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 04194351 Mr R Webb Mrs T Wheatcroft - Webb iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04194351 2023-04-30 04194351 2024-04-30 04194351 2023-05-01 2024-04-30 04194351 frs-core:CurrentFinancialInstruments 2024-04-30 04194351 frs-core:Non-currentFinancialInstruments 2024-04-30 04194351 frs-core:FurnitureFittings 2024-04-30 04194351 frs-core:FurnitureFittings 2023-05-01 2024-04-30 04194351 frs-core:FurnitureFittings 2023-04-30 04194351 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04194351 frs-core:PlantMachinery 2024-04-30 04194351 frs-core:PlantMachinery 2023-05-01 2024-04-30 04194351 frs-core:PlantMachinery 2023-04-30 04194351 frs-core:ShareCapital 2024-04-30 04194351 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04194351 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04194351 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04194351 frs-bus:SmallEntities 2023-05-01 2024-04-30 04194351 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04194351 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04194351 frs-bus:Director1 2023-05-01 2024-04-30 04194351 frs-bus:Director2 2023-05-01 2024-04-30 04194351 frs-countries:EnglandWales 2023-05-01 2024-04-30 04194351 2022-04-30 04194351 2023-04-30 04194351 2022-05-01 2023-04-30 04194351 frs-core:CurrentFinancialInstruments 2023-04-30 04194351 frs-core:Non-currentFinancialInstruments 2023-04-30 04194351 frs-core:ShareCapital 2023-04-30 04194351 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 04194351
V8 Developments Limited
Financial Statements
For The Year Ended 30 April 2024
Stoneman Storey Ltd
Chartered Management Accountants
76 Churchfields Road
Folkingham
Sleaford
Lincolnshire
NG34 0TR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04194351
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,814 -
18,814 -
CURRENT ASSETS
Stocks 5 10,000 10,000
Debtors 6 149 27
Cash at Bank 1,689 2,066
11,838 12,093
Creditors: Amounts Falling Due Within One Year 7 (35,205 ) (15,275 )
NET CURRENT ASSETS (LIABILITIES) (23,367 ) (3,182 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,553 ) (3,182 )
Creditors: Amounts Falling Due After More Than One Year 8 (2,500 ) (4,500 )
NET LIABILITIES (7,053 ) (7,682 )
CAPITAL AND RESERVES
Called Up Share Capital 9 2 2
Profit and Loss Account (7,055 ) (7,684 )
SHAREHOLDERS' FUNDS (7,053) (7,682)
Page 1
Page 2
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 R Webb
Director
27/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
V8 Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04194351 . The registered office is Cobwebbs Farm Swale Bank, Gosberton Westhorpe, Spalding, Lincolnshire, PE11 4LG.
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. 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:
Office & Workshop 3% Reducing Balance
Plant & Machinery 20% Reducing Balance
Office & Workshop 3% 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Office & Workshop Total
£ £ £
Cost
As at 1 May 2023 13,376 - 13,376
Additions - 19,395 19,395
As at 30 April 2024 13,376 19,395 32,771
Depreciation
As at 1 May 2023 13,376 - 13,376
Provided during the period - 581 581
As at 30 April 2024 13,376 581 13,957
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 April 2024 - 18,814 18,814
As at 1 May 2023 - - -
5. Stocks
2024 2023
£ £
Stock 10,000 10,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 120 -
Sundry Debtors 29 27
149 27
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 555 424
Bank loans and overdrafts 2,000 2,000
Directors' loan accounts 32,650 12,851
35,205 15,275
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank Loans 2,500 4,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4