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Registered number: 07571469
Organic Roofs Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Craker Business Solutions LTD
Certified Chartered Accountants
4 Spur Road
Cosham
Portsmouth
PO6 3EB
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Organic Roofs Ltd for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Organic Roofs Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Organic Roofs Ltd , as a body, in accordance with the terms of our engagement letter dated 28 September 2011. Our work has been undertaken solely to prepare for your approval the accounts of Organic Roofs Ltd and state those matters that we have agreed to state to the director of Organic Roofs Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Organic Roofs Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Organic Roofs Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Organic Roofs Ltd . You consider that Organic Roofs Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Organic Roofs Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
15 November 2024
Craker Business Solutions LTD
Certified Chartered Accountants
4 Spur Road
Cosham
Portsmouth
PO6 3EB
Page 1
Page 2
Balance Sheet
Registered number: 07571469
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,305 3,548
3,305 3,548
CURRENT ASSETS
Debtors 6 19,488 43,819
Investments 7 - 3,923
Cash at bank and in hand 6,353 21,000
25,841 68,742
Creditors: Amounts Falling Due Within One Year 8 (27,709 ) (62,946 )
NET CURRENT ASSETS (LIABILITIES) (1,868 ) 5,796
TOTAL ASSETS LESS CURRENT LIABILITIES 1,437 9,344
Creditors: Amounts Falling Due After More Than One Year 9 (280 ) (10,501 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (770 ) (674 )
NET ASSETS/(LIABILITIES) 387 (1,831 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium account 3,994 3,994
Profit and Loss Account (3,707 ) (5,925 )
SHAREHOLDERS' FUNDS 387 (1,831)
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Page 3
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Lee Evans
Director
15 November 2024
The notes on pages 4 to 7 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Organic Roofs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07571469 . The registered office is 3rd Floor, 86 - 90 Paul Street, London, EC2A 4NE.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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:
Leasehold 10% straight line
Plant & Machinery 33.3% straight line
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 
Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. 
Where investments in nonderivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.
Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. 
Trade creditors are not interest-bearing and are stated at their nominal value. 
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 
All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
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2.6. 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.
2.7. 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:
2024 2023
Office and administration 1 1
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 9,097
As at 31 March 2024 9,097
Amortisation
As at 1 April 2023 9,097
As at 31 March 2024 9,097
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 4,898 13,884 18,782
Additions - 688 688
As at 31 March 2024 4,898 14,572 19,470
Depreciation
As at 1 April 2023 2,624 12,610 15,234
Provided during the period 490 441 931
As at 31 March 2024 3,114 13,051 16,165
Net Book Value
As at 31 March 2024 1,784 1,521 3,305
As at 1 April 2023 2,274 1,274 3,548
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,911 27,195
Prepayments and accrued income 2,532 3,031
Other debtors - 3,997
Director's loan account 12,045 9,162
19,488 43,385
Due after more than one year
Other debtors - 434
19,488 43,819
7. Current Asset Investments
2024 2023
£ £
Other investments, held for sale - 3,923
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,035 24,315
Bank loans and overdrafts 10,571 8,407
Corporation tax 8,606 3,017
Other taxes and social security 53 207
VAT 542 4,921
Other creditors 3,600 3,600
Accruals and deferred income 3,302 18,479
27,709 62,946
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 10,221
Other creditors 280 280
280 10,501
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 94.000 each 94 94
1 Ordinary A shares of £ 6.000 each 6 6
100 100
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 Lee Evans 9,162 47,754 43,420 - 13,496
The above loan is unsecured, interest free and repayable on demand.
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