Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 NI013134 Mr Stephen McCann iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI013134 2022-12-31 NI013134 2023-12-31 NI013134 2023-01-01 2023-12-31 NI013134 frs-core:CurrentFinancialInstruments 2023-12-31 NI013134 frs-core:FurnitureFittings 2023-12-31 NI013134 frs-core:FurnitureFittings 2023-01-01 2023-12-31 NI013134 frs-core:FurnitureFittings 2022-12-31 NI013134 frs-core:MotorVehicles 2023-12-31 NI013134 frs-core:MotorVehicles 2023-01-01 2023-12-31 NI013134 frs-core:MotorVehicles 2022-12-31 NI013134 frs-core:PlantMachinery 2023-12-31 NI013134 frs-core:PlantMachinery 2023-01-01 2023-12-31 NI013134 frs-core:PlantMachinery 2022-12-31 NI013134 frs-core:ShareCapital 2023-12-31 NI013134 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI013134 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI013134 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 NI013134 frs-bus:SmallEntities 2023-01-01 2023-12-31 NI013134 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI013134 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI013134 frs-bus:Director1 2023-01-01 2023-12-31 NI013134 frs-countries:NorthernIreland 2023-01-01 2023-12-31 NI013134 2021-12-31 NI013134 2022-12-31 NI013134 2022-01-01 2022-12-31 NI013134 frs-core:CurrentFinancialInstruments 2022-12-31 NI013134 frs-core:ShareCapital 2022-12-31 NI013134 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: NI013134
Clarehill Developments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI013134
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,202 250
1,202 250
CURRENT ASSETS
Stocks 5 295,256 295,256
Debtors 6 1,696 2,639
Cash at bank and in hand 5,064 7,355
302,016 305,250
Creditors: Amounts Falling Due Within One Year 7 (711,523 ) (723,275 )
NET CURRENT ASSETS (LIABILITIES) (409,507 ) (418,025 )
TOTAL ASSETS LESS CURRENT LIABILITIES (408,305 ) (417,775 )
NET LIABILITIES (408,305 ) (417,775 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (408,405 ) (417,875 )
SHAREHOLDERS' FUNDS (408,305) (417,775)
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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
Mr Stephen McCann
Director
25/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Clarehill Developments Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI013134 . The registered office is 115 Downshire Road, Holywood, BT18 9LY.
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:
Plant & Machinery 20% on wdv
Motor Vehicles 25% on wdv
Fixtures & Fittings 20% on wdv
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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 24,344 16,990 3,271 44,605
Additions 1,500 - - 1,500
As at 31 December 2023 25,844 16,990 3,271 46,105
Depreciation
As at 1 January 2023 24,344 16,989 3,022 44,355
Provided during the period 300 - 248 548
As at 31 December 2023 24,644 16,989 3,270 44,903
Net Book Value
As at 31 December 2023 1,200 1 1 1,202
As at 1 January 2023 - 1 249 250
5. Stocks
2023 2022
£ £
Work in progress 295,256 295,256
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,696 2,639
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 410,258 409,448
Corporation tax 1,763 33
Other taxes and social security 2,168 2,168
VAT 747 952
Accruals and deferred income 1,167 1,206
Directors' loan accounts 295,420 309,468
711,523 723,275
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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