Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 10705460 Mrs A Edward Miss E Edward Miss F Edward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10705460 2023-03-31 10705460 2024-03-31 10705460 2023-04-01 2024-03-31 10705460 frs-core:CurrentFinancialInstruments 2024-03-31 10705460 frs-core:Non-currentFinancialInstruments 2024-03-31 10705460 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10705460 frs-core:FurnitureFittings 2023-04-01 2024-03-31 10705460 frs-core:NetGoodwill 2024-03-31 10705460 frs-core:NetGoodwill 2023-04-01 2024-03-31 10705460 frs-core:NetGoodwill 2023-03-31 10705460 frs-core:MotorVehicles 2023-04-01 2024-03-31 10705460 frs-core:PlantMachinery 2024-03-31 10705460 frs-core:PlantMachinery 2023-04-01 2024-03-31 10705460 frs-core:PlantMachinery 2023-03-31 10705460 frs-core:ShareCapital 2024-03-31 10705460 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10705460 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10705460 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10705460 frs-bus:SmallEntities 2023-04-01 2024-03-31 10705460 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10705460 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10705460 frs-bus:Director1 2023-04-01 2024-03-31 10705460 frs-bus:Director2 2023-04-01 2024-03-31 10705460 frs-bus:Director3 2023-04-01 2024-03-31 10705460 frs-countries:EnglandWales 2023-04-01 2024-03-31 10705460 2022-03-31 10705460 2023-03-31 10705460 2022-04-01 2023-03-31 10705460 frs-core:CurrentFinancialInstruments 2023-03-31 10705460 frs-core:Non-currentFinancialInstruments 2023-03-31 10705460 frs-core:ShareCapital 2023-03-31 10705460 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10705460
Simply Balanced Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Phelan Cloud Accounting
Chartered Certified Accountants
8A Basepoint Business Centre
Waterberry Drive
Waterlooville
Hampshire
PO7 7TH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10705460
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 12,762 11,775
12,762 11,775
CURRENT ASSETS
Debtors 6 15,380 13,564
Cash at bank and in hand 45,887 32,883
61,267 46,447
Creditors: Amounts Falling Due Within One Year 7 (35,991 ) (24,392 )
NET CURRENT ASSETS (LIABILITIES) 25,276 22,055
TOTAL ASSETS LESS CURRENT LIABILITIES 38,038 33,830
Creditors: Amounts Falling Due After More Than One Year 8 (5,000 ) (9,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,425 ) (2,237 )
NET ASSETS 30,613 22,593
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 30,513 22,493
SHAREHOLDERS' FUNDS 30,613 22,593
Page 1
Page 2
For the year ending 31 March 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 A Edward
Director
2 December 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
Simply Balanced Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10705460 . The registered office is 18 New Road, Clanfield, Waterlooville, PO8 0NS.
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.
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 5 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:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
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: 7 (2023: 6)
7 6
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 11,000
As at 31 March 2024 11,000
Amortisation
As at 1 April 2023 11,000
As at 31 March 2024 11,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2023 18,788
Additions 4,014
Disposals (462 )
As at 31 March 2024 22,340
Depreciation
As at 1 April 2023 7,013
Provided during the period 2,657
Disposals (92 )
As at 31 March 2024 9,578
Net Book Value
As at 31 March 2024 12,762
As at 1 April 2023 11,775
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,134 8,842
Other debtors 2,246 4,722
15,380 13,564
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,430 1,468
Bank loans and overdrafts 4,000 4,000
Other creditors 14,233 11,795
Taxation and social security 13,328 7,129
35,991 24,392
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,000 9,000
9. Secured Creditors
Of the creditors the following amounts are secured.
Bank loans totalling £9,000 (2023: £13,000) relate to a loan granted under the Bounce Back Loan Scheme. In the event of default by the company, repayment of the loan and interest is guaranteed by the UK government.
2024 2023
£ £
Bank loans and overdrafts 9,000 13,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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