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 05932547 Mrs Shindo Garcha Mr Ravinder Garcha Mr Bir Garcha Mr Ajaib Garcha Mr Ajaib Garcha iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05932547 2023-04-30 05932547 2024-04-30 05932547 2023-05-01 2024-04-30 05932547 frs-core:CurrentFinancialInstruments 2024-04-30 05932547 frs-core:Non-currentFinancialInstruments 2024-04-30 05932547 frs-core:NetGoodwill 2024-04-30 05932547 frs-core:NetGoodwill 2023-05-01 2024-04-30 05932547 frs-core:NetGoodwill 2023-04-30 05932547 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 05932547 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 05932547 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 05932547 frs-core:MotorVehicles 2024-04-30 05932547 frs-core:MotorVehicles 2023-05-01 2024-04-30 05932547 frs-core:MotorVehicles 2023-04-30 05932547 frs-core:PlantMachinery 2024-04-30 05932547 frs-core:PlantMachinery 2023-05-01 2024-04-30 05932547 frs-core:PlantMachinery 2023-04-30 05932547 frs-core:ShareCapital 2024-04-30 05932547 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05932547 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05932547 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05932547 frs-bus:SmallEntities 2023-05-01 2024-04-30 05932547 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05932547 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05932547 frs-bus:Director1 2023-05-01 2024-04-30 05932547 frs-bus:Director2 2023-05-01 2024-04-30 05932547 frs-bus:Director3 2023-05-01 2024-04-30 05932547 frs-bus:Director4 2023-05-01 2024-04-30 05932547 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 05932547 frs-countries:EnglandWales 2023-05-01 2024-04-30 05932547 2022-04-30 05932547 2023-04-30 05932547 2022-05-01 2023-04-30 05932547 frs-core:CurrentFinancialInstruments 2023-04-30 05932547 frs-core:Non-currentFinancialInstruments 2023-04-30 05932547 frs-core:ShareCapital 2023-04-30 05932547 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05932547
Spend N Save Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05932547
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 246,864 225,103
246,864 225,103
CURRENT ASSETS
Stocks 6 155,500 145,500
Debtors 7 235,483 165,070
Cash at bank and in hand 239,500 404,812
630,483 715,382
Creditors: Amounts Falling Due Within One Year 8 (254,166 ) (341,834 )
NET CURRENT ASSETS (LIABILITIES) 376,317 373,548
TOTAL ASSETS LESS CURRENT LIABILITIES 623,181 598,651
Creditors: Amounts Falling Due After More Than One Year 9 (34,083 ) (53,934 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (1,268 ) (3,509 )
NET ASSETS 587,830 541,208
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 587,730 541,108
SHAREHOLDERS' FUNDS 587,830 541,208
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 Ravinder Garcha
Director
09/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Spend N Save Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05932547. The registered office is Office 1, 21 Hatherton Street, Walsall, WS4 2LA.
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over five years.
2.4. 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:
Freehold No Depreciation
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
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.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 35)
33 35
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 480,000
As at 30 April 2024 480,000
Amortisation
As at 1 May 2023 480,000
As at 30 April 2024 480,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 May 2023 145,937 93,994 106,932 346,863
Additions - 2,746 47,945 50,691
As at 30 April 2024 145,937 96,740 154,877 397,554
Depreciation
As at 1 May 2023 - 61,393 60,367 121,760
Provided during the period - 5,302 23,628 28,930
As at 30 April 2024 - 66,695 83,995 150,690
Net Book Value
As at 30 April 2024 145,937 30,045 70,882 246,864
As at 1 May 2023 145,937 32,601 46,565 225,103
6. Stocks
2024 2023
£ £
Finished goods 155,500 145,500
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 235,483 165,070
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 99,804 110,180
Bank loans and overdrafts 10,648 10,648
Other creditors 102,846 114,887
Taxation and social security 40,868 106,119
254,166 341,834
Bank loans and overdraft are secured.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 34,083 53,934
Bank loans are secured and repaid in instalments.
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,268 3,509
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 40,000 40,000
All dividend payments are distributed amongst the four directors who are equal shareholders in the company.
Page 5
Page 6
13. Related Party Transactions
As of 30 April 2024, the company was owed £212,711 (2023 - £155,906) by Spend N Save Leic Limited.
The loan is repayable on demand.
The majority of Directors were also the Directors of Spend N Save Leic Limited as of 30 April 2024.
Page 6