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 10723046 Mr Jack Spicer iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10723046 2023-04-30 10723046 2024-04-30 10723046 2023-05-01 2024-04-30 10723046 frs-core:CurrentFinancialInstruments 2024-04-30 10723046 frs-core:Non-currentFinancialInstruments 2024-04-30 10723046 frs-core:ComputerEquipment 2024-04-30 10723046 frs-core:ComputerEquipment 2023-05-01 2024-04-30 10723046 frs-core:ComputerEquipment 2023-04-30 10723046 frs-core:FurnitureFittings 2024-04-30 10723046 frs-core:FurnitureFittings 2023-05-01 2024-04-30 10723046 frs-core:FurnitureFittings 2023-04-30 10723046 frs-core:ShareCapital 2024-04-30 10723046 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 10723046 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10723046 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 10723046 frs-bus:SmallEntities 2023-05-01 2024-04-30 10723046 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10723046 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10723046 frs-bus:Director1 2023-05-01 2024-04-30 10723046 frs-countries:EnglandWales 2023-05-01 2024-04-30 10723046 2022-04-30 10723046 2023-04-30 10723046 2022-05-01 2023-04-30 10723046 frs-core:CurrentFinancialInstruments 2023-04-30 10723046 frs-core:Non-currentFinancialInstruments 2023-04-30 10723046 frs-core:ShareCapital 2023-04-30 10723046 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 10723046
Trade House Cars Ltd
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: 10723046
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,284 3,564
4,284 3,564
CURRENT ASSETS
Stocks 5 880,445 670,209
Debtors 6 372,892 215,580
Cash at bank and in hand 136,881 115,384
1,390,218 1,001,173
Creditors: Amounts Falling Due Within One Year 7 (355,590 ) (286,892 )
NET CURRENT ASSETS (LIABILITIES) 1,034,628 714,281
TOTAL ASSETS LESS CURRENT LIABILITIES 1,038,912 717,845
Creditors: Amounts Falling Due After More Than One Year 8 (879,334 ) (574,339 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,071 ) (677 )
NET ASSETS 158,507 142,829
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 157,507 141,829
SHAREHOLDERS' FUNDS 158,507 142,829
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 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 Jack Spicer
Director
30/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Trade House Cars Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10723046 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent , BR8 7PA.
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.
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:
Fixtures & Fittings 15% WDV
Computer Equipment 15% WDV
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 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 in respect of all timing differences that have originated but not reversed at the balance
sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 1,000 5,380 6,380
Additions 332 3,351 3,683
Disposals - (4,223 ) (4,223 )
As at 30 April 2024 1,332 4,508 5,840
Depreciation
As at 1 May 2023 623 2,193 2,816
Provided during the period 107 652 759
Disposals - (2,019 ) (2,019 )
As at 30 April 2024 730 826 1,556
Net Book Value
As at 30 April 2024 602 3,682 4,284
As at 1 May 2023 377 3,187 3,564
5. Stocks
2024 2023
£ £
Stock 880,445 670,209
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 99,496 -
Director's loan account 273,396 215,580
372,892 215,580
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,584 17,237
Bank loans and overdrafts 183,002 124,227
Corporation tax 91,479 49,256
Other taxes and social security 7,702 11,175
VAT 65,823 84,997
355,590 286,892
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 879,334 574,339
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Related Party Transactions
Included in the Other Debtors is an amount owed from the company director Mr J Spicer totalling £273,396 (2023 - £215,580), no interest is to be charged.
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