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 08874691 Simon Powis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08874691 2023-02-28 08874691 2024-02-29 08874691 2023-03-01 2024-02-29 08874691 frs-core:CurrentFinancialInstruments 2024-02-29 08874691 frs-core:Non-currentFinancialInstruments 2024-02-29 08874691 frs-core:MotorVehicles 2024-02-29 08874691 frs-core:MotorVehicles 2023-03-01 2024-02-29 08874691 frs-core:MotorVehicles 2023-02-28 08874691 frs-core:PlantMachinery 2024-02-29 08874691 frs-core:PlantMachinery 2023-03-01 2024-02-29 08874691 frs-core:PlantMachinery 2023-02-28 08874691 frs-core:ShareCapital 2024-02-29 08874691 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08874691 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08874691 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08874691 frs-bus:SmallEntities 2023-03-01 2024-02-29 08874691 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08874691 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08874691 frs-bus:Director1 2023-03-01 2024-02-29 08874691 frs-bus:Director1 2023-02-28 08874691 frs-bus:Director1 2024-02-29 08874691 frs-countries:EnglandWales 2023-03-01 2024-02-29 08874691 2022-02-28 08874691 2023-02-28 08874691 2022-03-01 2023-02-28 08874691 frs-core:CurrentFinancialInstruments 2023-02-28 08874691 frs-core:Non-currentFinancialInstruments 2023-02-28 08874691 frs-core:ShareCapital 2023-02-28 08874691 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08874691
S J Powis Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Trenans Accountancy Ltd.
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08874691
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 739 4,723
739 4,723
CURRENT ASSETS
Debtors 5 26,159 16,115
Cash at bank and in hand 22,428 57,429
48,587 73,544
Creditors: Amounts Falling Due Within One Year 6 (32,453 ) (52,620 )
NET CURRENT ASSETS (LIABILITIES) 16,134 20,924
TOTAL ASSETS LESS CURRENT LIABILITIES 16,873 25,647
Creditors: Amounts Falling Due After More Than One Year 7 (12,500 ) (22,500 )
NET ASSETS 4,373 3,147
CAPITAL AND RESERVES
Called up share capital 8 3 3
Profit and Loss Account 4,370 3,144
SHAREHOLDERS' FUNDS 4,373 3,147
Page 1
Page 2
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
Simon Powis
Director
22nd November 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
S J Powis Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08874691 . The registered office is 44 West End Cholsey, Wallingford, Oxon, OX10 9LW.
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:
Plant & Machinery 4 years
Motor Vehicles 4 years
2.4. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2 (2023: 3)
2 3
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 1,662 18,500 20,162
Additions 899 - 899
Disposals - (5,000 ) (5,000 )
As at 29 February 2024 2,561 13,500 16,061
Depreciation
As at 1 March 2023 1,564 13,875 15,439
Provided during the period 258 3,375 3,633
Disposals - (3,750 ) (3,750 )
As at 29 February 2024 1,822 13,500 15,322
Net Book Value
As at 29 February 2024 739 - 739
As at 1 March 2023 98 4,625 4,723
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,921 1,139
Prepayments and accrued income - 1,668
Corporation tax recoverable assets - 3,185
Other taxes and social security 181 -
Director's loan account 18,058 7,637
20,160 13,629
Due after more than one year
Corporation tax recoverable assets 5,999 2,486
5,999 2,486
26,159 16,115
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,745 444
Bank loans and overdrafts 10,000 10,000
Corporation tax 16,213 10,480
VAT 395 10,696
Accruals and deferred income 2,100 21,000
32,453 52,620
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
12,500 22,500
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Simon Powis 7,650 10,500 92 - 18,058
The above loan is unsecured, interest is charged at 2.25% and the loan is repayable on demand.
Page 5