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Registered number: 14048732
The Luxury Home Staging Company Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Starfish Accounting Ltd
ICAEW
The Bowler Barn
Bartletts Court
Littlewick Green
Berkshire
SL6 3RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14048732
30 April 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,298 4,961
3,298 4,961
CURRENT ASSETS
Stocks 5 24,272 51,468
Debtors 6 450 2,309
Cash at bank and in hand 4,177 11,790
28,899 65,567
Creditors: Amounts Falling Due Within One Year 7 (64,548 ) (95,208 )
NET CURRENT ASSETS (LIABILITIES) (35,649 ) (29,641 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,351 ) (24,680 )
NET LIABILITIES (32,351 ) (24,680 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (32,451 ) (24,780 )
SHAREHOLDERS' FUNDS (32,351) (24,680)
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Sarah Stoker
Director
15/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Luxury Home Staging Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14048732 . The registered office is The Bowler Barn, Bartletts Court, Bath Road, Littlewick Green, Berks, SL6 3RX.
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. Going Concern Disclosure
Although the balance sheet is currently negative, the director has indicated her willingness to support the company for the foreseeable future, a period not anticipated to be less than one year.
2.3. 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.
2.4. 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 25% straight line
Fixtures & Fittings 33% straight line
Computer Equipment 33% 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. 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.
2.8. 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: 4 (2023: 3)
4 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 5,420 460 786 6,666
Additions - 117 - 117
As at 30 April 2024 5,420 577 786 6,783
Depreciation
As at 1 May 2023 1,355 153 197 1,705
Provided during the period 1,355 163 262 1,780
As at 30 April 2024 2,710 316 459 3,485
Net Book Value
As at 30 April 2024 2,710 261 327 3,298
As at 1 May 2023 4,065 307 589 4,961
5. Stocks
30 April 2024 30 April 2023
£ £
Stock 24,272 51,468
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6. Debtors
30 April 2024 30 April 2023
£ £
Due within one year
Other debtors 450 2,309
7. Creditors: Amounts Falling Due Within One Year
30 April 2024 30 April 2023
£ £
Trade creditors - 7,510
Other loans - 10,000
Other taxes and social security 56,240 12,744
Other creditors 8,308 64,954
64,548 95,208
8. Share Capital
30 April 2024 30 April 2023
£ £
Allotted, Called up and fully paid 100 100
9. Ultimate Controlling Party
The company's ultimate controlling party is Sarah Stoker by virtue of her ownership of 90% of the issued share capital in the company.
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