Acorah Software Products - Accounts Production 15.0.600 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11979431 Mr Amandeep Gill Mr Grant Somerville iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11979431 2023-05-31 11979431 2024-05-31 11979431 2023-06-01 2024-05-31 11979431 frs-core:CurrentFinancialInstruments 2024-05-31 11979431 frs-core:Non-currentFinancialInstruments 2024-05-31 11979431 frs-core:BetweenOneFiveYears 2024-05-31 11979431 frs-core:ComputerEquipment 2024-05-31 11979431 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11979431 frs-core:ComputerEquipment 2023-05-31 11979431 frs-core:MotorVehicles 2024-05-31 11979431 frs-core:MotorVehicles 2023-06-01 2024-05-31 11979431 frs-core:MotorVehicles 2023-05-31 11979431 frs-core:WithinOneYear 2024-05-31 11979431 frs-core:ShareCapital 2024-05-31 11979431 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11979431 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11979431 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11979431 frs-bus:SmallEntities 2023-06-01 2024-05-31 11979431 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11979431 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11979431 frs-bus:Director1 2023-06-01 2024-05-31 11979431 frs-bus:Director1 2023-05-31 11979431 frs-bus:Director1 2024-05-31 11979431 frs-bus:Director2 2023-06-01 2024-05-31 11979431 frs-bus:Director2 2023-05-31 11979431 frs-bus:Director2 2024-05-31 11979431 frs-countries:EnglandWales 2023-06-01 2024-05-31 11979431 2022-05-31 11979431 2023-05-31 11979431 2022-06-01 2023-05-31 11979431 frs-core:CurrentFinancialInstruments 2023-05-31 11979431 frs-core:Non-currentFinancialInstruments 2023-05-31 11979431 frs-core:BetweenOneFiveYears 2023-05-31 11979431 frs-core:WithinOneYear 2023-05-31 11979431 frs-core:ShareCapital 2023-05-31 11979431 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11979431
Melbury Wood Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Finerva
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11979431
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 84,031 69,524
84,031 69,524
CURRENT ASSETS
Debtors 5 143,483 122,541
Cash at bank and in hand 104,102 57,332
247,585 179,873
Creditors: Amounts Falling Due Within One Year 6 (129,111 ) (70,079 )
NET CURRENT ASSETS (LIABILITIES) 118,474 109,794
TOTAL ASSETS LESS CURRENT LIABILITIES 202,505 179,318
Creditors: Amounts Falling Due After More Than One Year 7 (68,559 ) (59,397 )
NET ASSETS 133,946 119,921
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account 133,746 119,721
SHAREHOLDERS' FUNDS 133,946 119,921
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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.
The financial statements were approved by the board of directors on 31 October 2024 and were signed on its behalf by:
Mr Amandeep Gill
Director
31 October 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
Melbury Wood Limited is a private company,  limited by shares, incorporated in England & Wales, registered number 11979431 . The registered office is 21 Melbury Avenue, Southall, UB2 4HR.
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. Going Concern Disclosure
The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Revenue is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period in which the services are provided.

2.4. 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% Reducing balance
Computer Equipment 25% Reducing balance
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss. 
2.5. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.
Leased assets acquired by way of finance lease are stated on initial recognition at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, including any incremental costs directly attributable to negotiating and arranging the lease. At initial recognition a finance lease liability is recognised equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments, calculated using the interest rate implicit in the lease.
Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability using the rate implicit in the lease. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Contingent rents are charged as expenses in the periods in which they are incurred.
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease as an integral part of the total lease expenses.
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2.6. Financial Instruments
Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.7. 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.
2.8. 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.
2.9. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.
3. Average Number of Employees
Average number of employees during the year was as follows: 7 (2023: 7)
7 7
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 98,865 2,137 101,002
Additions 57,709 1,557 59,266
Disposals (48,426 ) - (48,426 )
As at 31 May 2024 108,148 3,694 111,842
Depreciation
As at 1 June 2023 30,319 1,159 31,478
Provided during the period 15,317 343 15,660
Disposals (19,327 ) - (19,327 )
As at 31 May 2024 26,309 1,502 27,811
Net Book Value
As at 31 May 2024 81,839 2,192 84,031
As at 1 June 2023 68,546 978 69,524
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 102,010 78,432
Other debtors 41,473 44,109
143,483 122,541
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,672 11,533
Trade creditors 534 106
Other creditors 4,170 25,241
Taxation and social security 111,735 33,199
129,111 70,079
Included in other creditors are outstanding pension contributions totalling £904 (2023: £768)
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 68,559 59,397
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,672 11,533
Later than one year and not later than five years 68,559 59,397
81,231 70,930
81,231 70,930
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 18,851
- 18,851
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Amandeep Gill 821 840 1,661 - -
Mr Grant Somerville 27,876 2,372 29,876 - 372
The above loan is unsecured, interest free and repayable on demand.
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