Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07002605 Jillian Walker Mark Walker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07002605 2023-03-31 07002605 2024-03-31 07002605 2023-04-01 2024-03-31 07002605 frs-core:Non-currentFinancialInstruments 2024-03-31 07002605 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07002605 frs-core:MotorVehicles 2023-04-01 2024-03-31 07002605 frs-core:PlantMachinery 2023-04-01 2024-03-31 07002605 frs-core:ShareCapital 2024-03-31 07002605 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07002605 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07002605 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 07002605 frs-bus:SmallEntities 2023-04-01 2024-03-31 07002605 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07002605 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07002605 frs-bus:Director1 2023-04-01 2024-03-31 07002605 frs-bus:Director2 2023-04-01 2024-03-31 07002605 frs-countries:EnglandWales 2023-04-01 2024-03-31 07002605 2022-03-31 07002605 2023-03-31 07002605 2022-04-01 2023-03-31 07002605 frs-core:Non-currentFinancialInstruments 2023-03-31 07002605 frs-core:ShareCapital 2023-03-31 07002605 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07002605
Home & Gift Outlet Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 07002605
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,635 39,511
39,635 39,511
CURRENT ASSETS
Stocks 105,000 120,000
Debtors 117,498 116,636
Cash at bank and in hand 82,296 42,024
304,794 278,660
Creditors: Amounts Falling Due Within One Year (210,390 ) (207,963 )
NET CURRENT ASSETS (LIABILITIES) 94,404 70,697
TOTAL ASSETS LESS CURRENT LIABILITIES 134,039 110,208
Creditors: Amounts Falling Due After More Than One Year (40,208 ) (44,033 )
NET ASSETS 93,831 66,175
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 93,829 66,173
SHAREHOLDERS' FUNDS 93,831 66,175
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For the year 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 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Jillian Walker
Director
23rd January 2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Home & Gift Outlet Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07002605 . The registered office is Chester High Road, Burton, South Wirral, CH64 8TF.
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. 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 18% reducing balance
Motor Vehicles 18% reducing balance
Fixtures & Fittings 18% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.5. 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 96,550
Additions 11,265
As at 31 March 2024 107,815
Depreciation
As at 1 April 2023 57,039
Provided during the period 11,141
As at 31 March 2024 68,180
Net Book Value
As at 31 March 2024 39,635
As at 1 April 2023 39,511
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 25,000 36,000
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