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 04568905 Mr Michael Hough Ms Chloe French Mr Michael Hough iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04568905 2022-12-31 04568905 2023-12-31 04568905 2023-01-01 2023-12-31 04568905 frs-core:CurrentFinancialInstruments 2023-12-31 04568905 frs-core:Non-currentFinancialInstruments 2023-12-31 04568905 frs-core:ShareCapital 2023-12-31 04568905 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04568905 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04568905 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04568905 frs-bus:SmallEntities 2023-01-01 2023-12-31 04568905 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04568905 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04568905 frs-bus:Director1 2023-01-01 2023-12-31 04568905 frs-bus:Director2 2023-01-01 2023-12-31 04568905 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04568905 frs-countries:EnglandWales 2023-01-01 2023-12-31 04568905 2021-12-31 04568905 2022-12-31 04568905 2022-01-01 2022-12-31 04568905 frs-core:CurrentFinancialInstruments 2022-12-31 04568905 frs-core:Non-currentFinancialInstruments 2022-12-31 04568905 frs-core:ShareCapital 2022-12-31 04568905 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04568905
Helford Atlantic Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Bookkkeping and More
1 Woodland Avenue
Penryn
Cornwall
TR10 8PF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04568905
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 1,124,507 362,600
Debtors 5 19,249 4,249
Cash at bank and in hand 78,576 493,880
1,222,332 860,729
Creditors: Amounts Falling Due Within One Year 6 (499,974 ) (736,102 )
NET CURRENT ASSETS (LIABILITIES) 722,358 124,627
TOTAL ASSETS LESS CURRENT LIABILITIES 722,358 124,627
Creditors: Amounts Falling Due After More Than One Year 7 (1,156,918 ) (534,000 )
NET LIABILITIES (434,560 ) (409,373 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (434,660 ) (409,473 )
SHAREHOLDERS' FUNDS (434,560) (409,373)
Page 1
Page 2
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
Ms Chloe French
Director
20/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Helford Atlantic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04568905 . The registered office is Unit 1 Dudnance Lane, Pool, Redruth, Cornwall, TR15 3QT.
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. 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.
2.3. 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: NIL (2022: NIL)
- -
4. Stocks
2023 2022
£ £
Stock 1,124,507 362,600
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 19,249 4,249
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Page 4
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,878
Accruals and deferred income 1,700 950
Directors' loan accounts 252,992 252,992
Shareholder Loans 245,282 480,282
499,974 736,102
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,156,918 534,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4