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Registered number: 10041450
Elden Construction Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Kerrs Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
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Balance Sheet
Registered number: 10041450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,204 10,993
18,204 10,993
CURRENT ASSETS
Stocks 5 340 17,500
Debtors 6 645,183 589,773
Investments 7 200,000 -
Cash at bank and in hand 22,328 159,914
867,851 767,187
Creditors: Amounts Falling Due Within One Year 8 (129,303 ) (145,431 )
NET CURRENT ASSETS (LIABILITIES) 738,548 621,756
TOTAL ASSETS LESS CURRENT LIABILITIES 756,752 632,749
NET ASSETS 756,752 632,749
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 756,751 632,748
SHAREHOLDERS' FUNDS 756,752 632,749
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For the year ending 30 April 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 his 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
Matthew Critchley
Director
20/09/2024
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
Elden Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10041450 . The registered office is 266-268 Wickham Road Shirley, Croydon, Surrey, CR0 8BJ.
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:
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 35,627 889 36,516
Additions 14,750 - 14,750
Disposals (6,198 ) - (6,198 )
As at 30 April 2024 44,179 889 45,068
Depreciation
As at 1 May 2023 24,845 678 25,523
Provided during the period 6,015 53 6,068
Disposals (4,727 ) - (4,727 )
As at 30 April 2024 26,133 731 26,864
Net Book Value
As at 30 April 2024 18,046 158 18,204
As at 1 May 2023 10,782 211 10,993
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5. Stocks
2024 2023
£ £
Work in progress 340 17,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 132,927 156,571
Other debtors 174,500 195,500
Associated company loan 337,756 237,702
645,183 589,773
7. Current Asset Investments
2024 2023
£ £
Short term deposits 200,000 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,353 20,459
Corporation tax 48,854 43,021
Other taxes and social security 4,856 5,854
VAT 54,439 67,654
Accruals and deferred income 3,300 3,197
Director's loan account 5,501 5,246
129,303 145,431
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
At the end of the year, the company had an outstanding loan balance with an associated company totalling £337,756 (2023 - £237,702). This loan has been provided interest free and is repayable on demand. 
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