Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 09181392 Danielle Clegg Stephen Clegg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09181392 2023-08-31 09181392 2024-08-31 09181392 2023-09-01 2024-08-31 09181392 frs-core:CurrentFinancialInstruments 2024-08-31 09181392 frs-core:ComputerEquipment 2024-08-31 09181392 frs-core:ComputerEquipment 2023-09-01 2024-08-31 09181392 frs-core:ComputerEquipment 2023-08-31 09181392 frs-core:MotorVehicles 2024-08-31 09181392 frs-core:MotorVehicles 2023-09-01 2024-08-31 09181392 frs-core:MotorVehicles 2023-08-31 09181392 frs-core:PlantMachinery 2024-08-31 09181392 frs-core:PlantMachinery 2023-09-01 2024-08-31 09181392 frs-core:PlantMachinery 2023-08-31 09181392 frs-core:ShareCapital 2024-08-31 09181392 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 09181392 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09181392 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 09181392 frs-bus:SmallEntities 2023-09-01 2024-08-31 09181392 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09181392 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09181392 frs-bus:Director1 2023-09-01 2024-08-31 09181392 frs-bus:Director2 2023-09-01 2024-08-31 09181392 frs-bus:Director2 2023-08-31 09181392 frs-bus:Director2 2024-08-31 09181392 frs-countries:EnglandWales 2023-09-01 2024-08-31 09181392 2022-08-31 09181392 2023-08-31 09181392 2022-09-01 2023-08-31 09181392 frs-core:CurrentFinancialInstruments 2023-08-31 09181392 frs-core:ShareCapital 2023-08-31 09181392 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 09181392 frs-core:CurrentFinancialInstruments 2 2023-08-31
Registered number: 09181392
FAB Soft Furnishing Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
TaxAssist Accountants
Chartered Accountants
714 London Road
Larkfield
KENT
ME20 6BL
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 09181392
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 53,998 56,539
Cash at bank and in hand 20,145 17,935
74,143 74,474
Creditors: Amounts Falling Due Within One Year 6 (70,383 ) (72,702 )
NET CURRENT ASSETS (LIABILITIES) 3,760 1,772
TOTAL ASSETS LESS CURRENT LIABILITIES 3,760 1,772
NET ASSETS 3,760 1,772
CAPITAL AND RESERVES
Called up share capital 7 100 100
Income Statement 3,660 1,672
SHAREHOLDERS' FUNDS 3,760 1,772
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Page 2
For the year ending 31 August 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 Income Statement.
On behalf of the board
Danielle Clegg
Director
04/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
FAB Soft Furnishing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09181392 . The registered office is 68 Bell Lane, Ditton, Aylesford, Kent, ME20 6BU.
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 25% straight line
Motor Vehicles 25% straight line
Computer Equipment 25% straight line
2.4. 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 year 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.
...CONTINUED
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2.4. Taxation - continued
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.
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 asset reflects 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: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 2,275 20,648 849 23,772
As at 31 August 2024 2,275 20,648 849 23,772
Depreciation
As at 1 September 2023 2,275 20,648 849 23,772
As at 31 August 2024 2,275 20,648 849 23,772
Net Book Value
As at 31 August 2024 - - - -
As at 1 September 2023 - - - -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,363 5,543
Corporation tax recoverable assets 3,894 3,894
Directors' loan accounts 44,741 47,102
53,998 56,539
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 40,592 45,991
Other loans 3,111 -
Corporation tax 16,526 13,924
Other taxes and social security 547 1,584
VAT 8,849 9,225
Hire purchase loan - current - 1,256
Accruals and deferred income 758 722
70,383 72,702
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Stephen Clegg 47,102 - 2,362 - 44,741
The above loan is unsecured and repayable on demand. HMRC official rate of interest charged.
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