Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 02007295 Mrs Helen Waller Mr Marc Waller Mrs Helen Waller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02007295 2023-07-31 02007295 2024-07-31 02007295 2023-08-01 2024-07-31 02007295 frs-core:CurrentFinancialInstruments 2024-07-31 02007295 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 02007295 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 02007295 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 02007295 frs-core:PlantMachinery 2024-07-31 02007295 frs-core:PlantMachinery 2023-08-01 2024-07-31 02007295 frs-core:PlantMachinery 2023-07-31 02007295 frs-core:RevaluationReserve 2023-07-31 02007295 frs-core:RevaluationReserve 2024-07-31 02007295 frs-core:ShareCapital 2024-07-31 02007295 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 02007295 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02007295 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 02007295 frs-bus:SmallEntities 2023-08-01 2024-07-31 02007295 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 02007295 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 02007295 frs-bus:Director1 2023-08-01 2024-07-31 02007295 frs-bus:Director2 2023-08-01 2024-07-31 02007295 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 02007295 frs-countries:EnglandWales 2023-08-01 2024-07-31 02007295 2022-07-31 02007295 2023-07-31 02007295 2022-08-01 2023-07-31 02007295 frs-core:CurrentFinancialInstruments 2023-07-31 02007295 frs-core:RevaluationReserve 2023-07-31 02007295 frs-core:ShareCapital 2023-07-31 02007295 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 02007295
Wessex Autocolors Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
BOA Accountancy Limited t/a Berkeley Hall
Unit D2 Southgate
Commerce Park
Frome
BA11 2RY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02007295
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 130,951 135,897
130,951 135,897
CURRENT ASSETS
Stocks 5 - 245,957
Debtors 6 167,542 3,932
Cash at bank and in hand 369,805 296,674
537,347 546,563
Creditors: Amounts Falling Due Within One Year 7 (95,086 ) (101,348 )
NET CURRENT ASSETS (LIABILITIES) 442,261 445,215
TOTAL ASSETS LESS CURRENT LIABILITIES 573,212 581,112
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,006 ) (2,368 )
NET ASSETS 571,206 578,744
CAPITAL AND RESERVES
Called up share capital 8 200 200
Revaluation reserve 9 138,932 138,932
Profit and Loss Account 432,074 439,612
SHAREHOLDERS' FUNDS 571,206 578,744
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For the year ending 31 July 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 Marc Waller
Director
21/09/2024
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
Wessex Autocolors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02007295 . The registered office is Unit D2 Southgate, Commerce Park, Frome, BA11 2RY.
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:
Leasehold 75 years straight line
Plant & Machinery 10 years straight line
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.
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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 year 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 asset 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 August 2023 228,487 23,746 252,233
As at 31 July 2024 228,487 23,746 252,233
Depreciation
As at 1 August 2023 105,048 11,288 116,336
Provided during the period 3,046 1,900 4,946
As at 31 July 2024 108,094 13,188 121,282
Net Book Value
As at 31 July 2024 120,393 10,558 130,951
As at 1 August 2023 123,439 12,458 135,897
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5. Stocks
2024 2023
£ £
Stock - 245,957
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 3,413
VAT - 519
Directors' loan accounts 167,542 -
167,542 3,932
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,065 347
Corporation tax 38,259 34,706
VAT 59,421 -
Accruals and deferred income (6,659 ) 1,182
Directors' loan accounts - 65,113
95,086 101,348
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
9. Reserves
Revaluation Reserve
£
As at 1 August 2023 138,932
As at 31 July 2024 138,932
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