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 08338164 Mr Glenn Edwards Mr Russell Ward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08338164 2022-12-31 08338164 2023-12-31 08338164 2023-01-01 2023-12-31 08338164 frs-core:CurrentFinancialInstruments 2023-12-31 08338164 frs-core:Non-currentFinancialInstruments 2023-12-31 08338164 frs-core:BetweenOneFiveYears 2023-12-31 08338164 frs-core:ComputerEquipment 2023-12-31 08338164 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08338164 frs-core:ComputerEquipment 2022-12-31 08338164 frs-core:FurnitureFittings 2023-12-31 08338164 frs-core:FurnitureFittings 2023-01-01 2023-12-31 08338164 frs-core:FurnitureFittings 2022-12-31 08338164 frs-core:MotorVehicles 2023-01-01 2023-12-31 08338164 frs-core:WithinOneYear 2023-12-31 08338164 frs-core:CapitalRedemptionReserve 2023-12-31 08338164 frs-core:ShareCapital 2023-12-31 08338164 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08338164 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08338164 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08338164 frs-bus:SmallEntities 2023-01-01 2023-12-31 08338164 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08338164 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08338164 frs-bus:Director1 2023-01-01 2023-12-31 08338164 frs-bus:Director2 2023-01-01 2023-12-31 08338164 frs-countries:EnglandWales 2023-01-01 2023-12-31 08338164 2021-12-31 08338164 2022-12-31 08338164 2022-01-01 2022-12-31 08338164 frs-core:CurrentFinancialInstruments 2022-12-31 08338164 frs-core:Non-currentFinancialInstruments 2022-12-31 08338164 frs-core:BetweenOneFiveYears 2022-12-31 08338164 frs-core:WithinOneYear 2022-12-31 08338164 frs-core:CapitalRedemptionReserve 2022-12-31 08338164 frs-core:ShareCapital 2022-12-31 08338164 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08338164
Oakes Barn Partners Ltd
Unaudited 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: 08338164
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,394 12,720
13,394 12,720
CURRENT ASSETS
Stock 5 6,582 8,164
Debtors 6 11,826 8,502
Cash at bank and in hand 89,664 48,805
108,072 65,471
Creditors: Amounts Falling Due Within One Year 7 (66,263 ) (37,863 )
NET CURRENT ASSETS (LIABILITIES) 41,809 27,608
TOTAL ASSETS LESS CURRENT LIABILITIES 55,203 40,328
Creditors: Amounts Falling Due After More Than One Year 8 (6,000 ) (10,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,545 ) (2,417 )
NET ASSETS 46,658 27,911
CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 50 50
Profit and Loss Account 46,558 27,811
SHAREHOLDERS' FUNDS 46,658 27,911
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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 Glenn Edwards
Director
19 September 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
Oakes Barn Partners Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08338164 . The registered office is Oakes Barn, St Andrews Street South, Bury St. Edmunds, Suffolk, IP33 3PH.
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, excluding discounts, rebates, value added tax and other sales taxes.
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:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Office Equipment 33% on cost
2.4. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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2.6. Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £130 (2022: £96) were due to the fund. They are included in Other Creditors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2022: 26)
20 26
4. Tangible Assets
Fixtures & Fittings Office Equipment Total
£ £ £
Cost
As at 1 January 2023 43,416 2,498 45,914
Additions 4,781 - 4,781
As at 31 December 2023 48,197 2,498 50,695
Depreciation
As at 1 January 2023 31,230 1,964 33,194
Provided during the period 3,645 462 4,107
As at 31 December 2023 34,875 2,426 37,301
Net Book Value
As at 31 December 2023 13,322 72 13,394
As at 1 January 2023 12,186 534 12,720
5. Stock
2023 2022
£ £
Stock 6,582 8,164
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 11,616 8,292
Other debtors 210 210
11,826 8,502
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,055 3,237
Bank loans and overdrafts 3,796 3,696
Corporation tax 9,080 7,371
Social security & other taxes 17,147 17,272
Other creditors 21,022 3,930
Accrued expenses 5,163 2,357
66,263 37,863
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 6,000 10,000
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50 50
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 35,500 34,500
Later than one year and not later than five years 93,000 128,500
128,500 163,000
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £130 (2022: £96) were due to the fund. They are included in Other Creditors.
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