Acorah Software Products - Accounts Production 15.0.400 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05337284 Mr Kenneth BAKER Mr Wayne Hutton Mr Michael Munns Mr Wayne Hutton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05337284 2023-01-31 05337284 2024-01-31 05337284 2023-02-01 2024-01-31 05337284 frs-core:CurrentFinancialInstruments 2024-01-31 05337284 frs-core:Non-currentFinancialInstruments 2024-01-31 05337284 frs-core:FurnitureFittings 2024-01-31 05337284 frs-core:FurnitureFittings 2023-02-01 2024-01-31 05337284 frs-core:FurnitureFittings 2023-01-31 05337284 frs-core:NetGoodwill 2024-01-31 05337284 frs-core:NetGoodwill 2023-02-01 2024-01-31 05337284 frs-core:NetGoodwill 2023-01-31 05337284 frs-core:MotorVehicles 2024-01-31 05337284 frs-core:MotorVehicles 2023-02-01 2024-01-31 05337284 frs-core:MotorVehicles 2023-01-31 05337284 frs-core:PlantMachinery 2024-01-31 05337284 frs-core:PlantMachinery 2023-02-01 2024-01-31 05337284 frs-core:PlantMachinery 2023-01-31 05337284 frs-core:SharePremium 2024-01-31 05337284 frs-core:ShareCapital 2024-01-31 05337284 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05337284 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05337284 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05337284 frs-bus:SmallEntities 2023-02-01 2024-01-31 05337284 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05337284 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05337284 frs-bus:Director1 2023-02-01 2024-01-31 05337284 frs-bus:Director2 2023-02-01 2024-01-31 05337284 frs-bus:Director3 2023-02-01 2024-01-31 05337284 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 05337284 frs-countries:EnglandWales 2023-02-01 2024-01-31 05337284 2022-01-31 05337284 2023-01-31 05337284 2022-02-01 2023-01-31 05337284 frs-core:CurrentFinancialInstruments 2023-01-31 05337284 frs-core:Non-currentFinancialInstruments 2023-01-31 05337284 frs-core:SharePremium 2023-01-31 05337284 frs-core:ShareCapital 2023-01-31 05337284 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 05337284
The Hot Wire Co. Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
TaxAssist Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05337284
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,213 16,413
Tangible Assets 5 8,244 10,844
19,457 27,257
CURRENT ASSETS
Stocks 6 29,063 16,995
Debtors 7 125,267 77,876
Cash at bank and in hand 22,902 84,931
177,232 179,802
Creditors: Amounts Falling Due Within One Year 8 (91,202 ) (100,031 )
NET CURRENT ASSETS (LIABILITIES) 86,030 79,771
TOTAL ASSETS LESS CURRENT LIABILITIES 105,487 107,028
Creditors: Amounts Falling Due After More Than One Year 9 (22,492 ) (33,140 )
NET ASSETS 82,995 73,888
CAPITAL AND RESERVES
Called up share capital 10 2,074 2,074
Share premium account 6,251 6,251
Profit and Loss Account 74,670 65,563
SHAREHOLDERS' FUNDS 82,995 73,888
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 Wayne Hutton
Director
10/10/2024
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
The Hot Wire Co. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05337284 . The registered office is Unit 6a Challenger Way, Peterborough, PE1 5EX.
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 .... 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:
Plant & Machinery 25
Motor Vehicles 25
Fixtures & Fittings 25
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 87,352
As at 31 January 2024 87,352
Amortisation
As at 1 February 2023 70,939
Provided during the period 5,200
As at 31 January 2024 76,139
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 January 2024 11,213
As at 1 February 2023 16,413
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 97,437 21,433 43,735 162,605
As at 31 January 2024 97,437 21,433 43,735 162,605
Depreciation
As at 1 February 2023 97,437 10,589 43,735 151,761
Provided during the period - 2,600 - 2,600
As at 31 January 2024 97,437 13,189 43,735 154,361
Net Book Value
As at 31 January 2024 - 8,244 - 8,244
As at 1 February 2023 - 10,844 - 10,844
6. Stocks
2024 2023
£ £
Finished goods 29,063 16,995
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 123,467 76,076
Other debtors 1,800 1,800
125,267 77,876
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,281 8,138
Bank loans and overdrafts 4,057 4,145
VAT 41,513 39,829
Other creditors 35,031 40,599
Directors' loan accounts 7,320 7,320
91,202 100,031
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,492 33,140
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,074 2,074
Page 5