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 07070665 Mr S Wheeler Mr S Wheeler iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07070665 2023-02-28 07070665 2024-02-29 07070665 2023-03-01 2024-02-29 07070665 frs-core:CurrentFinancialInstruments 2024-02-29 07070665 frs-core:Non-currentFinancialInstruments 2024-02-29 07070665 frs-core:ComputerEquipment 2024-02-29 07070665 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07070665 frs-core:ComputerEquipment 2023-02-28 07070665 frs-core:FurnitureFittings 2024-02-29 07070665 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07070665 frs-core:FurnitureFittings 2023-02-28 07070665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 07070665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07070665 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 07070665 frs-core:MotorVehicles 2024-02-29 07070665 frs-core:MotorVehicles 2023-03-01 2024-02-29 07070665 frs-core:MotorVehicles 2023-02-28 07070665 frs-core:OtherResidualIntangibleAssets 2024-02-29 07070665 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 07070665 frs-core:OtherResidualIntangibleAssets 2023-02-28 07070665 frs-core:PlantMachinery 2024-02-29 07070665 frs-core:PlantMachinery 2023-03-01 2024-02-29 07070665 frs-core:PlantMachinery 2023-02-28 07070665 frs-core:RevaluationReserve 2023-02-28 07070665 frs-core:RevaluationReserve 2024-02-29 07070665 frs-core:ShareCapital 2024-02-29 07070665 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07070665 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07070665 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07070665 frs-bus:SmallEntities 2023-03-01 2024-02-29 07070665 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07070665 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07070665 frs-core:ListedExchangeTraded 2024-02-29 07070665 frs-core:ListedExchangeTraded 2023-02-28 07070665 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-02-28 07070665 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-02-29 07070665 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-02-28 07070665 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-02-29 07070665 frs-bus:Director1 2023-03-01 2024-02-29 07070665 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 07070665 frs-countries:EnglandWales 2023-03-01 2024-02-29 07070665 2022-02-28 07070665 2023-02-28 07070665 2022-03-01 2023-02-28 07070665 frs-core:CurrentFinancialInstruments 2023-02-28 07070665 frs-core:Non-currentFinancialInstruments 2023-02-28 07070665 frs-core:RevaluationReserve 2023-02-28 07070665 frs-core:ShareCapital 2023-02-28 07070665 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 07070665
Scooters And Spares 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—6
Page 1
Balance Sheet
Registered number: 07070665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 102,026 144,334
Tangible Assets 5 209,679 224,568
Investments 6 578,000 578,000
889,705 946,902
CURRENT ASSETS
Stocks 7 194,652 285,655
Debtors 8 145,981 7,149
Cash at bank and in hand 38,403 19,810
379,036 312,614
Creditors: Amounts Falling Due Within One Year 9 (191,314 ) (322,563 )
NET CURRENT ASSETS (LIABILITIES) 187,722 (9,949 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,077,427 936,953
Creditors: Amounts Falling Due After More Than One Year 10 - (27,082 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (39,839 ) (42,668 )
NET ASSETS 1,037,588 867,203
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 50,000 50,000
Profit and Loss Account 987,488 817,103
SHAREHOLDERS' FUNDS 1,037,588 867,203
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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
Mr S Wheeler
Director
28/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Scooters And Spares Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07070665 . The registered office is Unit E, Riverside Pontymister Industrial Estate, Risca, Newport, NP11 6NP.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which is 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 10% Straight Line
Computer Equipment 25% Straight Line
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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 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: 5 (2023: 5)
5 5
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 March 2023 411,637
As at 29 February 2024 411,637
Amortisation
As at 1 March 2023 267,303
Provided during the period 42,308
As at 29 February 2024 309,611
Net Book Value
As at 29 February 2024 102,026
As at 1 March 2023 144,334
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 March 2023 160,000 39,287 60,690 16,905
As at 29 February 2024 160,000 39,287 60,690 16,905
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 March 2023 - 38,478 - 16,874
Provided during the period - 498 12,138 5
As at 29 February 2024 - 38,976 12,138 16,879
Net Book Value
As at 29 February 2024 160,000 311 48,552 26
As at 1 March 2023 160,000 809 60,690 31
Computer Equipment Total
£ £
Cost or Valuation
As at 1 March 2023 27,298 304,180
As at 29 February 2024 27,298 304,180
Depreciation
As at 1 March 2023 24,260 79,612
Provided during the period 2,248 14,889
As at 29 February 2024 26,508 94,501
Net Book Value
As at 29 February 2024 790 209,679
As at 1 March 2023 3,038 224,568
6. Investments
Listed
£
Cost
As at 1 March 2023 578,000
As at 29 February 2024 578,000
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 578,000
As at 1 March 2023 578,000
7. Stocks
2024 2023
£ £
Finished goods 194,652 285,655
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 33,183 7,149
Other debtors 112,798 -
145,981 7,149
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 59,890 33,060
Bank loans and overdrafts 27,082 214,172
Other creditors 8,749 34,907
Taxation and social security 95,593 40,424
191,314 322,563
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 27,082
- 27,082
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Revaluation Reserve
£
As at 1 March 2023 50,000
As at 29 February 2024 50,000
Page 6