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 09717038 Mr Samuel Jones Mrs Camilla Jones DR Peter Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09717038 2023-03-31 09717038 2024-03-31 09717038 2023-04-01 2024-03-31 09717038 frs-core:CurrentFinancialInstruments 2024-03-31 09717038 frs-core:Non-currentFinancialInstruments 2024-03-31 09717038 frs-core:BetweenOneFiveYears 2024-03-31 09717038 frs-core:ComputerEquipment 2024-03-31 09717038 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09717038 frs-core:ComputerEquipment 2023-03-31 09717038 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09717038 frs-core:MotorVehicles 2024-03-31 09717038 frs-core:MotorVehicles 2023-04-01 2024-03-31 09717038 frs-core:MotorVehicles 2023-03-31 09717038 frs-core:PlantMachinery 2024-03-31 09717038 frs-core:PlantMachinery 2023-04-01 2024-03-31 09717038 frs-core:PlantMachinery 2023-03-31 09717038 frs-core:WithinOneYear 2024-03-31 09717038 frs-core:ShareCapital 2024-03-31 09717038 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09717038 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09717038 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09717038 frs-bus:SmallEntities 2023-04-01 2024-03-31 09717038 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09717038 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09717038 frs-bus:Director1 2023-04-01 2024-03-31 09717038 frs-bus:Director1 2023-03-31 09717038 frs-bus:Director1 2024-03-31 09717038 frs-bus:Director2 2023-04-01 2024-03-31 09717038 frs-bus:Director3 2023-04-01 2024-03-31 09717038 frs-countries:EnglandWales 2023-04-01 2024-03-31 09717038 2022-03-31 09717038 2023-03-31 09717038 2022-04-01 2023-03-31 09717038 frs-core:CurrentFinancialInstruments 2023-03-31 09717038 frs-core:Non-currentFinancialInstruments 2023-03-31 09717038 frs-core:BetweenOneFiveYears 2023-03-31 09717038 frs-core:WithinOneYear 2023-03-31 09717038 frs-core:ShareCapital 2023-03-31 09717038 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09717038
Samuel Winn Ltd
Financial Statements
For The Year Ended 31 March 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09717038
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 67,186 81,971
67,186 81,971
CURRENT ASSETS
Stocks 5 81,158 8,000
Debtors 6 191,950 218,435
Cash at bank and in hand 60,330 37,426
333,438 263,861
Creditors: Amounts Falling Due Within One Year 7 (199,401 ) (167,819 )
NET CURRENT ASSETS (LIABILITIES) 134,037 96,042
TOTAL ASSETS LESS CURRENT LIABILITIES 201,223 178,013
Creditors: Amounts Falling Due After More Than One Year 8 (50,305 ) (64,859 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,773 ) -
NET ASSETS 137,145 113,154
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 137,045 113,054
SHAREHOLDERS' FUNDS 137,145 113,154
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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 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 Samuel Jones
Director
18/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Samuel Winn Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09717038 . The registered office is Whyfield, Building A, Ground Floor , Green Court, Truro Business Park, Threemilestone, Truro, Cornwall, TR4 9LF.
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.
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:
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 33% RB
Computer Equipment 33% RB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
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2.6. 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: 17 (2023: 14)
17 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 27,276 122,675 8,868 158,819
Additions 1,177 - - 1,177
Disposals (213 ) (2,200 ) - (2,413 )
As at 31 March 2024 28,240 120,475 8,868 157,583
Depreciation
As at 1 April 2023 13,437 58,482 4,929 76,848
Provided during the period 3,470 9,223 1,300 13,993
Disposals (4 ) (440 ) - (444 )
As at 31 March 2024 16,903 67,265 6,229 90,397
Net Book Value
As at 31 March 2024 11,337 53,210 2,639 67,186
As at 1 April 2023 13,839 64,193 3,939 81,971
5. Stocks
2024 2023
£ £
Materials 29,000 8,000
Work in progress 52,158 -
81,158 8,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,630 130,240
Prepayments and accrued income 13,750 5,779
Other debtors 975 32,418
Net wages 91 -
Directors' loan accounts 144,504 49,998
191,950 218,435
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,228 12,562
Trade creditors 64,934 111,877
Bank loans and overdrafts 5,597 6,500
Corporation tax 12,816 (9,696 )
Other taxes and social security 13,031 16,125
VAT 42,737 19,350
Business credit card 48,058 11,101
199,401 167,819
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,570 31,430
Bank loans 28,735 33,429
50,305 64,859
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,228 12,562
Later than one year and not later than five years 21,570 31,430
33,798 43,992
33,798 43,992
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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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 Samuel Jones - 146,396 - - 146,396
The above loan is charged the official rate interest at 2.25%.
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