Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05836080 Mr Adrian Dunsford Candice White iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05836080 2023-01-31 05836080 2024-01-31 05836080 2023-02-01 2024-01-31 05836080 frs-core:CurrentFinancialInstruments 2024-01-31 05836080 frs-core:BetweenOneFiveYears 2024-01-31 05836080 frs-core:ComputerEquipment 2024-01-31 05836080 frs-core:ComputerEquipment 2023-02-01 2024-01-31 05836080 frs-core:ComputerEquipment 2023-01-31 05836080 frs-core:FurnitureFittings 2024-01-31 05836080 frs-core:FurnitureFittings 2023-02-01 2024-01-31 05836080 frs-core:FurnitureFittings 2023-01-31 05836080 frs-core:NetGoodwill 2024-01-31 05836080 frs-core:NetGoodwill 2023-02-01 2024-01-31 05836080 frs-core:NetGoodwill 2023-01-31 05836080 frs-core:MotorVehicles 2024-01-31 05836080 frs-core:MotorVehicles 2023-02-01 2024-01-31 05836080 frs-core:MotorVehicles 2023-01-31 05836080 frs-core:WithinOneYear 2024-01-31 05836080 frs-core:ShareCapital 2024-01-31 05836080 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05836080 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05836080 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05836080 frs-bus:SmallEntities 2023-02-01 2024-01-31 05836080 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05836080 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05836080 frs-core:DeferredTaxation 2023-02-01 2024-01-31 05836080 frs-core:DeferredTaxation 2023-01-31 05836080 frs-core:DeferredTaxation 2024-01-31 05836080 frs-bus:Director1 2023-02-01 2024-01-31 05836080 frs-bus:Director2 2023-02-01 2024-01-31 05836080 frs-countries:EnglandWales 2023-02-01 2024-01-31 05836080 2022-01-31 05836080 2023-01-31 05836080 2022-02-01 2023-01-31 05836080 frs-core:CurrentFinancialInstruments 2023-01-31 05836080 frs-core:BetweenOneFiveYears 2023-01-31 05836080 frs-core:WithinOneYear 2023-01-31 05836080 frs-core:ShareCapital 2023-01-31 05836080 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 05836080
Browns Dry Cleaners Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
DEB Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05836080
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 22,250 31,150
Tangible Assets 5 6,451 6,519
28,701 37,669
CURRENT ASSETS
Stocks 2,294 2,237
Debtors 6 2,504 3,770
Cash at bank and in hand 48,907 50,991
53,705 56,998
Creditors: Amounts Falling Due Within One Year 7 (18,425 ) (50,534 )
NET CURRENT ASSETS (LIABILITIES) 35,280 6,464
TOTAL ASSETS LESS CURRENT LIABILITIES 63,981 44,133
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,226 ) (1,239 )
NET ASSETS 62,755 42,894
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 62,754 42,893
SHAREHOLDERS' FUNDS 62,755 42,894
Page 1
Page 2
For the year ending 31 January 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 Adrian Dunsford
Director
14/10/2024
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
Browns Dry Cleaners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05836080 . The registered office is 20 Selbourne Close, Barugh Green, Barnsley, South Yorkshire, S75 1NA.
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 20 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:
Motor Vehicles 25 % Reducing Balance
Fixtures & Fittings 25 % Reducing Balance
Office 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
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 178,000
As at 31 January 2024 178,000
Amortisation
As at 1 February 2023 146,850
Provided during the period 8,900
As at 31 January 2024 155,750
Net Book Value
As at 31 January 2024 22,250
As at 1 February 2023 31,150
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 February 2023 9,080 54,318 - 63,398
Additions - - 2,082 2,082
As at 31 January 2024 9,080 54,318 2,082 65,480
Depreciation
As at 1 February 2023 7,869 49,010 - 56,879
Provided during the period 303 1,327 520 2,150
As at 31 January 2024 8,172 50,337 520 59,029
Net Book Value
As at 31 January 2024 908 3,981 1,562 6,451
As at 1 February 2023 1,211 5,308 - 6,519
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,191 2,144
Prepayments and accrued income 313 1,626
2,504 3,770
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 102 -
Corporation tax 6,775 8,984
V A T 3,119 4,000
Wages - 732
Accruals and deferred income 83 125
Directors' loan accounts 8,346 36,693
18,425 50,534
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,226 1,239
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 1,239 1,239
Reversals (13 ) (13)
Balance at 31 January 2024 1,226 1,226
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5
Page 6
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 13,000 13,000
Later than one year and not later than five years 8,667 21,667
21,667 34,667
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Adrian Dunsford - 6,000
13. Related Party Transactions
The company is controlled by Mr A Dunsford, directors and shareholder of the company.
The balance on the director's loan account of Mr A Dunsford at 31st January 2024 was £8,346 (2023 - £36,693) due from the company.
Page 6