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 03036197 Mr Stuart Walker Teresa Walker Mrs Caroline Thompson Mr Ian Thompson Jacqueline Bird Mr Paul Thompson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03036197 2023-03-31 03036197 2024-03-31 03036197 2023-04-01 2024-03-31 03036197 frs-core:CurrentFinancialInstruments 2024-03-31 03036197 frs-core:ComputerEquipment 2024-03-31 03036197 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03036197 frs-core:ComputerEquipment 2023-03-31 03036197 frs-core:FurnitureFittings 2024-03-31 03036197 frs-core:FurnitureFittings 2023-04-01 2024-03-31 03036197 frs-core:FurnitureFittings 2023-03-31 03036197 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 03036197 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 03036197 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 03036197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 03036197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03036197 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 03036197 frs-core:MotorVehicles 2024-03-31 03036197 frs-core:MotorVehicles 2023-04-01 2024-03-31 03036197 frs-core:MotorVehicles 2023-03-31 03036197 frs-core:PlantMachinery 2024-03-31 03036197 frs-core:PlantMachinery 2023-04-01 2024-03-31 03036197 frs-core:PlantMachinery 2023-03-31 03036197 frs-core:ShareCapital 2024-03-31 03036197 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03036197 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03036197 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03036197 frs-bus:SmallEntities 2023-04-01 2024-03-31 03036197 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03036197 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03036197 frs-bus:Director1 2023-04-01 2024-03-31 03036197 frs-bus:Director2 2023-04-01 2024-03-31 03036197 frs-bus:Director3 2023-04-01 2024-03-31 03036197 frs-bus:Director4 2023-04-01 2024-03-31 03036197 frs-bus:Director5 2023-04-01 2024-03-31 03036197 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03036197 frs-countries:EnglandWales 2023-04-01 2024-03-31 03036197 2022-03-31 03036197 2023-03-31 03036197 2022-04-01 2023-03-31 03036197 frs-core:CurrentFinancialInstruments 2023-03-31 03036197 frs-core:ShareCapital 2023-03-31 03036197 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03036197
Elite Lockers Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
De La Wyche Baker Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03036197
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,061,490 1,099,466
1,061,490 1,099,466
CURRENT ASSETS
Stocks 5 1,085,628 1,100,500
Debtors 6 1,191,562 1,344,712
Investments 7 230,085 230,085
Cash at bank and in hand 1,811,718 1,027,406
4,318,993 3,702,703
Creditors: Amounts Falling Due Within One Year 8 (1,812,467 ) (1,861,309 )
NET CURRENT ASSETS (LIABILITIES) 2,506,526 1,841,394
TOTAL ASSETS LESS CURRENT LIABILITIES 3,568,016 2,940,860
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,729 ) (89,769 )
NET ASSETS 3,480,287 2,851,091
CAPITAL AND RESERVES
Called up share capital 9 550,000 550,000
Profit and Loss Account 2,930,287 2,301,091
SHAREHOLDERS' FUNDS 3,480,287 2,851,091
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 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 Ian Thompson
Director
27 June 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
Elite Lockers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03036197 . The registered office is Daniel Street, Oldham, Lancashire, OL1 3NS.
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 nil
Leasehold nil
Plant & Machinery 10% on cost
Motor Vehicles 20% on cost
Fixtures & Fittings 10% on cost
Computer Equipment 25% on cost
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. 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.
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Page 4
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: 65 (2023: 69)
65 69
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2023 10,000 1,154,880 2,017,688 61,223
Additions - - 61,834 -
As at 31 March 2024 10,000 1,154,880 2,079,522 61,223
Depreciation
As at 1 April 2023 - 512,953 1,639,940 1,020
Provided during the period - 23,098 62,302 12,245
As at 31 March 2024 - 536,051 1,702,242 13,265
Net Book Value
As at 31 March 2024 10,000 618,829 377,280 47,958
As at 1 April 2023 10,000 641,927 377,748 60,203
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 164,329 24,486 3,432,606
Additions 530 611 62,975
As at 31 March 2024 164,859 25,097 3,495,581
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 April 2023 155,669 23,558 2,333,140
Provided during the period 2,831 475 100,951
As at 31 March 2024 158,500 24,033 2,434,091
Net Book Value
As at 31 March 2024 6,359 1,064 1,061,490
As at 1 April 2023 8,660 928 1,099,466
5. Stocks
2024 2023
£ £
Materials 676,287 648,117
Finished goods 236,762 275,020
Work in progress 172,579 177,363
1,085,628 1,100,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,096,154 1,277,436
Other debtors 95,408 67,276
1,191,562 1,344,712
7. Current Asset Investments
2024 2023
£ £
Listed investments 230,085 230,085
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,221,384 1,364,410
Other creditors 150,300 220,834
Taxation and social security 440,783 276,065
1,812,467 1,861,309
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 550,000 550,000
Page 5