Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11304235 Mrs Brooke Richards Mr Ruben Richards iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11304235 2023-05-31 11304235 2024-05-31 11304235 2023-06-01 2024-05-31 11304235 frs-core:CurrentFinancialInstruments 2024-05-31 11304235 frs-core:Non-currentFinancialInstruments 2024-05-31 11304235 frs-core:ComputerEquipment 2024-05-31 11304235 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11304235 frs-core:ComputerEquipment 2023-05-31 11304235 frs-core:FurnitureFittings 2024-05-31 11304235 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11304235 frs-core:FurnitureFittings 2023-05-31 11304235 frs-core:PlantMachinery 2024-05-31 11304235 frs-core:PlantMachinery 2023-06-01 2024-05-31 11304235 frs-core:PlantMachinery 2023-05-31 11304235 frs-core:ShareCapital 2024-05-31 11304235 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11304235 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11304235 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11304235 frs-bus:SmallEntities 2023-06-01 2024-05-31 11304235 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11304235 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11304235 frs-bus:Director1 2023-06-01 2024-05-31 11304235 frs-bus:Director2 2023-06-01 2024-05-31 11304235 frs-countries:EnglandWales 2023-06-01 2024-05-31 11304235 2022-05-31 11304235 2023-05-31 11304235 2022-06-01 2023-05-31 11304235 frs-core:CurrentFinancialInstruments 2023-05-31 11304235 frs-core:Non-currentFinancialInstruments 2023-05-31 11304235 frs-core:ShareCapital 2023-05-31 11304235 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11304235
Rubens Med Shed Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11304235
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,954 19,968
16,954 19,968
CURRENT ASSETS
Stocks 5 9,327 5,900
Debtors 6 42,170 39,780
Cash at bank and in hand 106,994 94,809
158,491 140,489
Creditors: Amounts Falling Due Within One Year 7 (144,815 ) (133,093 )
NET CURRENT ASSETS (LIABILITIES) 13,676 7,396
TOTAL ASSETS LESS CURRENT LIABILITIES 30,630 27,364
Creditors: Amounts Falling Due After More Than One Year 8 (9,108 ) (16,569 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,328 ) (3,794 )
NET ASSETS 17,194 7,001
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 17,192 6,999
SHAREHOLDERS' FUNDS 17,194 7,001
Page 1
Page 2
For the year ending 31 May 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 Ruben Richards
Director
3 October 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
Rubens Med Shed Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11304235 . The registered office is 17 Grange Avenue, Stockport, SK4 5HF.
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.
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:
Plant & Machinery 33% Reducing balance
Fixtures & Fittings 33% Reducing balance
Computer Equipment 33% Reducing balance
2.4. 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.
2.5. 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.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 22)
21 22
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 7,248 55,621 2,975 65,844
Additions 4,477 - 116 4,593
As at 31 May 2024 11,725 55,621 3,091 70,437
Depreciation
As at 1 June 2023 2,880 40,717 2,279 45,876
Provided during the period 2,427 4,919 261 7,607
As at 31 May 2024 5,307 45,636 2,540 53,483
Net Book Value
As at 31 May 2024 6,418 9,985 551 16,954
As at 1 June 2023 4,368 14,904 696 19,968
5. Stocks
2024 2023
as restated
£ £
Stock 9,327 5,900
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 39,998 33,922
Other debtors 2,172 5,858
42,170 39,780
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 15,739 24,157
Bank loans and overdrafts 8,247 9,033
Amounts owed to group undertakings 4,347 8,141
Other creditors 44,315 29,793
Taxation and social security 72,167 61,969
144,815 133,093
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 9,108 16,569
Page 5