Acorah Software Products - Accounts Production 16.1.300 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 06398364 Mr Andrew Lydon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06398364 2023-10-31 06398364 2024-10-31 06398364 2023-11-01 2024-10-31 06398364 frs-core:CurrentFinancialInstruments 2024-10-31 06398364 frs-core:Non-currentFinancialInstruments 2024-10-31 06398364 frs-core:ComputerEquipment 2024-10-31 06398364 frs-core:ComputerEquipment 2023-11-01 2024-10-31 06398364 frs-core:ComputerEquipment 2023-10-31 06398364 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 06398364 frs-core:FurnitureFittings 2024-10-31 06398364 frs-core:FurnitureFittings 2023-11-01 2024-10-31 06398364 frs-core:FurnitureFittings 2023-10-31 06398364 frs-core:OtherResidualIntangibleAssets 2024-10-31 06398364 frs-core:OtherResidualIntangibleAssets 2023-11-01 2024-10-31 06398364 frs-core:OtherResidualIntangibleAssets 2023-10-31 06398364 frs-core:PlantMachinery 2024-10-31 06398364 frs-core:PlantMachinery 2023-11-01 2024-10-31 06398364 frs-core:PlantMachinery 2023-10-31 06398364 frs-core:ShareCapital 2024-10-31 06398364 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 06398364 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06398364 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 06398364 frs-bus:SmallEntities 2023-11-01 2024-10-31 06398364 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 06398364 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06398364 frs-bus:Director1 2023-11-01 2024-10-31 06398364 frs-countries:EnglandWales 2023-11-01 2024-10-31 06398364 2022-10-31 06398364 2023-10-31 06398364 2022-11-01 2023-10-31 06398364 frs-core:CurrentFinancialInstruments 2023-10-31 06398364 frs-core:Non-currentFinancialInstruments 2023-10-31 06398364 frs-core:ShareCapital 2023-10-31 06398364 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 06398364
Footstools Direct Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 06398364
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 1,250
Tangible Assets 5 2,266 1,169
2,266 2,419
CURRENT ASSETS
Stocks 79,969 55,027
Debtors 6 4,075 4,941
Cash at bank and in hand 248 3,475
84,292 63,443
Creditors: Amounts Falling Due Within One Year 7 (19,862 ) (19,470 )
NET CURRENT ASSETS (LIABILITIES) 64,430 43,973
TOTAL ASSETS LESS CURRENT LIABILITIES 66,696 46,392
Creditors: Amounts Falling Due After More Than One Year 8 (93,657 ) (78,942 )
NET LIABILITIES (26,961 ) (32,550 )
CAPITAL AND RESERVES
Called up share capital 9 500 500
Income Statement (27,461 ) (33,050 )
SHAREHOLDERS' FUNDS (26,961) (32,550)
Page 1
Page 2
For the year ending 31 October 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 Income Statement.
On behalf of the board
Mr Andrew Lydon
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
Footstools Direct Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06398364 . The registered office is The Octagon, Wells Road, Ilkley, West Yorkshire, LS29 9JB.
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
When preparing the financial statements, the director has made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the director has no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the director has taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue. The director is committed to the success of the company in the following twelve months, and where necessary will endeavour to support the company with all means at his disposal to ensure its continuity. Therefore the director still believes it is appropriate to prepare the accounts 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relating to website design and development are measured at cost less accumulated amortisation. Amortisation is charged to the income statement over the assets' estimated economic life of 3 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 20% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33 % on cost
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
2.7. 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 year 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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2.7. 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 asset reflects 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 November 2023 5,000
Disposals (5,000 )
As at 31 October 2024 -
Amortisation
As at 1 November 2023 3,750
Provided during the period 1,250
Disposals (5,000 )
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 1,250
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 167 1,499 628 2,294
Additions - 200 1,274 1,474
As at 31 October 2024 167 1,699 1,902 3,768
Depreciation
As at 1 November 2023 71 795 259 1,125
Provided during the period 19 116 242 377
As at 31 October 2024 90 911 501 1,502
Net Book Value
As at 31 October 2024 77 788 1,401 2,266
As at 1 November 2023 96 704 369 1,169
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,075 4,941
4,075 4,941
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,767 6,579
Bank loans and overdrafts 6,508 8,312
Other creditors 1,521 94
Taxation and social security 2,066 4,485
19,862 19,470
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 136 3,744
Other creditors 93,521 75,198
93,657 78,942
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 500 500
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