Acorah Software Products - Accounts Production 16.0.110 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 04085227 Mrs Surinder Jawanda iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04085227 2023-06-30 04085227 2024-06-30 04085227 2023-07-01 2024-06-30 04085227 frs-core:CurrentFinancialInstruments 2024-06-30 04085227 frs-core:Non-currentFinancialInstruments 2024-06-30 04085227 frs-core:ComputerEquipment 2024-06-30 04085227 frs-core:ComputerEquipment 2023-07-01 2024-06-30 04085227 frs-core:ComputerEquipment 2023-06-30 04085227 frs-core:FurnitureFittings 2024-06-30 04085227 frs-core:FurnitureFittings 2023-07-01 2024-06-30 04085227 frs-core:FurnitureFittings 2023-06-30 04085227 frs-core:NetGoodwill 2024-06-30 04085227 frs-core:NetGoodwill 2023-07-01 2024-06-30 04085227 frs-core:NetGoodwill 2023-06-30 04085227 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 04085227 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 04085227 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 04085227 frs-core:MotorVehicles 2024-06-30 04085227 frs-core:MotorVehicles 2023-07-01 2024-06-30 04085227 frs-core:MotorVehicles 2023-06-30 04085227 frs-core:ShareCapital 2024-06-30 04085227 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 04085227 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04085227 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 04085227 frs-bus:SmallEntities 2023-07-01 2024-06-30 04085227 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04085227 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04085227 frs-bus:Director1 2023-07-01 2024-06-30 04085227 frs-countries:EnglandWales 2023-07-01 2024-06-30 04085227 2022-06-30 04085227 2023-06-30 04085227 2022-07-01 2023-06-30 04085227 frs-core:CurrentFinancialInstruments 2023-06-30 04085227 frs-core:Non-currentFinancialInstruments 2023-06-30 04085227 frs-core:ShareCapital 2023-06-30 04085227 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 04085227
Lakshmi Sweet Centre Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Phillips Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04085227
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 74,759 49,122
74,759 49,122
CURRENT ASSETS
Stocks 6 9,605 9,995
Debtors 7 15,790 45,138
Cash at bank and in hand 91,132 195,046
116,527 250,179
Creditors: Amounts Falling Due Within One Year 8 (27,138 ) (53,455 )
NET CURRENT ASSETS (LIABILITIES) 89,389 196,724
TOTAL ASSETS LESS CURRENT LIABILITIES 164,148 245,846
Creditors: Amounts Falling Due After More Than One Year 9 (9,979 ) (19,168 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (9,049 )
NET ASSETS 154,169 217,629
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 154,069 217,529
SHAREHOLDERS' FUNDS 154,169 217,629
Page 1
Page 2
For the year ending 30 June 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 her 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 Surinder Jawanda
Director
25/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lakshmi Sweet Centre Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04085227 . The registered office is 200 Dudley Road, Wolverhampton, West Midlands, WV2 3DT.
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 .... 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 4% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 10% Reducing Balance
Computer Equipment 33% Straight Line
Page 3
Page 4
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.
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 years 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 assets reflect 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: 17 (2023: 16)
17 16
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 36,908
As at 30 June 2024 36,908
Amortisation
As at 1 July 2023 36,908
As at 30 June 2024 36,908
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 2,140 24,990 138,809 1,257 167,196
Additions - - 33,851 - 33,851
As at 30 June 2024 2,140 24,990 172,660 1,257 201,047
Depreciation
As at 1 July 2023 1,735 23,048 92,410 881 118,074
Provided during the period 85 486 7,519 124 8,214
As at 30 June 2024 1,820 23,534 99,929 1,005 126,288
Net Book Value
As at 30 June 2024 320 1,456 72,731 252 74,759
As at 1 July 2023 405 1,942 46,399 376 49,122
6. Stocks
2024 2023
£ £
Materials 9,605 9,995
Page 5
Page 6
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,148 888
Corporation tax recoverable assets 5,474 5,474
Deferred tax current asset 5,837 -
Other taxes and social security 3,331 8,950
Director's loan account - 29,826
15,790 45,138
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,236 14,302
Bank loans and overdrafts 10,000 10,000
Other creditors 1,500 23,147
Accruals and deferred income 5,803 6,006
Director's loan account 1,599 -
27,138 53,455
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,979 19,168
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2024 2023
£ £
On equity shares:
Page 6