Works Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07908816 . The registered office is Unit 14, Greenway Farm, Bath Road, Wick, Bristol, BS30 5RL.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Plant & Machinery over 2 years
Fixtures & Fittings no depreciation
The assets within the Fixtures & Fittings category have an indeterminable useful life. Therefore, no depreciation is being applied under FRS 102 Section 17 Property, Plant and Equipment.
2.4. 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.
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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Total 18 19
18 19
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 72,419 4,508 76,927
Additions 4,116 - 4,116
Disposals (1,293 ) - (1,293 )
As at 31 December 2023 75,242 4,508 79,750
Depreciation
As at 1 January 2023 59,842 - 59,842
Provided during the period 9,445 - 9,445
Disposals (669 ) - (669 )
As at 31 December 2023 68,618 - 68,618
Net Book Value
As at 31 December 2023 6,624 4,508 11,132
As at 1 January 2023 12,577 4,508 17,085
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 21,059 47,866
Other debtors 2,900 2,900
23,959 50,766
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,349 4,175
Other taxes and social security 48,362 72,939
Other creditors - 320
Accruals and deferred income - 1,910
Directors' loan accounts 116,477 43,342
166,188 122,686
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 14,712 14,052
14,712 14,052
9. Ultimate Controlling Party
The company is controlled by its directors by virtue of their shareholding.
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