Acorah Software Products - Accounts Production 16.0.110 false true 31 August 2023 1 September 2022 true No description of principal activity 1 September 2023 31 August 2024 31 August 2024 10906046 Mr Harjinder Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10906046 2023-08-31 10906046 2024-08-31 10906046 2023-09-01 2024-08-31 10906046 frs-core:CurrentFinancialInstruments 2024-08-31 10906046 frs-core:Non-currentFinancialInstruments 2024-08-31 10906046 frs-core:NetGoodwill 2024-08-31 10906046 frs-core:NetGoodwill 2023-09-01 2024-08-31 10906046 frs-core:NetGoodwill 2023-08-31 10906046 frs-core:ShareCapital 2024-08-31 10906046 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 10906046 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10906046 frs-bus:FullAccounts 2023-09-01 2024-08-31 10906046 frs-bus:SmallEntities 2023-09-01 2024-08-31 10906046 frs-bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10906046 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10906046 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-09-01 2024-08-31 10906046 frs-bus:Director1 2023-09-01 2024-08-31 10906046 frs-core:CurrentFinancialInstruments 1 2024-08-31 10906046 frs-countries:EnglandWales 2023-09-01 2024-08-31 10906046 2022-08-31 10906046 2023-08-31 10906046 2022-09-01 2023-08-31 10906046 frs-core:CurrentFinancialInstruments 2023-08-31 10906046 frs-core:Non-currentFinancialInstruments 2023-08-31 10906046 frs-core:ShareCapital 2023-08-31 10906046 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 10906046 frs-core:CurrentFinancialInstruments 1 2023-08-31
Registered number: 10906046
Singh's Shop Ltd
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Director Mr Harjinder Singh
Company Number 10906046
Registered Office 88 Scotts Road
Southall
UB2 5DE
Accountants Dawer and Co
Unit 5 Freehold Industrial Centre
Amberley Way
Hounslow
TW4 6BX
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Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 August 2024.
Directors
The director who held office during the year were as follows:
Mr Harjinder Singh
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Harjinder Singh
Director
10/12/2024
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Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 August 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
10/12/2024
Dawer and Co
Unit 5 Freehold Industrial Centre
Amberley Way
Hounslow
TW4 6BX
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 536,792 536,162
Cost of sales (347,827 ) (339,269 )
GROSS PROFIT 188,965 196,893
Administrative expenses (165,960 ) (176,496 )
OPERATING PROFIT 23,005 20,397
Interest payable and similar charges (2,830 ) (7 )
PROFIT BEFORE TAXATION 20,175 20,390
Tax on Profit (3,833 ) (3,874 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 16,342 16,516
The notes on pages 7 to 9 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 175,000 175,000
175,000 175,000
CURRENT ASSETS
Stocks 5 51,210 39,750
Debtors 6 (100,058 ) -
Cash at bank and in hand 59,072 32,313
10,224 72,063
Creditors: Amounts Falling Due Within One Year 7 (96,811 ) (71,097 )
NET CURRENT ASSETS (LIABILITIES) (86,587 ) 966
TOTAL ASSETS LESS CURRENT LIABILITIES 88,413 175,966
Creditors: Amounts Falling Due After More Than One Year 8 (23,124 ) (114,019 )
NET ASSETS 65,289 61,947
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 65,189 61,847
SHAREHOLDERS' FUNDS 65,289 61,947
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For the year ending 31 August 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Harjinder Singh
Director
10/12/2024
The notes on pages 7 to 9 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Singh's Shop Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10906046 . The registered office is 88 Scotts Road, Southall, UB2 5DE.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. 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 .... years.
2.4. 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.
2.5. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 10)
8 10
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 175,000
As at 31 August 2024 175,000
Net Book Value
As at 31 August 2024 175,000
As at 1 September 2023 175,000
5. Stocks
2024 2023
£ £
Finished goods 51,210 39,750
6. Debtors
2024 2023
£ £
Due within one year
Other debtors (100,701 ) -
Other taxes and social security 1,102 -
(99,599 ) -
Due after more than one year
Trade debtors (459 ) -
(100,058 ) -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,852 46,919
Corporation tax 20,586 11,967
Other taxes and social security - 5,034
VAT 3,942 -
Other creditors - 1,488
YouLend 13,762 -
Accruals and deferred income 40,669 5,689
96,811 71,097
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
VAT - 3,326
Other creditors 23,124 30,728
Directors loan account - 79,965
23,124 114,019
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 9