Acorah Software Products - Accounts Production 14.5.601 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12634891 Miss Polina Karbanova iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12634891 2023-05-31 12634891 2024-05-31 12634891 2023-06-01 2024-05-31 12634891 frs-core:FurnitureFittings 2024-05-31 12634891 frs-core:FurnitureFittings 2023-06-01 2024-05-31 12634891 frs-core:FurnitureFittings 2023-05-31 12634891 frs-core:PlantMachinery 2024-05-31 12634891 frs-core:PlantMachinery 2023-06-01 2024-05-31 12634891 frs-core:PlantMachinery 2023-05-31 12634891 frs-core:ShareCapital 2024-05-31 12634891 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12634891 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12634891 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12634891 frs-bus:SmallEntities 2023-06-01 2024-05-31 12634891 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12634891 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12634891 frs-bus:Director1 2023-06-01 2024-05-31 12634891 frs-countries:EnglandWales 2023-06-01 2024-05-31 12634891 2022-05-31 12634891 2023-05-31 12634891 2022-06-01 2023-05-31 12634891 frs-core:ShareCapital 2023-05-31 12634891 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12634891
Good Fabric Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12634891
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 412 370
412 370
CURRENT ASSETS
Stocks 5 15,012 10,132
Cash at bank and in hand 892 2,661
15,904 12,793
Creditors: Amounts Falling Due Within One Year 6 (20,384 ) (21,402 )
NET CURRENT ASSETS (LIABILITIES) (4,480 ) (8,609 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,068 ) (8,239 )
NET LIABILITIES (4,068 ) (8,239 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (4,168 ) (8,339 )
SHAREHOLDERS' FUNDS (4,068) (8,239)
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For the year ending 31 May 2024 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 her 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
Miss Polina Karbanova
Director
22/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Good Fabric Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12634891 . The registered office is 21 Whitelands Crescent, London, England, SW18 5QY.
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.
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 25% Straight Line Method
Fixtures & Fittings 25% Straight Line Method
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. Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 221 701 922
Additions - 363 363
As at 31 May 2024 221 1,064 1,285
Depreciation
As at 1 June 2023 142 410 552
Provided during the period 55 266 321
As at 31 May 2024 197 676 873
Net Book Value
As at 31 May 2024 24 388 412
As at 1 June 2023 79 291 370
5. Stocks
2024 2023
£ £
Finished goods 15,012 10,132
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 20,384 21,402
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
The company was controlled throughout the current period by Miss Polina Karbanova by virtue of her ownership of the entire issued share capital.
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