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 05094146 Mrs Emma Emmerson Mr James Emmerson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05094146 2023-04-30 05094146 2024-04-30 05094146 2023-05-01 2024-04-30 05094146 frs-core:CurrentFinancialInstruments 2024-04-30 05094146 frs-core:Non-currentFinancialInstruments 2024-04-30 05094146 frs-core:ComputerEquipment 2024-04-30 05094146 frs-core:ComputerEquipment 2023-05-01 2024-04-30 05094146 frs-core:ComputerEquipment 2023-04-30 05094146 frs-core:FurnitureFittings 2024-04-30 05094146 frs-core:FurnitureFittings 2023-05-01 2024-04-30 05094146 frs-core:FurnitureFittings 2023-04-30 05094146 frs-core:MotorVehicles 2024-04-30 05094146 frs-core:MotorVehicles 2023-05-01 2024-04-30 05094146 frs-core:MotorVehicles 2023-04-30 05094146 frs-core:PlantMachinery 2024-04-30 05094146 frs-core:PlantMachinery 2023-05-01 2024-04-30 05094146 frs-core:PlantMachinery 2023-04-30 05094146 frs-core:ShareCapital 2024-04-30 05094146 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05094146 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05094146 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05094146 frs-bus:SmallEntities 2023-05-01 2024-04-30 05094146 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05094146 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05094146 frs-bus:Director1 2023-05-01 2024-04-30 05094146 frs-bus:Director2 2023-05-01 2024-04-30 05094146 frs-countries:EnglandWales 2023-05-01 2024-04-30 05094146 2022-04-30 05094146 2023-04-30 05094146 2022-05-01 2023-04-30 05094146 frs-core:CurrentFinancialInstruments 2023-04-30 05094146 frs-core:Non-currentFinancialInstruments 2023-04-30 05094146 frs-core:ShareCapital 2023-04-30 05094146 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05094146
Nineteen Seventy Three Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05094146
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 131,303 95,405
131,303 95,405
CURRENT ASSETS
Stocks 5 20,000 50,000
Debtors 6 134,791 113,545
Cash at bank and in hand 4,643 106,380
159,434 269,925
Creditors: Amounts Falling Due Within One Year 7 (445,111 ) (378,092 )
NET CURRENT ASSETS (LIABILITIES) (285,677 ) (108,167 )
TOTAL ASSETS LESS CURRENT LIABILITIES (154,374 ) (12,762 )
Creditors: Amounts Falling Due After More Than One Year 8 (9,584 ) (18,358 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,910 ) (12,775 )
NET LIABILITIES (180,868 ) (43,895 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (180,878 ) (43,905 )
SHAREHOLDERS' FUNDS (180,868) (43,895)
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
Mrs Emma Emmerson
Director
Mr James Emmerson
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Nineteen Seventy Three Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05094146 . The registered office is Ground Floor 11 North Street, Portslade, Brighton, BN41 1DH.
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:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on 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. 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.
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.
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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 21)
28 21
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 237,495 12,086 55,638 23,736 328,955
Additions 21,554 - 51,070 7,041 79,665
As at 30 April 2024 259,049 12,086 106,708 30,777 408,620
Depreciation
As at 1 May 2023 154,131 11,281 48,441 19,697 233,550
Provided during the period 26,229 201 14,567 2,770 43,767
As at 30 April 2024 180,360 11,482 63,008 22,467 277,317
Net Book Value
As at 30 April 2024 78,689 604 43,700 8,310 131,303
As at 1 May 2023 83,364 805 7,197 4,039 95,405
5. Stocks
2024 2023
£ £
Finished goods 20,000 50,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 134,719 107,780
Other debtors 72 2,500
Corporation tax recoverable assets - 3,265
134,791 113,545
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 50,114 24,849
Bank loans and overdrafts 9,346 9,346
Other taxes and social security 4,666 4,301
VAT 52,274 58,137
Other creditors 5,519 1,339
Accruals and deferred income 2,025 1,850
Directors' loan accounts 6 98
Amounts owed to other participating interests 321,161 278,172
445,111 378,092
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loan 9,584 18,358
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Related Party Transactions
During the year the company received an interest free loan of £42,898 from James Emma & Son Limited, a company in which James Emmerson and Emma Emmerson are both 50% shareholders. The balance of the loan outstanding at the balance sheet date is £321,161 (2023: £278,172)
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