Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09062825 Mr Guy William Bruce Lambert Mr Anthony Michael Brimelow Mrs Martha Silcott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09062825 2023-05-31 09062825 2024-05-31 09062825 2023-06-01 2024-05-31 09062825 frs-core:CurrentFinancialInstruments 2024-05-31 09062825 frs-core:Non-currentFinancialInstruments 2024-05-31 09062825 frs-core:ComputerEquipment 2024-05-31 09062825 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09062825 frs-core:ComputerEquipment 2023-05-31 09062825 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 09062825 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09062825 frs-core:OtherResidualIntangibleAssets 2024-05-31 09062825 frs-core:OtherResidualIntangibleAssets 2023-06-01 2024-05-31 09062825 frs-core:OtherResidualIntangibleAssets 2023-05-31 09062825 frs-core:PlantMachinery 2024-05-31 09062825 frs-core:PlantMachinery 2023-06-01 2024-05-31 09062825 frs-core:PlantMachinery 2023-05-31 09062825 frs-core:SharePremium 2024-05-31 09062825 frs-core:ShareCapital 2024-05-31 09062825 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09062825 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09062825 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09062825 frs-bus:SmallEntities 2023-06-01 2024-05-31 09062825 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09062825 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09062825 frs-bus:Director1 2023-06-01 2024-05-31 09062825 frs-bus:Director2 2023-06-01 2024-05-31 09062825 frs-bus:Director3 2023-06-01 2024-05-31 09062825 frs-countries:EnglandWales 2023-06-01 2024-05-31 09062825 2022-05-31 09062825 2023-05-31 09062825 2022-06-01 2023-05-31 09062825 frs-core:CurrentFinancialInstruments 2023-05-31 09062825 frs-core:Non-currentFinancialInstruments 2023-05-31 09062825 frs-core:SharePremium 2023-05-31 09062825 frs-core:ShareCapital 2023-05-31 09062825 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09062825
Loopeeze Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09062825
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 659 1,319
Tangible Assets 5 616 2,154
1,275 3,473
CURRENT ASSETS
Stocks 6 146,224 179,809
Debtors 7 66,505 73,643
Cash at bank and in hand 147,195 81,484
359,924 334,936
Creditors: Amounts Falling Due Within One Year 8 (49,522 ) (58,341 )
NET CURRENT ASSETS (LIABILITIES) 310,402 276,595
TOTAL ASSETS LESS CURRENT LIABILITIES 311,677 280,068
Creditors: Amounts Falling Due After More Than One Year 9 (71,429 ) (91,737 )
NET ASSETS 240,248 188,331
CAPITAL AND RESERVES
Called up share capital 10 132 132
Share premium account 578,427 578,427
Profit and Loss Account (338,311 ) (390,228 )
SHAREHOLDERS' FUNDS 240,248 188,331
Page 1
Page 2
For the year ending 31 May 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 Martha Silcott
Director
30th August 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
Loopeeze Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09062825 . The registered office is 124 City Road, London, EC1V 2NX.
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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents and trademarks. They are amortised to profit and loss account over its estimated economic life of 7 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:
Plant & Machinery 20% Straight line
Fixtures & Fittings 10% Straight line
Computer Equipment 25% Straight line
2.5. 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account 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: 3 (2023: 3)
3 3
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 32,615
As at 31 May 2024 32,615
Amortisation
As at 1 June 2023 31,296
Provided during the period 660
As at 31 May 2024 31,956
Net Book Value
As at 31 May 2024 659
As at 1 June 2023 1,319
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 7,454 2,863 10,317
As at 31 May 2024 7,454 2,863 10,317
Depreciation
As at 1 June 2023 5,987 2,176 8,163
Provided during the period 1,195 343 1,538
As at 31 May 2024 7,182 2,519 9,701
Net Book Value
As at 31 May 2024 272 344 616
As at 1 June 2023 1,467 687 2,154
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Page 5
6. Stocks
2024 2023
£ £
Stock 146,224 179,809
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 60,710 69,892
Other debtors 5,795 3,751
66,505 73,643
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39,770 36,136
Bank loans and overdrafts - 5,400
Other taxes and social security 8,151 10,083
Other creditors 1,601 6,722
49,522 58,341
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 36,592 36,801
Other creditors 34,837 54,936
71,429 91,737
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 132 132
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