Acorah Software Products - Accounts Production 15.0.600 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 03541972 Mr A Kear Mr A Kear true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03541972 2023-04-30 03541972 2024-04-30 03541972 2023-05-01 2024-04-30 03541972 frs-core:CurrentFinancialInstruments 2024-04-30 03541972 frs-core:NetGoodwill 2024-04-30 03541972 frs-core:NetGoodwill 2023-05-01 2024-04-30 03541972 frs-core:NetGoodwill 2023-04-30 03541972 frs-core:MotorVehicles 2024-04-30 03541972 frs-core:MotorVehicles 2023-05-01 2024-04-30 03541972 frs-core:MotorVehicles 2023-04-30 03541972 frs-core:PlantMachinery 2024-04-30 03541972 frs-core:PlantMachinery 2023-05-01 2024-04-30 03541972 frs-core:PlantMachinery 2023-04-30 03541972 frs-core:CapitalRedemptionReserve 2024-04-30 03541972 frs-core:ShareCapital 2024-04-30 03541972 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03541972 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03541972 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03541972 frs-bus:SmallEntities 2023-05-01 2024-04-30 03541972 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03541972 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03541972 1 2023-05-01 2024-04-30 03541972 frs-bus:Director1 2023-05-01 2024-04-30 03541972 frs-countries:EnglandWales 2023-05-01 2024-04-30 03541972 2022-04-30 03541972 2023-04-30 03541972 2022-05-01 2023-04-30 03541972 frs-core:CurrentFinancialInstruments 2023-04-30 03541972 frs-core:CapitalRedemptionReserve 2023-04-30 03541972 frs-core:ShareCapital 2023-04-30 03541972 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 03541972
Clockwork Creative Technology Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03541972
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 28,785 45,225
28,785 45,225
CURRENT ASSETS
Stocks 6 80,110 83,430
Debtors 7 220,707 188,549
Cash at bank and in hand 302,904 423,670
603,721 695,649
Creditors: Amounts Falling Due Within One Year 8 (365,727 ) (278,480 )
NET CURRENT ASSETS (LIABILITIES) 237,994 417,169
TOTAL ASSETS LESS CURRENT LIABILITIES 266,779 462,394
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (6,847 ) (6,678 )
NET ASSETS 259,932 455,716
CAPITAL AND RESERVES
Called up share capital 10 20,000 40,000
Capital redemption reserve 20,000 -
Profit and Loss Account 219,932 415,716
SHAREHOLDERS' FUNDS 259,932 455,716
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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 A Kear
Director
20th November 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
Clockwork Creative Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03541972 . The registered office is Unit 5, Armley Court Armley Road, Armley, Leeds, LS12 2LB.
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:
Plant & Machinery 25% Straight line
Motor Vehicles 25% Reducing balance
2.5. 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.
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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 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 20,000
As at 30 April 2024 20,000
Amortisation
As at 1 May 2023 20,000
As at 30 April 2024 20,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 21,840 121,496 143,336
Disposals (4,323 ) (39,000 ) (43,323 )
As at 30 April 2024 17,517 82,496 100,013
Depreciation
As at 1 May 2023 9,241 88,870 98,111
Provided during the period 4,379 6,855 11,234
Disposals (4,323 ) (33,794 ) (38,117 )
As at 30 April 2024 9,297 61,931 71,228
Net Book Value
As at 30 April 2024 8,220 20,565 28,785
As at 1 May 2023 12,599 32,626 45,225
6. Stocks
2024 2023
£ £
Stock 80,110 83,430
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 209,231 177,588
Prepayments and accrued income 11,476 10,961
220,707 188,549
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 51,730 26,505
Corporation tax 105,225 72,523
VAT 19,245 20,959
...CONTINUED
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Other creditors 899 871
Accruals and deferred income 184,435 149,574
Directors' loan accounts 4,193 8,048
365,727 278,480
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,847 6,678
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20,000 40,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr A Kear by virtue of his ownership of 100% of the issued share capital in the company.
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