Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 11292578 Mr Bradley Read Mrs Maria Read iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11292578 2023-04-30 11292578 2024-04-30 11292578 2023-05-01 2024-04-30 11292578 frs-core:CurrentFinancialInstruments 2024-04-30 11292578 frs-core:FurnitureFittings 2024-04-30 11292578 frs-core:FurnitureFittings 2023-05-01 2024-04-30 11292578 frs-core:FurnitureFittings 2023-04-30 11292578 frs-core:MotorVehicles 2024-04-30 11292578 frs-core:MotorVehicles 2023-05-01 2024-04-30 11292578 frs-core:MotorVehicles 2023-04-30 11292578 frs-core:ShareCapital 2024-04-30 11292578 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 11292578 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11292578 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 11292578 frs-bus:SmallEntities 2023-05-01 2024-04-30 11292578 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11292578 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11292578 frs-bus:Director1 2023-05-01 2024-04-30 11292578 frs-bus:Director2 2023-05-01 2024-04-30 11292578 frs-countries:EnglandWales 2023-05-01 2024-04-30 11292578 2022-04-30 11292578 2023-04-30 11292578 2022-05-01 2023-04-30 11292578 frs-core:CurrentFinancialInstruments 2023-04-30 11292578 frs-core:ShareCapital 2023-04-30 11292578 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 11292578
B&M READ LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
PLS Management
Pls Management
44 Richmond Road
Kingston Upon Thames
KT2 5EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11292578
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,805 6,682
57,805 6,682
CURRENT ASSETS
Stocks 5 4,156 4,156
Debtors 6 12,149 1,884
Investments 7 14,379 8,457
Cash at bank and in hand 9,731 69,565
40,415 84,062
Creditors: Amounts Falling Due Within One Year 8 (72,122 ) (51,076 )
NET CURRENT ASSETS (LIABILITIES) (31,707 ) 32,986
TOTAL ASSETS LESS CURRENT LIABILITIES 26,098 39,668
NET ASSETS 26,098 39,668
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 25,998 39,568
SHAREHOLDERS' FUNDS 26,098 39,668
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For the year ending 30 April 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 Bradley Read
Director
28/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
B&M READ LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11292578 . The registered office is Cock Inn, Shoreham Lane, Halstead, Kent, TN14 7DD.
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:
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 6)
9 6
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 May 2023 - 7,467 7,467
Additions 41,287 16,400 57,687
As at 30 April 2024 41,287 23,867 65,154
Depreciation
As at 1 May 2023 - 785 785
Provided during the period 2,064 4,500 6,564
As at 30 April 2024 2,064 5,285 7,349
Net Book Value
As at 30 April 2024 39,223 18,582 57,805
As at 1 May 2023 - 6,682 6,682
5. Stocks
2024 2023
£ £
Finished goods 4,156 4,156
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 12,149 824
Corporation tax recoverable assets - 1,060
12,149 1,884
7. Current Asset Investments
2024 2023
£ £
Short term deposits 14,379 8,457
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,974 6,806
Bank loans and overdrafts 49,641 -
Corporation tax (3,394 ) 4,957
Other taxes and social security 10,070 5,115
VAT 270 28,889
Net wages 362 -
Other creditors 50 -
Accruals and deferred income (2,364 ) -
Directors' loan accounts 3,513 5,309
72,122 51,076
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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