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Registered number: 08083275
Classicdressage Ltd
Unaudited Financial Statements
For the Period 1 June 2023 to 31 March 2024
Bott and Co Accountants Ltd
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 08083275
31 March 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,366 7,496
6,366 7,496
CURRENT ASSETS
Debtors 5 110,418 96,316
Cash at bank and in hand 10,083 27,662
120,501 123,978
Creditors: Amounts Falling Due Within One Year 6 (95,215 ) (88,816 )
NET CURRENT ASSETS (LIABILITIES) 25,286 35,162
TOTAL ASSETS LESS CURRENT LIABILITIES 31,652 42,658
NET ASSETS 31,652 42,658
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 31,651 42,657
SHAREHOLDERS' FUNDS 31,652 42,658
Page 1
Page 2
For the period 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Julia Hornig
Director
16/12/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 June 2022 1 14,866 14,867
Profit for the year and total comprehensive income - 27,791 27,791
As at 31 May 2023 and 1 June 2023 1 42,657 42,658
Loss for the period and total comprehensive income - (11,006 ) (11,006)
As at 31 March 2024 1 31,651 31,652
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Classicdressage Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08083275 . The registered office is Jobes Barn Fosse Way, Ashorne, Warwickshire, CV35 9AE.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
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 10% on cost
Fixtures & Fittings 10% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.
2.4. Financial Instruments
The company has elected to apply the provisioins of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company balance sheet when the company becomes party to the contractual provisions of the instument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the lliability simultaneously.
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.
...CONTINUED
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2.5. Taxation - continued
Current and deferred tax are recognised in profit or loss for the period, 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 period was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 10,000 3,566 13,566
As at 31 March 2024 10,000 3,566 13,566
Depreciation
As at 1 June 2023 5,000 1,070 6,070
Provided during the period 833 297 1,130
As at 31 March 2024 5,833 1,367 7,200
Net Book Value
As at 31 March 2024 4,167 2,199 6,366
As at 1 June 2023 5,000 2,496 7,496
5. Debtors
31 March 2024 31 May 2023
£ £
Due within one year
Amounts owed by participating interests 96,316 96,316
Other debtors 14,102 -
110,418 96,316
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 May 2023
£ £
Trade creditors 2,570 -
Amounts owed to participating interests 54,000 54,000
Other creditors 31,663 27,697
Taxation and social security 6,982 7,119
95,215 88,816
7. Share Capital
31 March 2024 31 May 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5