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 08412558 Mr Neil Smith Mrs Julie Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08412558 2023-02-28 08412558 2024-02-29 08412558 2023-03-01 2024-02-29 08412558 frs-core:CurrentFinancialInstruments 2024-02-29 08412558 frs-core:Non-currentFinancialInstruments 2024-02-29 08412558 frs-core:PlantMachinery 2024-02-29 08412558 frs-core:PlantMachinery 2023-03-01 2024-02-29 08412558 frs-core:PlantMachinery 2023-02-28 08412558 frs-core:ShareCapital 2024-02-29 08412558 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08412558 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08412558 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08412558 frs-bus:SmallEntities 2023-03-01 2024-02-29 08412558 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08412558 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08412558 frs-bus:Director1 2023-03-01 2024-02-29 08412558 frs-bus:Director2 2023-03-01 2024-02-29 08412558 frs-core:CurrentFinancialInstruments 1 2024-02-29 08412558 frs-countries:EnglandWales 2023-03-01 2024-02-29 08412558 2022-02-28 08412558 2023-02-28 08412558 2022-03-01 2023-02-28 08412558 frs-core:CurrentFinancialInstruments 2023-02-28 08412558 frs-core:Non-currentFinancialInstruments 2023-02-28 08412558 frs-core:ShareCapital 2023-02-28 08412558 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 08412558 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 08412558
Form Residential Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
BusinessWise Accountancy & Tax Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08412558
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 24,709
- 24,709
CURRENT ASSETS
Stocks 5 991,280 755,740
Debtors 6 395,326 377,066
Cash at bank and in hand 320 3,990
1,386,926 1,136,796
Creditors: Amounts Falling Due Within One Year 7 (950,967 ) (660,711 )
NET CURRENT ASSETS (LIABILITIES) 435,959 476,085
TOTAL ASSETS LESS CURRENT LIABILITIES 435,959 500,794
Creditors: Amounts Falling Due After More Than One Year 8 (357,500 ) (367,500 )
NET ASSETS 78,459 133,294
CAPITAL AND RESERVES
Called up share capital 9 3 3
Profit and Loss Account 78,456 133,291
SHAREHOLDERS' FUNDS 78,459 133,294
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 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
Mr Neil Smith
Director
26/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Form Residential Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08412558 . The registered office is Belvoir Vue Sutton Lane, Granby, Nottingham, England, NG13 9PY.
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
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 48,260
Disposals (48,260 )
As at 29 February 2024 -
Depreciation
As at 1 March 2023 23,551
Disposals (23,551 )
As at 29 February 2024 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 24,709
5. Stocks
2024 2023
£ £
Work in progress 991,280 755,740
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,342
Other debtors 362,336 361,775
VAT Recoverable 32,990 13,949
395,326 377,066
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,282 7,592
Bank loans and overdrafts 10,899 10,000
Other loans 50,000 50,000
Other creditors 525,000 525,000
Accruals and deferred income 2,682 2,980
Directors' loan accounts 360,104 65,139
950,967 660,711
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
Directors loan account 345,000 345,000
357,500 367,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
Page 4