Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3114The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-01No description of principal activity14falsetruefalse 08417386 2023-04-01 2024-03-31 08417386 2022-04-01 2023-03-31 08417386 2024-03-31 08417386 2023-03-31 08417386 c:Director2 2023-04-01 2024-03-31 08417386 d:Buildings 2023-04-01 2024-03-31 08417386 d:Buildings 2024-03-31 08417386 d:Buildings 2023-03-31 08417386 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08417386 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 08417386 d:Buildings d:LongLeaseholdAssets 2024-03-31 08417386 d:Buildings d:LongLeaseholdAssets 2023-03-31 08417386 d:PlantMachinery 2023-04-01 2024-03-31 08417386 d:PlantMachinery 2024-03-31 08417386 d:PlantMachinery 2023-03-31 08417386 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08417386 d:MotorVehicles 2023-04-01 2024-03-31 08417386 d:MotorVehicles 2024-03-31 08417386 d:MotorVehicles 2023-03-31 08417386 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08417386 d:ComputerEquipment 2023-04-01 2024-03-31 08417386 d:ComputerEquipment 2024-03-31 08417386 d:ComputerEquipment 2023-03-31 08417386 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08417386 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08417386 d:Goodwill 2024-03-31 08417386 d:Goodwill 2023-03-31 08417386 d:CurrentFinancialInstruments 2024-03-31 08417386 d:CurrentFinancialInstruments 2023-03-31 08417386 d:Non-currentFinancialInstruments 2024-03-31 08417386 d:Non-currentFinancialInstruments 2023-03-31 08417386 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08417386 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08417386 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08417386 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08417386 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 08417386 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08417386 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08417386 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08417386 d:ShareCapital 2024-03-31 08417386 d:ShareCapital 2023-03-31 08417386 d:RetainedEarningsAccumulatedLosses 2024-03-31 08417386 d:RetainedEarningsAccumulatedLosses 2023-03-31 08417386 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08417386 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08417386 d:OtherDeferredTax 2024-03-31 08417386 d:OtherDeferredTax 2023-03-31 08417386 c:FRS102 2023-04-01 2024-03-31 08417386 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08417386 c:FullAccounts 2023-04-01 2024-03-31 08417386 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08417386 2 2023-04-01 2024-03-31 08417386 5 2023-04-01 2024-03-31 08417386 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08417386


ACA RETAIL LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




















img095f.png

 
ACA RETAIL LIMITED
REGISTERED NUMBER:08417386

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
309,859
326,868

  
309,859
326,868

Current assets
  

Stocks
  
266,698
163,250

Debtors: amounts falling due within one year
 6 
14,745
14,907

Cash at bank and in hand
  
104,029
92,182

  
385,472
270,339

Creditors: amounts falling due within one year
 7 
(223,404)
(201,584)

Net current assets
  
 
 
162,068
 
 
68,755

Total assets less current liabilities
  
471,927
395,623

Creditors: amounts falling due after more than one year
 8 
(13,333)
(23,333)

Provisions for liabilities
  

Deferred tax
 10 
(28,517)
(31,895)

  
 
 
(28,517)
 
 
(31,895)

Net assets
  
430,077
340,395


Capital and reserves
  

Called up share capital 
  
300
300

Profit and loss account
  
429,777
340,095

  
430,077
340,395


Page 1

 
ACA RETAIL LIMITED
REGISTERED NUMBER:08417386
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




J Abbott
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

ACA Retail Limited is a private company limited by shares, domiciled in England and Wales. The registered office address is Orchard Corner Toadpit Lane, West Hill, Ottery St. Mary, England, EX11 1TR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
straight line
Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
reducing balance
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 14).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
135,000



At 31 March 2024

135,000



Amortisation


At 1 April 2023
135,000



At 31 March 2024

135,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 8

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Freehold property
Leasehold improvements
Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
280,000
34,971
21,900
24,283
22,430
383,584


Additions
-
-
7,623
19,862
1,207
28,692


Revaluations
(32,000)
-
-
-
-
(32,000)



At 31 March 2024

248,000
34,971
29,523
44,145
23,637
380,276



Depreciation


At 1 April 2023
-
16,806
14,040
6,071
19,799
56,716


Charge for the year on owned assets
-
3,497
3,574
4,553
2,077
13,701



At 31 March 2024

-
20,303
17,614
10,624
21,876
70,417



Net book value



At 31 March 2024
248,000
14,668
11,909
33,521
1,761
309,859



At 31 March 2023
280,000
18,165
7,860
18,212
2,631
326,868


6.


Debtors

2024
2023
£
£


Trade debtors
12,922
14,171

Other debtors
1,823
736

14,745
14,907


Page 9

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
76,387
91,029

Corporation tax
58,395
26,883

Other taxation and social security
1,850
2,125

Other creditors
74,908
69,772

Accruals and deferred income
1,864
1,775

223,404
201,584



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,333
23,333

13,333
23,333


Page 10

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
3,333
13,333


3,333
13,333


23,333
33,333



10.


Deferred taxation




2024


£






At beginning of year
(31,895)


Charged to profit or loss
3,378



At end of year
(28,517)

2024
2023
£
£


Accelerated capital allowances
(11,798)
(7,176)

Gain on revaluation
(16,719)
(24,719)

(28,517)
(31,895)

Page 11

 
ACA RETAIL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payables by the Company to the fund and amounted to £2,242 (2023- £1,806). Contribributions totalling £368 (2023- £369) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 12