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Registered number: 13888250
London House Denture Clinic and Laboratory Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13888250
29 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,548 3,361
17,548 3,361
CURRENT ASSETS
Stocks 9,976 3,250
Debtors 5 24,914 11,502
Cash at bank and in hand 86,453 30,743
121,343 45,495
Creditors: Amounts Falling Due Within One Year 6 (56,137 ) (33,982 )
NET CURRENT ASSETS (LIABILITIES) 65,206 11,513
TOTAL ASSETS LESS CURRENT LIABILITIES 82,754 14,874
Creditors: Amounts Falling Due After More Than One Year 7 (9,595 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,334 ) (638 )
NET ASSETS 69,825 14,236
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 69,725 14,136
SHAREHOLDERS' FUNDS 69,825 14,236
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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 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 James Slack
Director
26 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
London House Denture Clinic and Laboratory Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13888250 . The registered office is Suite 1, The Old Dairy, Elm Farm Business Park, Norwich Common, Wymondham, Norfolk, NR18 0SW.
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 20% Reducing balance
Computer Equipment 20% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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. Financial Instruments
A financial asset or a financial liability is only recognised when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount of receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
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2.7. 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: 2)
3 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 3,654 548 4,202
Additions 16,574 1,999 18,573
As at 29 February 2024 20,228 2,547 22,775
Depreciation
As at 1 March 2023 731 110 841
Provided during the period 3,899 487 4,386
As at 29 February 2024 4,630 597 5,227
Net Book Value
As at 29 February 2024 15,598 1,950 17,548
As at 1 March 2023 2,923 438 3,361
5. Debtors
29 February 2024 28 February 2023
£ £
Due within one year
Trade debtors 24,914 11,502
24,914 11,502
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6. Creditors: Amounts Falling Due Within One Year
29 February 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,399 -
Trade creditors 7,945 1,951
Corporation tax 24,028 11,673
Other taxes and social security 2,738 -
Net wages 800 1,470
Other creditors 16,177 16,724
Pensions payable 130 35
Accruals and deferred income 1,920 2,129
56,137 33,982
Included within other creditors is a balance owing to the director. The loan is repayable on demand and no interest has been charged.
7. Creditors: Amounts Falling Due After More Than One Year
29 February 2024 28 February 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,595 -
9,595 -
8. Obligations Under Finance Leases and Hire Purchase
29 February 2024 28 February 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,399 -
Later than one year and not later than five years 9,595 -
11,994 -
11,994 -
9. Share Capital
29 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 100 100
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