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Registered number: 04620194
Wonderful Windows and Conservatories Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Phelan Cloud Accounting
Chartered Certified Accountants
8A Basepoint Business Centre
Waterberry Drive
Waterlooville
Hampshire
PO7 7TH
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr J B Hunter
Secretary Miss A L Hoare
Company Number 04620194
Registered Office Stansted Park Garden Centre
Stansted Park
Rowlands Castle
Hampshire
PO9 6DX
Accountants Phelan Cloud Accounting
Chartered Certified Accountants
8A Basepoint Business Centre
Waterberry Drive
Waterlooville
Hampshire
PO7 7TH
Page 1
Page 2
Balance Sheet
Registered number: 04620194
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 18,874 25,697
18,874 25,697
CURRENT ASSETS
Stocks 10,000 22,500
Debtors 6 155,992 94,964
Cash at bank and in hand 58,958 66,680
224,950 184,144
Creditors: Amounts Falling Due Within One Year 7 (119,886 ) (104,456 )
NET CURRENT ASSETS (LIABILITIES) 105,064 79,688
TOTAL ASSETS LESS CURRENT LIABILITIES 123,938 105,385
Creditors: Amounts Falling Due After More Than One Year 8 (2,593 ) (11,148 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,719 ) (6,424 )
NET ASSETS 116,626 87,813
CAPITAL AND RESERVES
Called up share capital 10 99 99
Profit and Loss Account 116,527 87,714
SHAREHOLDERS' FUNDS 116,626 87,813
Page 2
Page 3
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 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
Mr J B Hunter
Director
24 September 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Wonderful Windows and Conservatories Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04620194 . The registered office is Stansted Park Garden Centre, Stansted Park, Rowlands Castle, Hampshire, PO9 6DX.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 4 years.
2.4. 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% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 January 2023 3,000
As at 31 December 2023 3,000
Amortisation
As at 1 January 2023 3,000
As at 31 December 2023 3,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 93,297
Additions 374
Disposals (4,380 )
As at 31 December 2023 89,291
Depreciation
As at 1 January 2023 67,600
Provided during the period 6,958
Disposals (4,141 )
As at 31 December 2023 70,417
Net Book Value
As at 31 December 2023 18,874
As at 1 January 2023 25,697
Page 5
Page 6
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 52,879 18,395
Other debtors 103,113 76,569
155,992 94,964
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,782 4,349
Bank loans and overdrafts 7,778 7,778
Other creditors 48,952 41,717
Taxation and social security 59,374 50,612
119,886 104,456
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,593 11,148
9. Secured Creditors
Of the creditors the following amounts are secured.
Bank loans relate to a loan granted under the Bounce Back Loan Scheme. In the event of default by the company, repayment of the loan and interest is guaranteed by the UK government.
2023 2022
£ £
Bank loans and overdrafts 10,371 18,926
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 99 99
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 12,000 8,055
Later than one year and not later than five years 24,000 -
36,000 8,055
Page 6
Page 7
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Jonathon Hunter 61,215 90,365 80,000 - 71,580
The above loan is unsecured and repayable on demand. Interest is charged on the loan at 2.25%. 
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