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 7979707 Miss Anne-Marie Sheridan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 7979707 2023-03-31 7979707 2024-03-31 7979707 2023-04-01 2024-03-31 7979707 frs-core:CurrentFinancialInstruments 2024-03-31 7979707 frs-core:Non-currentFinancialInstruments 2024-03-31 7979707 frs-core:ComputerEquipment 2024-03-31 7979707 frs-core:ComputerEquipment 2023-04-01 2024-03-31 7979707 frs-core:ComputerEquipment 2023-03-31 7979707 frs-core:FurnitureFittings 2024-03-31 7979707 frs-core:FurnitureFittings 2023-04-01 2024-03-31 7979707 frs-core:FurnitureFittings 2023-03-31 7979707 frs-core:NetGoodwill 2024-03-31 7979707 frs-core:NetGoodwill 2023-04-01 2024-03-31 7979707 frs-core:NetGoodwill 2023-03-31 7979707 frs-core:PlantMachinery 2024-03-31 7979707 frs-core:PlantMachinery 2023-04-01 2024-03-31 7979707 frs-core:PlantMachinery 2023-03-31 7979707 frs-core:ShareCapital 2024-03-31 7979707 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 7979707 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 7979707 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 7979707 frs-bus:SmallEntities 2023-04-01 2024-03-31 7979707 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 7979707 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 7979707 1 2023-04-01 2024-03-31 7979707 frs-bus:Director1 2023-04-01 2024-03-31 7979707 frs-bus:Director1 2023-03-31 7979707 frs-bus:Director1 2024-03-31 7979707 frs-countries:EnglandWales 2023-04-01 2024-03-31 7979707 2022-03-31 7979707 2023-03-31 7979707 2022-04-01 2023-03-31 7979707 frs-core:CurrentFinancialInstruments 2023-03-31 7979707 frs-core:Non-currentFinancialInstruments 2023-03-31 7979707 frs-core:ShareCapital 2023-03-31 7979707 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 7979707
Sheridan Bowles Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Graver & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 7979707
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 83,333 93,333
Tangible Assets 5 1,805 2,404
85,138 95,737
CURRENT ASSETS
Stocks 6 50,937 91,288
Debtors 7 29,323 35,175
Cash at bank and in hand 476,378 408,740
556,638 535,203
Creditors: Amounts Falling Due Within One Year 8 (47,208 ) (40,657 )
NET CURRENT ASSETS (LIABILITIES) 509,430 494,546
TOTAL ASSETS LESS CURRENT LIABILITIES 594,568 590,283
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (401 ) (401 )
NET ASSETS 594,167 589,882
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 594,067 589,782
SHAREHOLDERS' FUNDS 594,167 589,882
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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 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
Miss Anne-Marie Sheridan
Director
22nd August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sheridan Bowles Limited Registered number 7979707 is a limited by shares company incorporated in England & Wales. The Registered Office is 1 Crown Road, Great Yarmouth, Norfolk, NR30 2JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the revenue earned under a wide variety of contracts to provide legal services and advice to clients. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for it's performance under those contracts. Income includes recoverable expenses but excludes Value Added Tax. Unbilled revenue, work in progress, is included within stock.
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 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. 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.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 5
4 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 200,000
As at 31 March 2024 200,000
Amortisation
As at 1 April 2023 106,667
Provided during the period 10,000
As at 31 March 2024 116,667
Net Book Value
As at 31 March 2024 83,333
As at 1 April 2023 93,333
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 1,149 2,805 10,080 14,034
As at 31 March 2024 1,149 2,805 10,080 14,034
Depreciation
As at 1 April 2023 847 2,430 8,353 11,630
Provided during the period 75 93 431 599
As at 31 March 2024 922 2,523 8,784 12,229
Net Book Value
As at 31 March 2024 227 282 1,296 1,805
As at 1 April 2023 302 375 1,727 2,404
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6. Stocks
2024 2023
£ £
Work in progress 50,937 91,288
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,907 27,905
Prepayments and accrued income 1,504 4,025
25,411 31,930
Due after more than one year
Directors loan account 3,912 3,245
29,323 35,175
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,482 30,041
Corporation tax 14,726 10,616
47,208 40,657
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 401 401
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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11. Directors Advances, Credits and Guarantees
Included within creditorss are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Miss Anne-Marie Sheridan 3,246 56,809 56,100 - 3,955
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Miss Anne-Marie Sheridan 40,000 40,000
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 40,000 40,000
13. Ultimate Controlling Party
The company's ultimate controlling party is the director by virtue of her ownership of 100% of the issued share capital in the company.
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