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 12580489 Mr George Taylor Mr Ethan Taylor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12580489 2023-04-30 12580489 2024-04-30 12580489 2023-05-01 2024-04-30 12580489 frs-core:CurrentFinancialInstruments 2024-04-30 12580489 frs-core:ShareCapital 2024-04-30 12580489 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 12580489 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12580489 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 12580489 frs-bus:SmallEntities 2023-05-01 2024-04-30 12580489 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12580489 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 12580489 frs-bus:Director1 2023-05-01 2024-04-30 12580489 frs-bus:Director2 2023-05-01 2024-04-30 12580489 frs-countries:EnglandWales 2023-05-01 2024-04-30 12580489 2022-04-30 12580489 2023-04-30 12580489 2022-05-01 2023-04-30 12580489 frs-core:CurrentFinancialInstruments 2023-04-30 12580489 frs-core:ShareCapital 2023-04-30 12580489 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 12580489
E Taylor Consulting 2023 Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12580489
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 4,400,000 3,362,522
Debtors 5 594,657 995
Cash at bank and in hand 39,280 482
5,033,937 3,363,999
Creditors: Amounts Falling Due Within One Year 6 (5,036,456 ) (3,364,069 )
NET CURRENT ASSETS (LIABILITIES) (2,519 ) (70 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,519 ) (70 )
NET LIABILITIES (2,519 ) (70 )
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account (2,529 ) (80 )
SHAREHOLDERS' FUNDS (2,519) (70)
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 George Taylor
Director
29/01/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
E Taylor Consulting 2023 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12580489 . The registered office is Ate Farms, Moorbarns Lane, Lutterworth, Leicestershire, LE17 4JD.
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. Stocks and Work in Progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognized as an impairment loss in profit or loss. Reversals of impairment losses are also recognized in profit or loss.   
2.4. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.
Financial instruments are recognized in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.
...CONTINUED
Page 2
Page 3
2.4. Financial Instruments - continued
Debt instruments are subsequently carried at amortized cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognized initially at transaction price and subsequently measured at amortized cost using the effective interest method.
2.5. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three month or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.6. Equity Instruments
Equity Instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognized as liabilities once they are no longer at the discretion of the company.
2.7. Employee benefits
The cost of short-term employee benefits are recognized as a liability and an expense, unless these costs are requried to be recognized as a part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognized in the period in which the employee's services are received.
Termination benefits are recognized immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Stocks
2024 2023
£ £
Work in progress 4,400,000 3,362,522
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 514,382 -
Prepayments and accrued income 4,511 -
Other debtors 68,065 -
VAT 7,689 985
Called up share capital not paid 10 10
594,657 995
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 341,688 12,149
Bank loans and overdrafts 1,900,027 -
Accruals and deferred income 2,500 -
Amounts owed to parent undertaking 192,330 351,820
Amounts owed to related parties 2,599,911 3,000,100
5,036,456 3,364,069
Other creditors totalling to £30,00,000 (2023-£NIL) are secured by fixed and floating charges over the assets of the business.
7. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 10 10
Amount of Allotted, Called Up Share Capital 10 10
Page 4