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 7174024 Mr Rob King Mr Graham Morse iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 7174024 2023-03-31 7174024 2024-03-31 7174024 2023-04-01 2024-03-31 7174024 frs-core:CurrentFinancialInstruments 2024-03-31 7174024 frs-core:Non-currentFinancialInstruments 2024-03-31 7174024 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 7174024 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 7174024 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 7174024 frs-core:ShareCapital 2024-03-31 7174024 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 7174024 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 7174024 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 7174024 frs-bus:SmallEntities 2023-04-01 2024-03-31 7174024 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 7174024 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 7174024 frs-bus:Director1 2023-04-01 2024-03-31 7174024 frs-bus:Director2 2023-04-01 2024-03-31 7174024 frs-core:CurrentFinancialInstruments 1 2024-03-31 7174024 frs-countries:EnglandWales 2023-04-01 2024-03-31 7174024 2022-03-31 7174024 2023-03-31 7174024 2022-04-01 2023-03-31 7174024 frs-core:CurrentFinancialInstruments 2023-03-31 7174024 frs-core:Non-currentFinancialInstruments 2023-03-31 7174024 frs-core:ShareCapital 2023-03-31 7174024 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 7174024 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 7174024
King & Morse Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Sterling Rees Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 7174024
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 131,200 131,200
131,200 131,200
CURRENT ASSETS
Cash at bank and in hand 2,654 1,686
2,654 1,686
Creditors: Amounts Falling Due Within One Year 5 (4,221 ) (6,535 )
NET CURRENT ASSETS (LIABILITIES) (1,567 ) (4,849 )
TOTAL ASSETS LESS CURRENT LIABILITIES 129,633 126,351
Creditors: Amounts Falling Due After More Than One Year 6 (82,842 ) (86,966 )
NET ASSETS 46,791 39,385
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 46,789 39,383
SHAREHOLDERS' FUNDS 46,791 39,385
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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 Rob King
Director
07/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
King & Morse Limited is a private company, limited by shares, incorporated in England & Wales, registered number 7174024 . The registered office is 69 Llwynmawr Close , Sketty, Swansea, SA2 9HD.
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 20% Straight line method
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: NIL (2023: NIL)
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 160,000
As at 31 March 2024 160,000
Depreciation
As at 1 April 2023 28,800
As at 31 March 2024 28,800
Net Book Value
As at 31 March 2024 131,200
As at 1 April 2023 131,200
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,737 3,341
Accrued expenses 400 360
Accruals and deferred income 2,084 2,083
Directors' loan accounts - 751
4,221 6,535
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 700 700
Bank loans 17,179 24,897
Other creditors (Long term liabilities - creditors > 1 year) 33,772 30,929
Directors loan account 31,191 30,440
82,842 86,966
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Land & Bulidings
No further depreciation is being provided on Land & Buildings as it is regarded as an investment property, the directors consider that the market value is considerably higher than the book value but do not wish to incur the cost of a professional valuation.
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