Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 05081471 Mr Carl Waterfield Mr Gary Waterfield Mr Gary Waterfield Mr G Waterfield and Mr C Waterfield true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05081471 2023-04-30 05081471 2024-04-30 05081471 2023-05-01 2024-04-30 05081471 frs-core:CurrentFinancialInstruments 2024-04-30 05081471 frs-core:Non-currentFinancialInstruments 2024-04-30 05081471 frs-core:BetweenOneFiveYears 2024-04-30 05081471 frs-core:NetGoodwill 2024-04-30 05081471 frs-core:NetGoodwill 2023-05-01 2024-04-30 05081471 frs-core:NetGoodwill 2023-04-30 05081471 frs-core:PlantMachinery 2024-04-30 05081471 frs-core:PlantMachinery 2023-05-01 2024-04-30 05081471 frs-core:PlantMachinery 2023-04-30 05081471 frs-core:WithinOneYear 2024-04-30 05081471 frs-core:ShareCapital 2024-04-30 05081471 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05081471 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05081471 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05081471 frs-bus:SmallEntities 2023-05-01 2024-04-30 05081471 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05081471 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05081471 1 2023-05-01 2024-04-30 05081471 frs-bus:Director1 2023-05-01 2024-04-30 05081471 frs-bus:Director2 2023-05-01 2024-04-30 05081471 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 05081471 frs-countries:EnglandWales 2023-05-01 2024-04-30 05081471 2022-04-30 05081471 2023-04-30 05081471 2022-05-01 2023-04-30 05081471 frs-core:CurrentFinancialInstruments 2023-04-30 05081471 frs-core:Non-currentFinancialInstruments 2023-04-30 05081471 frs-core:BetweenOneFiveYears 2023-04-30 05081471 frs-core:WithinOneYear 2023-04-30 05081471 frs-core:ShareCapital 2023-04-30 05081471 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05081471
A Waterfield & Sons Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05081471
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 5,000
Tangible Assets 5 251,023 229,509
251,023 234,509
CURRENT ASSETS
Stocks 6 128,268 267,780
Debtors 7 440,291 274,862
Cash at bank and in hand 25,631 57,182
594,190 599,824
Creditors: Amounts Falling Due Within One Year 8 (484,984 ) (587,096 )
NET CURRENT ASSETS (LIABILITIES) 109,206 12,728
TOTAL ASSETS LESS CURRENT LIABILITIES 360,229 247,237
Creditors: Amounts Falling Due After More Than One Year 9 (27,169 ) (17,506 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (62,756 ) (43,069 )
NET ASSETS 270,304 186,662
CAPITAL AND RESERVES
Called up share capital 12 2 2
Profit and Loss Account 270,302 186,660
SHAREHOLDERS' FUNDS 270,304 186,662
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For the year ending 30 April 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 Carl Waterfield
Director
Mr Gary Waterfield
Director
18/12/2024
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
A Waterfield & Sons Limited Registered number 05081471 is a limited by shares company incorporated in England & Wales. The Registered Office is Waterfields Yard, Bungay Road, Scole, Diss, Norfolk, IP21 4DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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% reducing balance
2.5. 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 profit and loss account 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 profit and loss account as incurred.
2.6. 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.
2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
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2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 15)
23 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 100,000
As at 30 April 2024 100,000
Amortisation
As at 1 May 2023 95,000
Provided during the period 5,000
As at 30 April 2024 100,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 5,000
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 May 2023 851,080
Additions 124,305
Disposals (20,400 )
As at 30 April 2024 954,985
Depreciation
As at 1 May 2023 621,571
Provided during the period 86,764
Disposals (4,373 )
As at 30 April 2024 703,962
Net Book Value
As at 30 April 2024 251,023
As at 1 May 2023 229,509
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6. Stocks
2024 2023
£ £
Materials 37,057 53,000
Work in progress 91,211 214,780
128,268 267,780
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 421,973 274,862
VAT 18,318 -
440,291 274,862
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,105 24,797
Trade creditors 384,962 480,810
Bank loans and overdrafts 4,264 9,538
Corporation tax 48,523 13,472
Other taxes and social security 24,103 18,640
VAT - 33,727
Accruals and deferred income 3,336 3,214
Directors' loan accounts 3,691 2,898
484,984 587,096
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,099 9,173
Bank loans 4,070 8,333
27,169 17,506
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,105 24,797
Later than one year and not later than five years 23,099 9,173
39,204 33,970
39,204 33,970
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 62,756 43,069
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
13. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Carl Waterfield 27,000 30,250
Mr Gary Waterfield 27,000 30,250
14. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 54,000 60,500
15. Ultimate Controlling Party
Mr G Waterfield and Mr C Waterfield have joint control over the company by virtue of their ownership of 100% of the issued share capital.
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