Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10179845 Mrs J Tolley Mrs J Tolley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10179845 2023-05-31 10179845 2024-05-31 10179845 2023-06-01 2024-05-31 10179845 frs-core:CurrentFinancialInstruments 2024-05-31 10179845 frs-core:ComputerEquipment 2024-05-31 10179845 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10179845 frs-core:ComputerEquipment 2023-05-31 10179845 frs-core:NetGoodwill 2024-05-31 10179845 frs-core:NetGoodwill 2023-06-01 2024-05-31 10179845 frs-core:NetGoodwill 2023-05-31 10179845 frs-core:PlantMachinery 2024-05-31 10179845 frs-core:PlantMachinery 2023-06-01 2024-05-31 10179845 frs-core:PlantMachinery 2023-05-31 10179845 frs-core:ShareCapital 2024-05-31 10179845 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10179845 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10179845 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10179845 frs-bus:SmallEntities 2023-06-01 2024-05-31 10179845 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10179845 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10179845 frs-bus:Director1 2023-06-01 2024-05-31 10179845 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 10179845 frs-countries:EnglandWales 2023-06-01 2024-05-31 10179845 2022-05-31 10179845 2023-05-31 10179845 2022-06-01 2023-05-31 10179845 frs-core:CurrentFinancialInstruments 2023-05-31 10179845 frs-core:ShareCapital 2023-05-31 10179845 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10179845
Budby Antiques Limited
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: 10179845
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 19,160 22,992
19,160 22,992
CURRENT ASSETS
Debtors 6 14,354 14,354
Cash at bank and in hand 10,084 3,621
24,438 17,975
Creditors: Amounts Falling Due Within One Year 7 (140,381 ) (140,043 )
NET CURRENT ASSETS (LIABILITIES) (115,943 ) (122,068 )
TOTAL ASSETS LESS CURRENT LIABILITIES (96,783 ) (99,076 )
NET LIABILITIES (96,783 ) (99,076 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (96,883 ) (99,176 )
SHAREHOLDERS' FUNDS (96,783) (99,076)
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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 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
Mrs J Tolley
Director
30 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Budby Antiques Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10179845 . The registered office is Apleyhead Lodge North, Clumber Park, Worksop, Notts, S80 3NU.
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
At the 31st May 2024, the company had net liabilities totalling £96,446. The company is reliant on the continued support of the director. The director has confirmed her intention to support the company for at least twelve months from the date of signing the accounts.
On the above basis, the director considers that the accounts should be prepared on a going concern basis.
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. 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 its estimated economic life of 20 years.
2.5. 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 33% straight line
Computer Equipment 33% straight line
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 76,640
As at 31 May 2024 76,640
Amortisation
As at 1 June 2023 53,648
Provided during the period 3,832
As at 31 May 2024 57,480
Net Book Value
As at 31 May 2024 19,160
As at 1 June 2023 22,992
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 13,461 1,061 14,522
As at 31 May 2024 13,461 1,061 14,522
Depreciation
As at 1 June 2023 13,461 1,061 14,522
As at 31 May 2024 13,461 1,061 14,522
Net Book Value
As at 31 May 2024 - - -
As at 1 June 2023 - - -
6. Debtors
2024 2023
£ £
Due within one year
Deferred tax current asset 11,331 11,331
VAT 3,023 3,023
14,354 14,354
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 338 -
Accruals and deferred income 1,200 1,200
Director's loan account 138,843 138,843
140,381 140,043
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5