Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07526238 Mr Tony King Miss Nicola Saysell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07526238 2023-02-28 07526238 2024-02-29 07526238 2023-03-01 2024-02-29 07526238 frs-core:CurrentFinancialInstruments 2024-02-29 07526238 frs-core:Non-currentFinancialInstruments 2024-02-29 07526238 frs-core:ComputerEquipment 2024-02-29 07526238 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07526238 frs-core:ComputerEquipment 2023-02-28 07526238 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 07526238 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07526238 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 07526238 frs-core:MotorVehicles 2024-02-29 07526238 frs-core:MotorVehicles 2023-03-01 2024-02-29 07526238 frs-core:MotorVehicles 2023-02-28 07526238 frs-core:PlantMachinery 2024-02-29 07526238 frs-core:PlantMachinery 2023-03-01 2024-02-29 07526238 frs-core:PlantMachinery 2023-02-28 07526238 frs-core:ShareCapital 2024-02-29 07526238 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07526238 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07526238 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07526238 frs-bus:SmallEntities 2023-03-01 2024-02-29 07526238 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07526238 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07526238 frs-bus:Director1 2023-03-01 2024-02-29 07526238 frs-bus:Director2 2023-03-01 2024-02-29 07526238 frs-countries:EnglandWales 2023-03-01 2024-02-29 07526238 2022-02-28 07526238 2023-02-28 07526238 2022-03-01 2023-02-28 07526238 frs-core:CurrentFinancialInstruments 2023-02-28 07526238 frs-core:Non-currentFinancialInstruments 2023-02-28 07526238 frs-core:ShareCapital 2023-02-28 07526238 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 07526238
Dampworks Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Arque Consulting
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07526238
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 406,706 371,905
406,706 371,905
CURRENT ASSETS
Debtors 5 120,447 102,542
Cash at bank and in hand 606,098 423,526
726,545 526,068
Creditors: Amounts Falling Due Within One Year 6 (256,580 ) (149,494 )
NET CURRENT ASSETS (LIABILITIES) 469,965 376,574
TOTAL ASSETS LESS CURRENT LIABILITIES 876,671 748,479
Creditors: Amounts Falling Due After More Than One Year 7 (90,724 ) (185,347 )
NET ASSETS 785,947 563,132
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 785,937 563,122
SHAREHOLDERS' FUNDS 785,947 563,132
Page 1
Page 2
For the year ending 29 February 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
Miss Nicola Saysell
Director
27th August 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
Dampworks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07526238 . The registered office is Addington Business Centre, 24 Vulcan Way, New Addington, Surrey, CR0 9UG.
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:
Freehold No depreciation is to be applied
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
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.
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: 12 (2023: 7)
12 7
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 303,570 32,169 120,613 18,157 474,509
Additions - 5,071 59,949 12,753 77,773
Disposals - - (31,009 ) - (31,009 )
As at 29 February 2024 303,570 37,240 149,553 30,910 521,273
Depreciation
As at 1 March 2023 - 24,323 62,098 16,183 102,604
Provided during the period - 2,468 21,059 7,727 31,254
Disposals - - (19,291 ) - (19,291 )
As at 29 February 2024 - 26,791 63,866 23,910 114,567
Net Book Value
As at 29 February 2024 303,570 10,449 85,687 7,000 406,706
As at 1 March 2023 303,570 7,846 58,515 1,974 371,905
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120,143 102,542
Prepayments and accrued income 304 -
120,447 102,542
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,927 13,322
Bank loans and overdrafts 7,620 7,620
Corporation tax 141,386 63,238
Other taxes and social security 18,246 4,358
VAT 70,053 59,741
Accruals and deferred income 2,632 1,176
Directors' loan accounts 716 39
256,580 149,494
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 90,724 185,347
90,724 185,347
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Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Tony King 34,000 30,750
Miss Nicola Saysell 34,000 30,750
Page 5