Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 02781163 Mr Mark Orchard Mr Michael Woodward Mrs Claire Beddow Mrs Marisa Tanner Mrs Veronica Woodward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02781163 2023-04-30 02781163 2024-04-30 02781163 2023-05-01 2024-04-30 02781163 frs-core:CurrentFinancialInstruments 2024-04-30 02781163 frs-core:FurnitureFittings 2024-04-30 02781163 frs-core:FurnitureFittings 2023-05-01 2024-04-30 02781163 frs-core:FurnitureFittings 2023-04-30 02781163 frs-core:NetGoodwill 2024-04-30 02781163 frs-core:NetGoodwill 2023-05-01 2024-04-30 02781163 frs-core:NetGoodwill 2023-04-30 02781163 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 02781163 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02781163 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 02781163 frs-core:MotorVehicles 2023-05-01 2024-04-30 02781163 frs-core:PlantMachinery 2024-04-30 02781163 frs-core:PlantMachinery 2023-05-01 2024-04-30 02781163 frs-core:PlantMachinery 2023-04-30 02781163 frs-core:CapitalRedemptionReserve 2024-04-30 02781163 frs-core:SharePremium 2024-04-30 02781163 frs-core:ShareCapital 2024-04-30 02781163 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 02781163 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02781163 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 02781163 frs-bus:SmallEntities 2023-05-01 2024-04-30 02781163 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02781163 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02781163 frs-core:CostValuation 2023-04-30 02781163 frs-core:CostValuation 2024-04-30 02781163 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 02781163 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 02781163 frs-bus:Director1 2023-05-01 2024-04-30 02781163 frs-bus:Director2 2023-05-01 2024-04-30 02781163 frs-bus:Director3 2023-05-01 2024-04-30 02781163 frs-bus:Director4 2023-05-01 2024-04-30 02781163 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 02781163 frs-countries:EnglandWales 2023-05-01 2024-04-30 02781163 2022-04-30 02781163 2023-04-30 02781163 2022-05-01 2023-04-30 02781163 frs-core:CurrentFinancialInstruments 2023-04-30 02781163 frs-core:CapitalRedemptionReserve 2023-04-30 02781163 frs-core:SharePremium 2023-04-30 02781163 frs-core:ShareCapital 2023-04-30 02781163 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 02781163
Finewood Marketing (U.K.) Ltd.
Unaudited Financial Statements
For The Year Ended 30 April 2024
Time Accounts Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02781163
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 8,888 10,709
Investments 6 100 100
8,988 10,809
CURRENT ASSETS
Debtors 7 1,232,658 1,185,777
Cash at bank and in hand 337,769 265,547
1,570,427 1,451,324
Creditors: Amounts Falling Due Within One Year 8 (579,349 ) (506,713 )
NET CURRENT ASSETS (LIABILITIES) 991,078 944,611
TOTAL ASSETS LESS CURRENT LIABILITIES 1,000,066 955,420
NET ASSETS 1,000,066 955,420
CAPITAL AND RESERVES
Called up share capital 9 89,830 89,830
Share premium account 5,544 5,544
Capital redemption reserve 21,243 21,243
Profit and Loss Account 883,449 838,803
SHAREHOLDERS' FUNDS 1,000,066 955,420
Page 1
Page 2
For the year ending 30 April 2024 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 Michael Woodward
Director
03/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Finewood Marketing (U.K.) Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 02781163 . The registered office is Basepoint Business Centre, C/o Time Accounts , Little High Street , Shoreham-by-sea, West Sussex, BN43 5EG.
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 - 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 15 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:
Leasehold 33% on cost
Plant & Machinery 25% on cost
Motor Vehicles 33.3% on cost
Fixtures & Fittings 15% on cost
2.5. 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.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 11)
13 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 105,175
As at 30 April 2024 105,175
Amortisation
As at 1 May 2023 105,175
As at 30 April 2024 105,175
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 1,237 10,547 70,349 82,133
Additions - - 681 681
Disposals - - (49,003 ) (49,003 )
As at 30 April 2024 1,237 10,547 22,027 33,811
Depreciation
As at 1 May 2023 1,237 10,547 59,640 71,424
Provided during the period - - 2,502 2,502
Disposals - - (49,003 ) (49,003 )
As at 30 April 2024 1,237 10,547 13,139 24,923
Net Book Value
As at 30 April 2024 - - 8,888 8,888
As at 1 May 2023 - - 10,709 10,709
Page 4
Page 5
6. Investments
Other
£
Cost
As at 1 May 2023 100
As at 30 April 2024 100
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 100
As at 1 May 2023 100
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 888,851 513,452
Prepayments and accrued income 1,191 1,972
Other debtors 2,588 2,588
VAT 12,261 10,091
Amounts owed by group undertakings 327,767 657,674
1,232,658 1,185,777
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 360,796 267,635
Corporation tax 35,457 27,281
Other taxes and social security 4,663 7,949
Other creditors- shareholder dividend 44,318 62,783
Accruals and deferred income 118,433 118,848
Directors' loan accounts 15,682 22,217
579,349 506,713
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 89,830 89,830
Page 5