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 03928106 Mr Gareth Hulme Mrs Joanna Hulme Mrs Pamela Hulme Mrs Pamela Hulme iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03928106 2023-02-28 03928106 2024-02-29 03928106 2023-03-01 2024-02-29 03928106 frs-core:CurrentFinancialInstruments 2024-02-29 03928106 frs-core:Non-currentFinancialInstruments 2024-02-29 03928106 frs-core:ComputerEquipment 2024-02-29 03928106 frs-core:ComputerEquipment 2023-03-01 2024-02-29 03928106 frs-core:ComputerEquipment 2023-02-28 03928106 frs-core:FurnitureFittings 2024-02-29 03928106 frs-core:FurnitureFittings 2023-03-01 2024-02-29 03928106 frs-core:FurnitureFittings 2023-02-28 03928106 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 03928106 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03928106 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 03928106 frs-core:PlantMachinery 2024-02-29 03928106 frs-core:PlantMachinery 2023-03-01 2024-02-29 03928106 frs-core:PlantMachinery 2023-02-28 03928106 frs-core:ShareCapital 2024-02-29 03928106 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03928106 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03928106 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 03928106 frs-bus:SmallEntities 2023-03-01 2024-02-29 03928106 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03928106 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03928106 frs-bus:Director1 2023-03-01 2024-02-29 03928106 frs-bus:Director2 2023-03-01 2024-02-29 03928106 frs-bus:Director2 2023-02-28 03928106 frs-bus:Director2 2024-02-29 03928106 frs-bus:Director3 2023-03-01 2024-02-29 03928106 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 03928106 frs-countries:EnglandWales 2023-03-01 2024-02-29 03928106 2022-02-28 03928106 2023-02-28 03928106 2022-03-01 2023-02-28 03928106 frs-core:CurrentFinancialInstruments 2023-02-28 03928106 frs-core:Non-currentFinancialInstruments 2023-02-28 03928106 frs-core:ShareCapital 2023-02-28 03928106 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 03928106
Sharples Davies Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Lumb Accountancy Services Limited
Chartered Certified Accountants
New Hall Hey Business Centre
New Hall Hey Road
Rawtenstall
Lancashire
BB4 6HL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03928106
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,461 57,274
39,461 57,274
CURRENT ASSETS
Debtors 5 31,243 54,496
Cash at bank and in hand 117,829 132,284
149,072 186,780
Creditors: Amounts Falling Due Within One Year 6 (94,053 ) (112,829 )
NET CURRENT ASSETS (LIABILITIES) 55,019 73,951
TOTAL ASSETS LESS CURRENT LIABILITIES 94,480 131,225
Creditors: Amounts Falling Due After More Than One Year 7 (16,489 ) (26,580 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,407 ) (5,529 )
NET ASSETS 73,584 99,116
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 73,484 99,016
SHAREHOLDERS' FUNDS 73,584 99,116
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
Mrs Joanna Hulme
Director
25 September 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
Sharples Davies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03928106 . The registered office is 22 St Thomas's Road, Chorley, Lancashire, PR7 1HR.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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:
Leasehold 2% straight line basis
Plant & Machinery 10% straight line basis
Fixtures & Fittings 10% straight line basis
Computer Equipment 33% straight line basis
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: 6 (2023: 5)
6 5
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 148,638 2,108 28,720 8,171 187,637
As at 29 February 2024 148,638 2,108 28,720 8,171 187,637
Depreciation
As at 1 March 2023 103,003 1,950 17,239 8,171 130,363
Provided during the period 14,864 76 2,873 - 17,813
As at 29 February 2024 117,867 2,026 20,112 8,171 148,176
Net Book Value
As at 29 February 2024 30,771 82 8,608 - 39,461
As at 1 March 2023 45,635 158 11,481 - 57,274
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 27,540 53,538
Other debtors 3,703 958
31,243 54,496
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,119 1,400
Bank loans and overdrafts 10,091 9,853
Amounts owed to participating interests 16,848 11,732
Other creditors 39,933 54,466
Taxation and social security 19,062 35,378
94,053 112,829
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,489 26,580
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Gareth Hulme - 2,745 - - 2,745
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Gareth Hulme 38,011 37,011
Mrs Pamela Hulme 1,989 1,989
During the year Sharples Davies Limited has provided security by way of guarantee on a loan taken out by Mrs
P Hulme. The maximum liability that may be incurred by the company is £89,553 (2023 - £101,085). In
fulfilling the guarantee the amount paid and liability incurred amounted to £Nil (2023 - £Nil). £Nil was repaid
during the year (2023 - £Nil).
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 40,000 39,000
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