Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 05528569 Ms Elizabeth Ready Mr Shaun Ready Elizabeth Ready true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05528569 2023-07-31 05528569 2024-07-31 05528569 2023-08-01 2024-07-31 05528569 frs-core:CurrentFinancialInstruments 2024-07-31 05528569 frs-core:Non-currentFinancialInstruments 2024-07-31 05528569 frs-core:ComputerEquipment 2024-07-31 05528569 frs-core:ComputerEquipment 2023-08-01 2024-07-31 05528569 frs-core:ComputerEquipment 2023-07-31 05528569 frs-core:MotorVehicles 2024-07-31 05528569 frs-core:MotorVehicles 2023-08-01 2024-07-31 05528569 frs-core:MotorVehicles 2023-07-31 05528569 frs-core:PlantMachinery 2024-07-31 05528569 frs-core:PlantMachinery 2023-08-01 2024-07-31 05528569 frs-core:PlantMachinery 2023-07-31 05528569 frs-core:ShareCapital 2024-07-31 05528569 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05528569 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05528569 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05528569 frs-bus:SmallEntities 2023-08-01 2024-07-31 05528569 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05528569 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05528569 frs-bus:OrdinaryShareClass2 2023-08-01 2024-07-31 05528569 frs-bus:OrdinaryShareClass2 2024-07-31 05528569 frs-bus:OrdinaryShareClass3 2023-08-01 2024-07-31 05528569 frs-bus:OrdinaryShareClass3 2024-07-31 05528569 1 2023-08-01 2024-07-31 05528569 frs-bus:Director1 2023-08-01 2024-07-31 05528569 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 05528569 frs-countries:EnglandWales 2023-08-01 2024-07-31 05528569 2022-07-31 05528569 2023-07-31 05528569 2022-08-01 2023-07-31 05528569 frs-core:CurrentFinancialInstruments 2023-07-31 05528569 frs-core:Non-currentFinancialInstruments 2023-07-31 05528569 frs-core:ShareCapital 2023-07-31 05528569 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 05528569 frs-bus:OrdinaryShareClass2 2022-08-01 2023-07-31 05528569 frs-bus:OrdinaryShareClass3 2022-08-01 2023-07-31
Registered number: 05528569
Independent Sewing Services Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Ben Elliott Accounting Ltd
51 Field Drive
Shirebrook
Mansfield
Notts
NG20 8BT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05528569
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,333 1,394
1,333 1,394
CURRENT ASSETS
Stocks 5 6,000 4,500
Debtors 6 36,103 40,081
Cash at bank and in hand 895 (3,267 )
42,998 41,314
Creditors: Amounts Falling Due Within One Year 7 (63,824 ) (57,053 )
NET CURRENT ASSETS (LIABILITIES) (20,826 ) (15,739 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,493 ) (14,345 )
Creditors: Amounts Falling Due After More Than One Year 8 (20,151 ) (22,200 )
NET LIABILITIES (39,644 ) (36,545 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (39,744 ) (36,645 )
SHAREHOLDERS' FUNDS (39,644) (36,545)
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Page 2
For the year ending 31 July 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
Ms Elizabeth Ready
Director
7th February 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
Independent Sewing Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05528569 . The registered office is 10 Gisbourne Close, Staveley, Chesterfield, Derbyshire, S43 3JT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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. The director continues to support the company with interest free loans to the company.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 33% Straight line
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.
...CONTINUED
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2.6. 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:
2024 2023
Office and administration 1 1
Manufacturing 1 1
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 4,561 7,410 1,385 13,356
As at 31 July 2024 4,561 7,410 1,385 13,356
Depreciation
As at 1 August 2023 3,295 7,282 1,385 11,962
Provided during the period 29 32 - 61
As at 31 July 2024 3,324 7,314 1,385 12,023
Net Book Value
As at 31 July 2024 1,237 96 - 1,333
As at 1 August 2023 1,266 128 - 1,394
5. Stocks
2024 2023
£ £
Materials 6,000 4,500
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 35,937 39,937
Deferred tax current asset 166 144
36,103 40,081
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,427 6,428
VAT 1,878 1,036
Accruals and deferred income 400 400
Director's loan account 57,119 49,189
63,824 57,053
Mortgage or charge:
Lloyds Bank plc, the provider of invoice factoring to the company applied for a charge on the companies assets. This was registered with Companies House 9 November 2005 to ensure that all monies owing through factoring be repaid as secured loans.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,151 22,200
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
80 Ordinary A shares of £ 1 each 80 80
20 Ordinary B shares of £ 1 each 20 20
100 100
10. Ultimate Controlling Party
The company's ultimate controlling party is Elizabeth Ready by virtue of her ownership of 80% of the issued share capital in the company.
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