Acorah Software Products - Accounts Production 16.1.300 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 04484045 Mr KELVIN JONAH iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04484045 2023-01-31 04484045 2024-01-31 04484045 2023-02-01 2024-01-31 04484045 frs-core:CurrentFinancialInstruments 2024-01-31 04484045 frs-core:Non-currentFinancialInstruments 2024-01-31 04484045 frs-core:MotorVehicles 2024-01-31 04484045 frs-core:MotorVehicles 2023-02-01 2024-01-31 04484045 frs-core:MotorVehicles 2023-01-31 04484045 frs-core:PlantMachinery 2024-01-31 04484045 frs-core:PlantMachinery 2023-02-01 2024-01-31 04484045 frs-core:PlantMachinery 2023-01-31 04484045 frs-core:ShareCapital 2024-01-31 04484045 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 04484045 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04484045 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 04484045 frs-bus:SmallEntities 2023-02-01 2024-01-31 04484045 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04484045 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04484045 frs-bus:Director1 2023-02-01 2024-01-31 04484045 frs-countries:EnglandWales 2023-02-01 2024-01-31 04484045 2022-01-31 04484045 2023-01-31 04484045 2022-02-01 2023-01-31 04484045 frs-core:CurrentFinancialInstruments 2023-01-31 04484045 frs-core:Non-currentFinancialInstruments 2023-01-31 04484045 frs-core:ShareCapital 2023-01-31 04484045 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 04484045
S.I. FOODS LTD
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04484045
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,078 40,380
53,078 40,380
CURRENT ASSETS
Stocks 5 320,200 241,900
Debtors 6 39,601 13,120
Cash at bank and in hand 138,278 136,600
498,079 391,620
Creditors: Amounts Falling Due Within One Year 7 (164,439 ) (112,015 )
NET CURRENT ASSETS (LIABILITIES) 333,640 279,605
TOTAL ASSETS LESS CURRENT LIABILITIES 386,718 319,985
Creditors: Amounts Falling Due After More Than One Year 8 (261,719 ) (195,600 )
NET ASSETS 124,999 124,385
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 124,899 124,285
SHAREHOLDERS' FUNDS 124,999 124,385
Page 1
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For the year ending 31 January 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 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 KELVIN JONAH
Director
26/01/2025
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
S.I. FOODS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 04484045 . The registered office is 22-23 ENTERPRISE ROW, RANGEMOOR RD, LONDON, N15 4LU.
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 April 2008).
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. 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 20% reducing balance
Motor Vehicles 20% reducing balance
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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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:
2024 2023
Sales, marketing and distribution 6 6
6 6
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 134,952 86,660 221,612
Additions 21,742 - 21,742
As at 31 January 2024 156,694 86,660 243,354
Depreciation
As at 1 February 2023 112,772 68,460 181,232
Provided during the period 5,404 3,640 9,044
As at 31 January 2024 118,176 72,100 190,276
Net Book Value
As at 31 January 2024 38,518 14,560 53,078
As at 1 February 2023 22,180 18,200 40,380
5. Stocks
2024 2023
£ £
Stock 320,200 241,900
6. Debtors
2024 2023
£ £
Due within one year
VAT 39,601 13,120
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 63,300 62,420
Bank loans and overdrafts 18,600 17,600
Corporation tax 21,751 11,245
Other taxes and social security 2,494 1,870
Other creditors 10,160 280
Accruals and deferred income 21,134 3,600
Director's loan account 27,000 15,000
164,439 112,015
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 261,719 195,600
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 40,000 15,000
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