Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05342925 Mr Ian Barton Mr Michael Warne iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05342925 2023-06-30 05342925 2024-06-30 05342925 2023-07-01 2024-06-30 05342925 frs-core:CurrentFinancialInstruments 2024-06-30 05342925 frs-core:BetweenOneFiveYears 2024-06-30 05342925 frs-core:FurnitureFittings 2024-06-30 05342925 frs-core:FurnitureFittings 2023-07-01 2024-06-30 05342925 frs-core:FurnitureFittings 2023-06-30 05342925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 05342925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 05342925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 05342925 frs-core:PlantMachinery 2024-06-30 05342925 frs-core:PlantMachinery 2023-07-01 2024-06-30 05342925 frs-core:PlantMachinery 2023-06-30 05342925 frs-core:ShareCapital 2024-06-30 05342925 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05342925 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05342925 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05342925 frs-bus:SmallEntities 2023-07-01 2024-06-30 05342925 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05342925 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05342925 frs-bus:Director1 2023-07-01 2024-06-30 05342925 frs-bus:Director2 2023-07-01 2024-06-30 05342925 frs-countries:EnglandWales 2023-07-01 2024-06-30 05342925 2022-06-30 05342925 2023-06-30 05342925 2022-07-01 2023-06-30 05342925 frs-core:CurrentFinancialInstruments 2023-06-30 05342925 frs-core:BetweenOneFiveYears 2023-06-30 05342925 frs-core:ShareCapital 2023-06-30 05342925 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05342925
Funplex Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05342925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,166 14,493
19,166 14,493
CURRENT ASSETS
Stocks 5 4,050 4,600
Debtors 6 6,340 5,454
Cash at bank and in hand 76,994 77,244
87,384 87,298
Creditors: Amounts Falling Due Within One Year 7 (10,510 ) (18,962 )
NET CURRENT ASSETS (LIABILITIES) 76,874 68,336
TOTAL ASSETS LESS CURRENT LIABILITIES 96,040 82,829
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,955 ) (2,478 )
NET ASSETS 92,085 80,351
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 91,985 80,251
SHAREHOLDERS' FUNDS 92,085 80,351
Page 1
Page 2
For the year ending 30 June 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 Ian Barton
Director
06/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Funplex Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05342925 . The registered office is Suite C2 Horsted Keynes Business Park, Cinder Hill Lane, Horsted Keynes, West Sussex, RH17 7BA.
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
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. 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:
Leasehold 15 years straight line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
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.
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. 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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 11 11
11 11
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 27,722 235,675 22,909 286,306
Additions - 11,063 - 11,063
As at 30 June 2024 27,722 246,738 22,909 297,369
Depreciation
As at 1 July 2023 27,722 221,712 22,379 271,813
Provided during the period - 6,257 133 6,390
As at 30 June 2024 27,722 227,969 22,512 278,203
Net Book Value
As at 30 June 2024 - 18,769 397 19,166
As at 1 July 2023 - 13,963 530 14,493
5. Stocks
2024 2023
£ £
Finished goods 4,050 4,600
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,469 2,272
Other taxes and social security 2,871 3,182
6,340 5,454
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Corporation tax 4,756 12,536
VAT 3,345 3,533
Other creditors 105 128
Accruals and deferred income 2,305 2,765
10,510 18,962
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 34,000 34,000
34,000 34,000
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