Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10199940 Mr Jonathan Dryden Mr Christopher Lowden Mr Christopher Lowden iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10199940 2023-05-31 10199940 2024-05-31 10199940 2023-06-01 2024-05-31 10199940 frs-core:CurrentFinancialInstruments 2024-05-31 10199940 frs-core:Non-currentFinancialInstruments 2024-05-31 10199940 frs-core:BetweenOneFiveYears 2024-05-31 10199940 frs-core:FurnitureFittings 2024-05-31 10199940 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10199940 frs-core:FurnitureFittings 2023-05-31 10199940 frs-core:PlantMachinery 2023-06-01 2024-05-31 10199940 frs-core:WithinOneYear 2024-05-31 10199940 frs-core:ShareCapital 2024-05-31 10199940 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10199940 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10199940 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10199940 frs-bus:SmallEntities 2023-06-01 2024-05-31 10199940 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10199940 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10199940 frs-bus:Director1 2023-06-01 2024-05-31 10199940 frs-bus:Director2 2023-06-01 2024-05-31 10199940 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 10199940 frs-countries:EnglandWales 2023-06-01 2024-05-31 10199940 2022-05-31 10199940 2023-05-31 10199940 2022-06-01 2023-05-31 10199940 frs-core:CurrentFinancialInstruments 2023-05-31 10199940 frs-core:Non-currentFinancialInstruments 2023-05-31 10199940 frs-core:BetweenOneFiveYears 2023-05-31 10199940 frs-core:WithinOneYear 2023-05-31 10199940 frs-core:ShareCapital 2023-05-31 10199940 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10199940
Blacks Corner Trading Company Ltd
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10199940
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 161,139 47,495
161,139 47,495
CURRENT ASSETS
Stocks 5 45,000 25,000
Debtors 6 1,025 11,477
Cash at bank and in hand 129,827 73,550
175,852 110,027
Creditors: Amounts Falling Due Within One Year 7 (211,848 ) (62,267 )
NET CURRENT ASSETS (LIABILITIES) (35,996 ) 47,760
TOTAL ASSETS LESS CURRENT LIABILITIES 125,143 95,255
Creditors: Amounts Falling Due After More Than One Year 8 (92,730 ) (73,868 )
NET ASSETS 32,413 21,387
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 32,313 21,287
SHAREHOLDERS' FUNDS 32,413 21,387
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For the year ending 31 May 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 Christopher Lowden
Director
01/10/2024
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
Blacks Corner Trading Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10199940 . The registered office is 3 - 4 St Bedes East Boldon, Tyne And Wear, NE36 0LE.
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 15% Straight Line
Fixtures & Fittings 15% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 30)
30 30
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 June 2023 135,176
Additions 140,416
As at 31 May 2024 275,592
Depreciation
As at 1 June 2023 87,681
Provided during the period 26,772
As at 31 May 2024 114,453
Net Book Value
As at 31 May 2024 161,139
As at 1 June 2023 47,495
5. Stocks
2024 2023
£ £
Finished goods 45,000 25,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 500
VAT 251 10,977
Paye account 774 -
1,025 11,477
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,374 6,374
Trade creditors 89,890 29,993
Bank loans and overdrafts 63,597 13,714
Corporation tax 936 10,936
Paye account - 783
Net wages 50,324 -
Pension Payable 727 467
211,848 62,267
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,060 17,694
Bank loans 35,134 35,177
Directors loan account 39,536 20,997
92,730 73,868
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,374 6,374
Later than one year and not later than five years 18,060 17,694
24,434 24,068
24,434 24,068
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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