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Registered number: 12443597
Esquires Coffee Stevenage Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Greenwood & Co Limited
Chartered Certified Accountants
41 Derwent Gardens
Redbridge
Ilford
Essex
IG4 5NA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12443597
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,000 35,000
Tangible Assets 5 43,347 60,278
73,347 95,278
CURRENT ASSETS
Stocks 15,000 9,000
Debtors 6 - 13,081
Cash at bank and in hand 12,716 5,053
27,716 27,134
Creditors: Amounts Falling Due Within One Year 7 (47,842 ) (70,068 )
NET CURRENT ASSETS (LIABILITIES) (20,126 ) (42,934 )
TOTAL ASSETS LESS CURRENT LIABILITIES 53,221 52,344
Creditors: Amounts Falling Due After More Than One Year 8 (13,205 ) (23,274 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,837 ) (11,453 )
NET ASSETS 29,179 17,617
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 29,079 17,517
SHAREHOLDERS' FUNDS 29,179 17,617
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 S Ahilan
Director
Mr K Segar
Director
25/11/2024
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
Esquires Coffee Stevenage Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12443597 . The registered office is 89 Mandeville Road, Enfield, EN3 6SJ.
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 represents takings made during the year, excluding vale added tax.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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:
Fixtures & Fittings 15% reducing balance
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. Taxation
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 10)
17 10
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 50,000
As at 29 February 2024 50,000
Amortisation
As at 1 March 2023 15,000
Impairment losses 5,000
As at 29 February 2024 20,000
Net Book Value
As at 29 February 2024 30,000
As at 1 March 2023 35,000
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 126,515
Additions 2,046
As at 29 February 2024 128,561
Depreciation
As at 1 March 2023 66,237
Provided during the period 18,977
As at 29 February 2024 85,214
Net Book Value
As at 29 February 2024 43,347
As at 1 March 2023 60,278
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 120
Other debtors - 12,961
- 13,081
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,531 43,806
Bank loans and overdrafts 10,000 9,932
Amounts owed to participating interests 2,500 -
Other creditors 1,575 1,935
Taxation and social security 29,236 14,395
47,842 70,068
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,205 23,274
Page 5