Acorah Software Products - Accounts Production 16.0.110 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08253017 C Ostwald iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08253017 2022-10-31 08253017 2023-10-31 08253017 2022-11-01 2023-10-31 08253017 frs-core:CurrentFinancialInstruments 2023-10-31 08253017 frs-core:Non-currentFinancialInstruments 2023-10-31 08253017 frs-core:NetGoodwill 2023-10-31 08253017 frs-core:NetGoodwill 2022-11-01 2023-10-31 08253017 frs-core:NetGoodwill 2022-10-31 08253017 frs-core:MotorVehicles 2022-11-01 2023-10-31 08253017 frs-core:PlantMachinery 2023-10-31 08253017 frs-core:PlantMachinery 2022-11-01 2023-10-31 08253017 frs-core:PlantMachinery 2022-10-31 08253017 frs-core:ShareCapital 2023-10-31 08253017 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08253017 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08253017 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08253017 frs-bus:SmallEntities 2022-11-01 2023-10-31 08253017 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08253017 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08253017 frs-bus:Director1 2022-11-01 2023-10-31 08253017 frs-countries:EnglandWales 2022-11-01 2023-10-31 08253017 2021-10-31 08253017 2022-10-31 08253017 2021-11-01 2022-10-31 08253017 frs-core:CurrentFinancialInstruments 2022-10-31 08253017 frs-core:Non-currentFinancialInstruments 2022-10-31 08253017 frs-core:ShareCapital 2022-10-31 08253017 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 08253017
Crocodile Antiques Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 08253017
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,953 3,937
2,953 3,937
CURRENT ASSETS
Stocks 6 103,389 146,223
Debtors 7 248,256 147,842
Cash at bank and in hand 33,161 23,270
384,806 317,335
Creditors: Amounts Falling Due Within One Year 8 (380,039 ) (316,903 )
NET CURRENT ASSETS (LIABILITIES) 4,767 432
TOTAL ASSETS LESS CURRENT LIABILITIES 7,720 4,369
Creditors: Amounts Falling Due After More Than One Year 9 (46,157 ) (65,363 )
NET LIABILITIES (38,437 ) (60,994 )
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement (38,537 ) (61,094 )
SHAREHOLDERS' FUNDS (38,437) (60,994)
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For the year ending 31 October 2023 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 Income Statement.
On behalf of the board
C Ostwald
Director
19 December 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Crocodile Antiques Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08253017 . The registered office is 28 Minchenden Crescent, London, N14 7EL.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In preparing these financial statements the directors have made the following judgements:
- Determined that the accounting policy in place in respect of turnover recognition and measurement is reasonable.
- Determined that the measurement and recognition policies in place in respect of stock are reasonable and appropriate.
2.4. Turnover
Turnover is recognised the the extent that is it probable the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.
Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be reliably measured; 
- it is probable that the company will receive the consideration due under the transaction; and 
- the costs incurred or to be incurred in respect of the transaction can be reliably measured.
2.5. 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 income statement over its estimated economic life of ten years.
2.6. 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 25% reducing balance
2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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2.8. 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.
2.9. Financial Instruments
The company has elected to apply the provisions 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's statement of financial position when the company becomes party to the contractual provisions of the instrument.
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 liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within
one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.10. 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.
2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2022: 24)
25 24
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4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 195,000
As at 31 October 2023 195,000
Amortisation
As at 1 November 2022 195,000
As at 31 October 2023 195,000
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 November 2022 15,000
As at 31 October 2023 15,000
Depreciation
As at 1 November 2022 11,063
Provided during the period 984
As at 31 October 2023 12,047
Net Book Value
As at 31 October 2023 2,953
As at 1 November 2022 3,937
6. Stocks
2023 2022
£ £
Finished goods 103,389 146,223
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,140 2,140
Amounts owed by participating interests 196,716 85,205
Other debtors - 10,497
198,856 97,842
Due after more than one year
Other debtors 49,400 50,000
248,256 147,842
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 299,878 276,560
Bank loans and overdrafts 22,629 24,306
Other creditors 51,529 14,817
Taxation and social security 6,003 1,220
380,039 316,903
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 46,157 65,363
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