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 05363978 Nathan John Wood Carol Griffiths iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05363978 2023-03-31 05363978 2024-03-31 05363978 2023-04-01 2024-03-31 05363978 frs-core:CurrentFinancialInstruments 2024-03-31 05363978 frs-core:Non-currentFinancialInstruments 2024-03-31 05363978 frs-core:ComputerEquipment 2024-03-31 05363978 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05363978 frs-core:ComputerEquipment 2023-03-31 05363978 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 05363978 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 05363978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 05363978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 05363978 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 05363978 frs-core:ShareCapital 2024-03-31 05363978 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05363978 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05363978 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05363978 frs-bus:SmallEntities 2023-04-01 2024-03-31 05363978 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05363978 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05363978 frs-bus:Director1 2023-04-01 2024-03-31 05363978 frs-bus:Director1 2023-03-31 05363978 frs-bus:Director1 2024-03-31 05363978 frs-bus:Director2 2023-04-01 2024-03-31 05363978 frs-bus:Director2 2023-03-31 05363978 frs-bus:Director2 2024-03-31 05363978 frs-countries:EnglandWales 2023-04-01 2024-03-31 05363978 2022-03-31 05363978 2023-03-31 05363978 2022-04-01 2023-03-31 05363978 frs-core:CurrentFinancialInstruments 2023-03-31 05363978 frs-core:Non-currentFinancialInstruments 2023-03-31 05363978 frs-core:ShareCapital 2023-03-31 05363978 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05363978
Dustbag Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Dustbag Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dustbag Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm 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 directors of Dustbag Limited , as a body, in accordance with the terms of our engagement letter dated 23 November 2018. Our work has been undertaken solely to prepare for your approval the accounts of Dustbag Limited and state those matters that we have agreed to state to the directors of Dustbag Limited , 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 Dustbag Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Dustbag Limited 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 Dustbag Limited . You consider that Dustbag Limited 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 Dustbag Limited . 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
Cedar + Co.
20/11/2024
Cedar & Co.
Chartered Certified Accountants
The Greenhouse
106-108 Ashbourne Road
Derby
DE22 3AG
Page 1
Page 2
Statement of Financial Position
Registered number: 05363978
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 483 997
483 997
CURRENT ASSETS
Stocks 6 25,320 37,084
Debtors 7 45,974 40,643
71,294 77,727
Creditors: Amounts Falling Due Within One Year 8 (46,775 ) (52,412 )
NET CURRENT ASSETS (LIABILITIES) 24,519 25,315
TOTAL ASSETS LESS CURRENT LIABILITIES 25,002 26,312
Creditors: Amounts Falling Due After More Than One Year 9 (26,349 ) (32,066 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (91 ) (189 )
NET LIABILITIES (1,438 ) (5,943 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (1,538 ) (6,043 )
SHAREHOLDERS' FUNDS (1,438) (5,943)
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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 Income Statement.
On behalf of the board
Nathan John Wood
Director
20/11/2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Dustbag Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05363978 . The registered office is Room 201, Endeavour House Wrest Park, Silsoe, Bedford, MK45 4HS.
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.
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:
Leasehold Over the term of the lease.
Computer Equipment 25% on reducing balance.
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..
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 4
2 4
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4. Intangible Assets
Development Costs
£
Cost
As at 1 April 2023 5,053
As at 31 March 2024 5,053
Amortisation
As at 1 April 2023 5,053
As at 31 March 2024 5,053
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Leasehold Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 7,885 18,951 26,836
Disposals (7,885 ) (2,172 ) (10,057 )
As at 31 March 2024 - 16,779 16,779
Depreciation
As at 1 April 2023 7,885 17,954 25,839
Provided during the period - 248 248
Disposals (7,885 ) (1,906 ) (9,791 )
As at 31 March 2024 - 16,296 16,296
Net Book Value
As at 31 March 2024 - 483 483
As at 1 April 2023 - 997 997
6. Stocks
2024 2023
£ £
Stock 25,320 37,084
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,042 1,889
Other debtors 43,932 38,754
45,974 40,643
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,437 16,942
Bank loans and overdrafts 25,021 24,741
Other creditors 2,010 1,950
Taxation and social security 5,307 8,779
46,775 52,412
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,349 32,066
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within other debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Nathan John Wood 18,770 7,203 (1,365 ) - 24,607
Carol Griffiths 10,869 4,497 (2,473 ) - 12,893
The above loans are unsecured, interest free and repayable on demand.
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