Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12538549 Mr Takwirira Rinomhota iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12538549 2023-03-31 12538549 2024-03-31 12538549 2023-04-01 2024-03-31 12538549 frs-core:CurrentFinancialInstruments 2024-03-31 12538549 frs-core:Non-currentFinancialInstruments 2024-03-31 12538549 frs-core:ComputerEquipment 2024-03-31 12538549 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12538549 frs-core:ComputerEquipment 2023-03-31 12538549 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 12538549 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 12538549 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 12538549 frs-core:FurnitureFittings 2024-03-31 12538549 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12538549 frs-core:FurnitureFittings 2023-03-31 12538549 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 12538549 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 12538549 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 12538549 frs-core:MotorVehicles 2024-03-31 12538549 frs-core:MotorVehicles 2023-04-01 2024-03-31 12538549 frs-core:MotorVehicles 2023-03-31 12538549 frs-core:PlantMachinery 2024-03-31 12538549 frs-core:PlantMachinery 2023-04-01 2024-03-31 12538549 frs-core:PlantMachinery 2023-03-31 12538549 frs-core:ShareCapital 2024-03-31 12538549 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12538549 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12538549 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12538549 frs-bus:SmallEntities 2023-04-01 2024-03-31 12538549 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12538549 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12538549 frs-bus:Director1 2023-04-01 2024-03-31 12538549 frs-bus:Director1 2023-03-31 12538549 frs-bus:Director1 2024-03-31 12538549 frs-core:CurrentFinancialInstruments 1 2024-03-31 12538549 frs-core:CurrentFinancialInstruments 2 2024-03-31 12538549 frs-core:CurrentFinancialInstruments 3 2024-03-31 12538549 frs-countries:EnglandWales 2023-04-01 2024-03-31 12538549 2022-03-31 12538549 2023-03-31 12538549 2022-04-01 2023-03-31 12538549 frs-core:CurrentFinancialInstruments 2023-03-31 12538549 frs-core:Non-currentFinancialInstruments 2023-03-31 12538549 frs-core:ShareCapital 2023-03-31 12538549 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 12538549 frs-core:CurrentFinancialInstruments 1 2023-03-31 12538549 frs-core:CurrentFinancialInstruments 2 2023-03-31 12538549 frs-core:CurrentFinancialInstruments 3 2023-03-31
Registered number: 12538549
Boutique Stone Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
30 North Street
Keighley
BD21 3SE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 12538549
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 273 1,035
Tangible Assets 5 137,882 79,392
138,155 80,427
CURRENT ASSETS
Stocks 6 173,875 123,642
Debtors 7 151,861 266,711
Cash at bank and in hand 72,809 169,017
398,545 559,370
Creditors: Amounts Falling Due Within One Year 8 (730,254 ) (618,160 )
NET CURRENT ASSETS (LIABILITIES) (331,709 ) (58,790 )
TOTAL ASSETS LESS CURRENT LIABILITIES (193,554 ) 21,637
Creditors: Amounts Falling Due After More Than One Year 9 (378,534 ) (345,530 )
NET LIABILITIES (572,088 ) (323,893 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (572,089 ) (323,894 )
SHAREHOLDERS' FUNDS (572,088) (323,893)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Takwirira Rinomhota
Director
12th October 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Boutique Stone Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12538549 . The registered office is B Unit B, Armley Business Park, 41-43 Stanningley Road, Leeds, LS12 3LW.
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 - Intellectual Property
Intellectual property assets are Trademark Name. It is amortised to the profit and loss account over its estimated economic life of 4.3 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:
Leasehold 20% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
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.
Page 3
Page 4
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. 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.
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: 4 (2023: 5)
4 5
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 3,312
As at 31 March 2024 3,312
Amortisation
As at 1 April 2023 2,277
Provided during the period 762
As at 31 March 2024 3,039
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 273
As at 1 April 2023 1,035
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 16,206 33,540 62,663 2,252
Additions 1,735 - 101,895 286
As at 31 March 2024 17,941 33,540 164,558 2,538
Depreciation
As at 1 April 2023 2,676 23,589 13,435 301
Provided during the period 2,171 8,013 33,157 529
As at 31 March 2024 4,847 31,602 46,592 830
Net Book Value
As at 31 March 2024 13,094 1,938 117,966 1,708
As at 1 April 2023 13,530 9,951 49,228 1,951
Computer Equipment Total
£ £
Cost
As at 1 April 2023 6,222 120,883
Additions - 103,916
As at 31 March 2024 6,222 224,799
Depreciation
As at 1 April 2023 1,490 41,491
Provided during the period 1,556 45,426
As at 31 March 2024 3,046 86,917
Net Book Value
As at 31 March 2024 3,176 137,882
As at 1 April 2023 4,732 79,392
Page 5
Page 6
6. Stocks
2024 2023
£ £
Finished goods 173,875 123,642
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,406 133,139
Other debtors 9,262 121,673
Other taxes and social security - 6,508
Net wages - 419
Director's loan account 139,193 4,972
151,861 266,711
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 346,413 228,923
Bank loans and overdrafts 9,858 185,347
Corporation tax 1,582 11,988
Other taxes and social security 3,197 -
VAT 250,935 60,152
Net wages 8,013 -
Other creditors - 99,518
Barclaycard 21,533 22,733
Capital On Tap 3,935 9,499
Loans 80,788 -
Accruals and deferred income 4,000 -
730,254 618,160
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 378,534 345,530
Page 6
Page 7
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Takwirira Rinomhota 4,972 134,095 - - 139,067
The above loan is unsecured, interest free and repayable on demand.
Page 7