Acorah Software Products - Accounts Production 16.0.110 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 05296764 Mr A Longworth Mrs Rebecca Longworth iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05296764 2022-11-30 05296764 2023-11-30 05296764 2022-12-01 2023-11-30 05296764 frs-core:CurrentFinancialInstruments 2023-11-30 05296764 frs-core:Non-currentFinancialInstruments 2023-11-30 05296764 frs-core:FurnitureFittings 2023-11-30 05296764 frs-core:FurnitureFittings 2022-12-01 2023-11-30 05296764 frs-core:FurnitureFittings 2022-11-30 05296764 frs-core:MotorVehicles 2023-11-30 05296764 frs-core:MotorVehicles 2022-12-01 2023-11-30 05296764 frs-core:MotorVehicles 2022-11-30 05296764 frs-core:ShareCapital 2023-11-30 05296764 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 05296764 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05296764 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 05296764 frs-bus:SmallEntities 2022-12-01 2023-11-30 05296764 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05296764 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05296764 frs-bus:OrdinaryShareClass1 2022-12-01 2023-11-30 05296764 frs-bus:OrdinaryShareClass1 2023-11-30 05296764 frs-bus:Director1 2022-12-01 2023-11-30 05296764 frs-bus:Director2 2022-12-01 2023-11-30 05296764 frs-countries:EnglandWales 2022-12-01 2023-11-30 05296764 2021-11-30 05296764 2022-11-30 05296764 2021-12-01 2022-11-30 05296764 frs-core:CurrentFinancialInstruments 2022-11-30 05296764 frs-core:Non-currentFinancialInstruments 2022-11-30 05296764 frs-core:ShareCapital 2022-11-30 05296764 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30 05296764 frs-bus:OrdinaryShareClass1 2021-12-01 2022-11-30
Registered number: 05296764
Funky Telefunken Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Ryder Tax Consultants Ltd
Richmond Bridge House 419 Richmond Road
Twickenham
TW1 2EX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05296764
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,442 2,721
1,442 2,721
CURRENT ASSETS
Stocks 5 101,289 117,789
Cash at bank and in hand 38,830 37,419
140,119 155,208
Creditors: Amounts Falling Due Within One Year 6 (101,178 ) (89,200 )
NET CURRENT ASSETS (LIABILITIES) 38,941 66,008
TOTAL ASSETS LESS CURRENT LIABILITIES 40,383 68,729
Creditors: Amounts Falling Due After More Than One Year 7 (38,809 ) (43,805 )
NET ASSETS 1,574 24,924
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 1,570 24,920
SHAREHOLDERS' FUNDS 1,574 24,924
Page 1
Page 2
For the year ending 30 November 2023 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 Longworth
Director
20/11/2024
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
Funky Telefunken Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05296764 . The registered office is 163 Tufnell Park Road, London, N7 0PU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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% on a straight line basis
Fixtures & Fittings 25% on a straight line basis
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.
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:
2023 2022
Office and administration 2 2
2 2
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 48,500 38,821 87,321
Disposals (48,500 ) - (48,500 )
As at 30 November 2023 - 38,821 38,821
Depreciation
As at 1 December 2022 48,500 36,100 84,600
Provided during the period - 1,279 1,279
Disposals (48,500 ) - (48,500 )
As at 30 November 2023 - 37,379 37,379
Net Book Value
As at 30 November 2023 - 1,442 1,442
As at 1 December 2022 - 2,721 2,721
5. Stocks
2023 2022
£ £
Stock 101,289 117,789
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 80,691 69,708
VAT 15,804 8,868
Accruals and deferred income 4,200 4,200
Directors' loan accounts 483 6,424
101,178 89,200
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 38,809 43,805
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
4 Ordinary Shares of £ 1 each 4 4
9. Pension Commitments
The company operates a defined contribution pension scheme for one director. The assets of the scheme are held separately from those of the company in an independently administered fund. At the Balance Sheet date there were no unpaid contributions (PY- Nil) due to the fund.
Page 4
Page 5
10. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 140,000 116,000
Page 5