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Registered number: 12032099
The Chateau Publishing Limited
Financial Statements
For The Year Ended 31 December 2023
Fruition Accountancy Limited
Unit 4 Three Spires House, Station Road
Lichfield
WS13 6HX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12032099
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 32,984 95,752
Tangible Assets 5 1,579 5,997
34,563 101,749
CURRENT ASSETS
Stocks 6 198,208 217,324
Debtors 7 40,016 52,608
Cash at bank and in hand 29,553 133,770
267,777 403,702
Creditors: Amounts Falling Due Within One Year 8 (170,253 ) (253,296 )
NET CURRENT ASSETS (LIABILITIES) 97,524 150,406
TOTAL ASSETS LESS CURRENT LIABILITIES 132,087 252,155
PROVISIONS FOR LIABILITIES
Deferred Taxation - (2,687 )
NET ASSETS 132,087 249,468
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 131,987 249,368
SHAREHOLDERS' FUNDS 132,087 249,468
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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
Mrs Angela Strawbridge
Director
23rd September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Chateau Publishing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12032099 . The registered office is C/O Fruition Accountancy, Unit 4 Three Spires House, Station Road, Lichfield, WS13 6HX.
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 is computer software which is amortised to profit and loss account over its estimated economic life of 3 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 Straight line over three years
Computer Equipment Straight line over three years
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Corporation 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: 5 (2022: 6)
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4. Intangible Assets
Other
£
Cost
As at 1 January 2023 341,565
As at 31 December 2023 341,565
Amortisation
As at 1 January 2023 245,813
Provided during the period 62,768
As at 31 December 2023 308,581
Net Book Value
As at 31 December 2023 32,984
As at 1 January 2023 95,752
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5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 2,190 13,965 16,155
As at 31 December 2023 2,190 13,965 16,155
Depreciation
As at 1 January 2023 730 9,428 10,158
Provided during the period 730 3,688 4,418
As at 31 December 2023 1,460 13,116 14,576
Net Book Value
As at 31 December 2023 730 849 1,579
As at 1 January 2023 1,460 4,537 5,997
6. Stocks
2023 2022
£ £
Stock 198,208 217,324
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 19,265 21,412
Other debtors 20,751 31,196
40,016 52,608
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,724 48,261
Amounts owed to participating interests 108,072 95,116
Other creditors 45,700 101,178
Taxation and social security 3,757 8,741
170,253 253,296
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9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
10. Related Party Transactions
During the period ending 31 December 2023 the company purchased goods totalling £232,449 (2022: £364,724) from ESP Colour Limited, an associated company.
During the period ending 31 December 2023 the company sold goods totalling £22,404 (2022: 68,409) to ESP Colour Limited.
As at 31 December 2023 there was a balance due to ESP Colour Limited of £108,073 (2022: £95,117).
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