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 04325108 Mr Kevin Andrews Mrs Shirley Andrews Mrs Shirley Andrews iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04325108 2023-02-28 04325108 2024-02-29 04325108 2023-03-01 2024-02-29 04325108 frs-core:CurrentFinancialInstruments 2024-02-29 04325108 frs-core:Non-currentFinancialInstruments 2024-02-29 04325108 frs-core:ComputerEquipment 2024-02-29 04325108 frs-core:ComputerEquipment 2023-03-01 2024-02-29 04325108 frs-core:ComputerEquipment 2023-02-28 04325108 frs-core:FurnitureFittings 2024-02-29 04325108 frs-core:FurnitureFittings 2023-03-01 2024-02-29 04325108 frs-core:FurnitureFittings 2023-02-28 04325108 frs-core:PlantMachinery 2024-02-29 04325108 frs-core:PlantMachinery 2023-03-01 2024-02-29 04325108 frs-core:PlantMachinery 2023-02-28 04325108 frs-core:CapitalRedemptionReserve 2024-02-29 04325108 frs-core:ShareCapital 2024-02-29 04325108 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04325108 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04325108 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 04325108 frs-bus:SmallEntities 2023-03-01 2024-02-29 04325108 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04325108 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04325108 frs-bus:Director1 2023-03-01 2024-02-29 04325108 frs-bus:Director2 2023-03-01 2024-02-29 04325108 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 04325108 frs-core:CurrentFinancialInstruments 9 2024-02-29 04325108 frs-countries:EnglandWales 2023-03-01 2024-02-29 04325108 2022-02-28 04325108 2023-02-28 04325108 2022-03-01 2023-02-28 04325108 frs-core:CurrentFinancialInstruments 2023-02-28 04325108 frs-core:Non-currentFinancialInstruments 2023-02-28 04325108 frs-core:CapitalRedemptionReserve 2023-02-28 04325108 frs-core:ShareCapital 2023-02-28 04325108 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 04325108 frs-core:CurrentFinancialInstruments 9 2023-02-28
Registered number: 04325108
LEIGH DECOR LTD.
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04325108
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,406 11,208
8,406 11,208
CURRENT ASSETS
Stocks 5 1,777 3,630
Debtors 6 80,395 88,164
Cash at bank and in hand 8,673 16,738
90,845 108,532
Creditors: Amounts Falling Due Within One Year 7 (18,932 ) (20,527 )
NET CURRENT ASSETS (LIABILITIES) 71,913 88,005
TOTAL ASSETS LESS CURRENT LIABILITIES 80,319 99,213
Creditors: Amounts Falling Due After More Than One Year 8 (10,044 ) (15,289 )
NET ASSETS 70,275 83,924
CAPITAL AND RESERVES
Called up share capital 9 2 2
Capital redemption reserve 30 30
Profit and Loss Account 70,243 83,892
SHAREHOLDERS' FUNDS 70,275 83,924
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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 Shirley Andrews
Director
5th November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
LEIGH DECOR LTD. is a private company, limited by shares, incorporated in England & Wales, registered number 04325108 . The registered office is 11 Chestnut Lane , Leigh , Lancashire , WN7 3JP .
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.
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 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
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 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: 3 (2023: 3)
3 3
Page 3
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 35,680 1,500 240 37,420
As at 29 February 2024 35,680 1,500 240 37,420
Depreciation
As at 1 March 2023 24,802 1,170 240 26,212
Provided during the period 2,719 83 - 2,802
As at 29 February 2024 27,521 1,253 240 29,014
Net Book Value
As at 29 February 2024 8,159 247 - 8,406
As at 1 March 2023 10,878 330 - 11,208
5. Stocks
2024 2023
£ £
Finished goods 417 417
Work in progress 1,360 3,213
1,777 3,630
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,265 9,695
Other debtors - 806
Corporation tax recoverable assets - 1,663
VAT 1,130 -
4,395 12,164
Due after more than one year
Other debtors 76,000 76,000
80,395 88,164
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,971 3,891
Bank loans and overdrafts 5,403 5,167
Corporation tax 1,054 6,500
Other taxes and social security 1,151 1,550
VAT - 1,378
Accrued expenses 1,260 1,260
Directors' loan accounts 6,093 781
18,932 20,527
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,044 15,289
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
Included in other debtors is a balance of £76,000 due from Leigh Décor (Property) Limited, a company incorporated in England and Wales number 11736532. The loan is interest free and there are no set terms of repayment.
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