Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09427372 Mr Andrew Moore Mrs Catherine Moore iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09427372 2023-03-31 09427372 2024-03-31 09427372 2023-04-01 2024-03-31 09427372 frs-core:CurrentFinancialInstruments 2024-03-31 09427372 frs-core:Non-currentFinancialInstruments 2024-03-31 09427372 frs-core:FurnitureFittings 2024-03-31 09427372 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09427372 frs-core:FurnitureFittings 2023-03-31 09427372 frs-core:ShareCapital 2024-03-31 09427372 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09427372 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09427372 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09427372 frs-bus:SmallEntities 2023-04-01 2024-03-31 09427372 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09427372 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09427372 frs-bus:Director1 2023-04-01 2024-03-31 09427372 frs-bus:Director1 2023-03-31 09427372 frs-bus:Director1 2024-03-31 09427372 frs-bus:Director2 2023-04-01 2024-03-31 09427372 frs-core:CurrentFinancialInstruments 1 2024-03-31 09427372 frs-countries:EnglandWales 2023-04-01 2024-03-31 09427372 2022-03-31 09427372 2023-03-31 09427372 2022-04-01 2023-03-31 09427372 frs-core:CurrentFinancialInstruments 2023-03-31 09427372 frs-core:Non-currentFinancialInstruments 2023-03-31 09427372 frs-core:ShareCapital 2023-03-31 09427372 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09427372 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 09427372
UKSol Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
635 Bath Road
Slough
Berkshire
SL1 6AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09427372
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,596 1,385
5,596 1,385
CURRENT ASSETS
Stocks 5 711,287 -
Debtors 6 396,515 386,982
Cash at bank and in hand 59,188 42,475
1,166,990 429,457
Creditors: Amounts Falling Due Within One Year 7 (882,359 ) (369,795 )
NET CURRENT ASSETS (LIABILITIES) 284,631 59,662
TOTAL ASSETS LESS CURRENT LIABILITIES 290,227 61,047
Creditors: Amounts Falling Due After More Than One Year 8 (261,667 ) (277,927 )
NET ASSETS/(LIABILITIES) 28,560 (216,880 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 28,558 (216,882 )
SHAREHOLDERS' FUNDS 28,560 (216,880)
Page 1
Page 2
For the year ending 31 March 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 Andrew Moore
Director
4th October 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
UKSol Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09427372 . The registered office is Building 1 Chalfont Park Chalfont St. Peter, Gerrards Cross, SL9 0BG.
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:
Fixtures & Fittings 33.33% straight line
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. 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
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 6,124
Additions 7,423
As at 31 March 2024 13,547
Depreciation
As at 1 April 2023 4,739
Provided during the period 3,212
As at 31 March 2024 7,951
Net Book Value
As at 31 March 2024 5,596
As at 1 April 2023 1,385
5. Stocks
2024 2023
£ £
Work in progress 711,287 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 78,997 132,206
Directors' loan accounts 239,322 183,163
318,319 315,369
Due after more than one year
Corporation tax recoverable assets 75,645 58,062
Amounts owed by related parties 2,551 13,551
78,196 71,613
396,515 386,982
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 435,568 102,028
Bank loans and overdrafts 10,000 50,106
Corporation tax 89,637 36,484
VAT 157,559 164,072
Other creditors 4,592 17,105
Other creditors (1) 183,859 -
Accruals and deferred income 1,144 -
882,359 369,795
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 261,667 277,927
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Andrew Moore 183,163 120,069 63,910 - 239,322
The above loan is unsecured and repayable on demand. Interest is charged at 3.5%.
11. Post Balance Sheet Events
Subsequent to the year end, the long term debt of the business was repaid other than the low interest bounce back loan which it was decided should remain given the favourible interest rate and terms. As at the 30th of June 2024, the balance of long term debt had reduced by £252,500 to £9,167.
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