Acorah Software Products - Accounts Production 15.0.600 false true false 7 December 2022 31 March 2024 31 March 2024 14527003 Mrs C Keen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14527003 2022-12-06 14527003 2024-03-31 14527003 2022-12-07 2024-03-31 14527003 frs-core:CurrentFinancialInstruments 2024-03-31 14527003 frs-core:Non-currentFinancialInstruments 2024-03-31 14527003 frs-core:BetweenOneFiveYears 2024-03-31 14527003 frs-core:PlantMachinery 2024-03-31 14527003 frs-core:PlantMachinery 2022-12-07 2024-03-31 14527003 frs-core:PlantMachinery 2022-12-06 14527003 frs-core:WithinOneYear 2024-03-31 14527003 frs-core:ShareCapital 2024-03-31 14527003 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14527003 frs-bus:PrivateLimitedCompanyLtd 2022-12-07 2024-03-31 14527003 frs-bus:FilletedAccounts 2022-12-07 2024-03-31 14527003 frs-bus:SmallEntities 2022-12-07 2024-03-31 14527003 frs-bus:AuditExempt-NoAccountantsReport 2022-12-07 2024-03-31 14527003 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-07 2024-03-31 14527003 frs-bus:Director1 2022-12-07 2024-03-31 14527003 frs-countries:EnglandWales 2022-12-07 2024-03-31
Registered number: 14527003
14 & Sixpence Ltd
Unaudited Financial Statements
For the Period 7 December 2022 to 31 March 2024
Cooper Associates Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14527003
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 231
231
CURRENT ASSETS
Stocks 5 48,743
Debtors 6 14,609
Cash at bank and in hand 2,499
65,851
Creditors: Amounts Falling Due Within One Year 7 (88,066 )
NET CURRENT ASSETS (LIABILITIES) (22,215 )
TOTAL ASSETS LESS CURRENT LIABILITIES (21,984 )
Creditors: Amounts Falling Due After More Than One Year 8 (5,000 )
NET LIABILITIES (26,984 )
CAPITAL AND RESERVES
Called up share capital 9 100
Profit and Loss Account (27,084 )
SHAREHOLDERS' FUNDS (26,984)
Page 1
Page 2
For the period 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs C Keen
Director
9th October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
14 & Sixpence Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14527003 . The registered office is Mulberry, Ashwell Business Park, Ilminster, Somerset, TA19 9DX.
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% 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.
Page 3
Page 4
2.5. Financial Instruments
The company holds the following financial instruments:
  • Short term trade and other debtors and creditors;
  • Bank loans; and
  • Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecgonised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 7 December 2022 -
Additions 289
As at 31 March 2024 289
Depreciation
As at 7 December 2022 -
Provided during the period 58
As at 31 March 2024 58
Net Book Value
As at 31 March 2024 231
As at 7 December 2022 -
Page 4
Page 5
5. Stocks
31 March 2024
£
Stock 48,743
6. Debtors
31 March 2024
£
Due within one year
Trade debtors 9,879
Other debtors 4,730
14,609
7. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Trade creditors 14,488
Bank loans and overdrafts 30,017
Other creditors 43,374
Taxation and social security 187
88,066
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 5,000
9. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 100
Page 5
Page 6
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2024
£
Not later than one year 18,000
Later than one year and not later than five years 36,000
54,000
Page 6