Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11819807 Mr Stephen Hodge Mrs Susan Hodge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11819807 2023-02-28 11819807 2024-02-29 11819807 2023-03-01 2024-02-29 11819807 frs-core:CurrentFinancialInstruments 2024-02-29 11819807 frs-core:Non-currentFinancialInstruments 2024-02-29 11819807 frs-core:FurnitureFittings 2024-02-29 11819807 frs-core:FurnitureFittings 2023-03-01 2024-02-29 11819807 frs-core:FurnitureFittings 2023-02-28 11819807 frs-core:ShareCapital 2024-02-29 11819807 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11819807 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11819807 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11819807 frs-bus:SmallEntities 2023-03-01 2024-02-29 11819807 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11819807 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11819807 frs-bus:OrdinaryShareClass1 2023-03-01 2024-02-29 11819807 frs-bus:OrdinaryShareClass1 2024-02-29 11819807 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28 11819807 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-02-29 11819807 frs-bus:Director1 2023-03-01 2024-02-29 11819807 frs-bus:Director2 2023-03-01 2024-02-29 11819807 frs-countries:EnglandWales 2023-03-01 2024-02-29 11819807 2022-02-28 11819807 2023-02-28 11819807 2022-03-01 2023-02-28 11819807 frs-core:CurrentFinancialInstruments 2023-02-28 11819807 frs-core:Non-currentFinancialInstruments 2023-02-28 11819807 frs-core:ShareCapital 2023-02-28 11819807 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11819807 frs-bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11819807 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-02-28
Registered number: 11819807
Stoptide Cottage Limited
Financial Statements
For The Year Ended 29 February 2024
Fruition Accountancy Limited
Unit 4 Three Spires House, Station Road
Lichfield
WS13 6HX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11819807
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,219 5,625
Investment Properties 5 550,000 550,000
554,219 555,625
CURRENT ASSETS
Debtors 6 1,476 1,617
Cash at bank and in hand 18,666 20,520
20,142 22,137
Creditors: Amounts Falling Due Within One Year 7 (201,255 ) (200,112 )
NET CURRENT ASSETS (LIABILITIES) (181,113 ) (177,975 )
TOTAL ASSETS LESS CURRENT LIABILITIES 373,106 377,650
Creditors: Amounts Falling Due After More Than One Year 8 (214,557 ) (216,558 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (44,249 ) (43,194 )
NET ASSETS 114,300 117,898
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 129,583 129,583
Profit and Loss Account (15,383 ) (11,785 )
SHAREHOLDERS' FUNDS 114,300 117,898
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For the year ending 29 February 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
Mrs Susan Hodge
Director
25th 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
Stoptide Cottage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11819807 . The registered office is 82 Wychwood Avenue, Knowle, Solihull, B93 9DQ.
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. 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:
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.5. Taxation
Corporation 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: NIL (2023: NIL)
- -
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 14,686
As at 29 February 2024 14,686
Depreciation
As at 1 March 2023 9,061
Provided during the period 1,406
As at 29 February 2024 10,467
Net Book Value
As at 29 February 2024 4,219
As at 1 March 2023 5,625
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5. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 550,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,476 1,617
1,476 1,617
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 393 -
Bank loans and overdrafts 2,000 2,000
Other creditors 198,862 198,112
201,255 200,112
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 214,557 216,558
214,557 216,558
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 212,058 212,058
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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11. Reserves
Fair Value Reserve
£
As at 1 March 2023 129,583
As at 29 February 2024 129,583
12. Related Party Transactions
At the balance sheet date the company owed £197,872 (2023: £197,331) to the directors of the company.
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