Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 03704262 Mr Michael Bloomberg true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03704262 2023-02-28 03704262 2024-02-29 03704262 2023-03-01 2024-02-29 03704262 frs-core:CurrentFinancialInstruments 2024-02-29 03704262 frs-core:Non-currentFinancialInstruments 2024-02-29 03704262 frs-core:ShareCapital 2024-02-29 03704262 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 03704262 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03704262 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 03704262 frs-bus:SmallEntities 2023-03-01 2024-02-29 03704262 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03704262 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 03704262 1 2023-03-01 2024-02-29 03704262 frs-bus:Director1 2023-03-01 2024-02-29 03704262 frs-countries:EnglandWales 2023-03-01 2024-02-29 03704262 2022-02-28 03704262 2023-02-28 03704262 2022-03-01 2023-02-28 03704262 frs-core:CurrentFinancialInstruments 2023-02-28 03704262 frs-core:Non-currentFinancialInstruments 2023-02-28 03704262 frs-core:ShareCapital 2023-02-28 03704262 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 03704262
Offerlaunch Ltd
Financial Statements
For The Year Ended 29 February 2024
Jewell & Dowd Accountancy Services
54 St James Street
Liverpool
Merseyside
L1 0AB
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 03704262
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 41,500 45,000
Debtors 5 11,850 13,417
Cash at bank and in hand 69,887 55,916
123,237 114,333
Creditors: Amounts Falling Due Within One Year 6 (101,385 ) (99,329 )
NET CURRENT ASSETS (LIABILITIES) 21,852 15,004
TOTAL ASSETS LESS CURRENT LIABILITIES 21,852 15,004
Creditors: Amounts Falling Due After More Than One Year 7 (14,138 ) (20,401 )
NET ASSETS/(LIABILITIES) 7,714 (5,397 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 7,713 (5,398 )
SHAREHOLDERS' FUNDS 7,714 (5,397)
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Michael Bloomberg
Director
26/11/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Offerlaunch Ltd Registered number 03704262 is a limited by shares company incorporated in England & Wales. The Registered Office is 61 Kempston Street, Liverpool, L3 8HE.
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 April 2008).
2.2. Going Concern Disclosure
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.
The nature of the company's business is such that there can be considerable variation in the timing of cash inflows. The director considers that the company will continue to operate within it's facilities with its bankers and trade creditors. However, the margin of facilities over requirements is not large and inherently there can be no certainty in relation to these matters. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers or the removal of credit facilities by its suppliers.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Leasing and Hire Purchase Contracts
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Stocks
2024 2023
£ £
Materials 41,500 45,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,850 13,417
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 83,354 72,462
Corporation tax 7,408 9,994
Other taxes and social security - 66
VAT 10,623 16,805
Director's loan account - 2
101,385 99,329
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,138 20,401
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 10,000 5,000
10. Ultimate Controlling Party
The company's ultimate controlling party is M Bloomberg.
Page 3