Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 11062711 Mr Christopher Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11062711 2022-11-30 11062711 2023-11-30 11062711 2022-12-01 2023-11-30 11062711 frs-core:CurrentFinancialInstruments 2023-11-30 11062711 frs-core:Non-currentFinancialInstruments 2023-11-30 11062711 frs-core:ComputerEquipment 2023-11-30 11062711 frs-core:ComputerEquipment 2022-12-01 2023-11-30 11062711 frs-core:ComputerEquipment 2022-11-30 11062711 frs-core:NetGoodwill 2023-11-30 11062711 frs-core:NetGoodwill 2022-12-01 2023-11-30 11062711 frs-core:NetGoodwill 2022-11-30 11062711 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 11062711 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11062711 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 11062711 frs-core:PlantMachinery 2023-11-30 11062711 frs-core:PlantMachinery 2022-12-01 2023-11-30 11062711 frs-core:PlantMachinery 2022-11-30 11062711 frs-core:ShareCapital 2023-11-30 11062711 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 11062711 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11062711 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 11062711 frs-bus:SmallEntities 2022-12-01 2023-11-30 11062711 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11062711 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11062711 frs-bus:Director1 2022-12-01 2023-11-30 11062711 frs-countries:EnglandWales 2022-12-01 2023-11-30 11062711 2021-11-30 11062711 2022-11-30 11062711 2021-12-01 2022-11-30 11062711 frs-core:CurrentFinancialInstruments 2022-11-30 11062711 frs-core:Non-currentFinancialInstruments 2022-11-30 11062711 frs-core:ShareCapital 2022-11-30 11062711 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Spaldylou Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11062711
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 27,500 27,500
Tangible Assets 5 455,814 473,616
483,314 501,116
CURRENT ASSETS
Stocks 6 12,074 11,883
Debtors 7 199 -
Cash at bank and in hand 26,580 16,116
38,853 27,999
Creditors: Amounts Falling Due Within One Year 8 (757,972 ) (506,254 )
NET CURRENT ASSETS (LIABILITIES) (719,119 ) (478,255 )
TOTAL ASSETS LESS CURRENT LIABILITIES (235,805 ) 22,861
Creditors: Amounts Falling Due After More Than One Year 9 - (275,884 )
NET LIABILITIES (235,805 ) (253,023 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (235,905 ) (253,123 )
SHAREHOLDERS' FUNDS (235,805) (253,023)
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For the year ending 30 November 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 Christopher Morgan
Director
25 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
Spaldylou Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11062711 . The registered office is 46 Chapel Street, Penzance, Kernow, TR18 4AF.
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. Going Concern Disclosure
The company has net liabilities and continues to rely on the support of its director.
The COVID-19 pandemic continued to impact the business into this financial year, although improvements were shown in the second half of the year. The director believes that the financial statements should continue to be prepared on a going concern basis.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Freehold 2% on cost
Plant & Machinery 15% reducing balance
Computer Equipment 25% on cost
2.6. 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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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 7)
11 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 55,000
As at 30 November 2023 55,000
Amortisation
As at 1 December 2022 27,500
As at 30 November 2023 27,500
Net Book Value
As at 30 November 2023 27,500
As at 1 December 2022 27,500
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 417,097 158,674 658 576,429
Additions - 2,231 297 2,528
As at 30 November 2023 417,097 160,905 955 578,957
Depreciation
As at 1 December 2022 19,905 82,579 329 102,813
Provided during the period 8,342 11,749 239 20,330
As at 30 November 2023 28,247 94,328 568 123,143
Net Book Value
As at 30 November 2023 388,850 66,577 387 455,814
As at 1 December 2022 397,192 76,095 329 473,616
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6. Stocks
2023 2022
£ £
Stock 12,074 -
Finished goods - 11,883
12,074 11,883
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 199 -
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,469 6,373
Bank loans and overdrafts 280,355 15,526
Other loans - 5,556
Other taxes and social security 3,035 2,161
VAT 15,017 11,156
Other creditors 95 94
Accruals and deferred income 950 950
Director's loan account 455,051 464,438
757,972 506,254
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 239,461
Other loans - 36,423
- 275,884
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Fixed charges
On 7 January 2018 NatWest Bank plc registered a charge at Companies House. The charge contains a fixed charge and a floating charge which covers all the property or undertaking of the company and contains a negative pledge.
On 12 February 2018 NatWest Bank plc registered a charge at Companies House. The charge contains a fixed charge over the freehold property and contains a negative pledge.
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