Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 13087726 Mr Liam Duffy Mr David Moran iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13087726 2022-12-31 13087726 2023-12-31 13087726 2023-01-01 2023-12-31 13087726 frs-core:CurrentFinancialInstruments 2023-12-31 13087726 frs-core:Non-currentFinancialInstruments 2023-12-31 13087726 frs-core:MotorVehicles 2023-12-31 13087726 frs-core:MotorVehicles 2023-01-01 2023-12-31 13087726 frs-core:MotorVehicles 2022-12-31 13087726 frs-core:ShareCapital 2023-12-31 13087726 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13087726 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13087726 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13087726 frs-bus:SmallEntities 2023-01-01 2023-12-31 13087726 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13087726 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13087726 frs-bus:Director1 2023-01-01 2023-12-31 13087726 frs-bus:Director2 2023-01-01 2023-12-31 13087726 frs-core:CurrentFinancialInstruments 1 2023-12-31 13087726 frs-countries:EnglandWales 2023-01-01 2023-12-31 13087726 2021-12-31 13087726 2022-12-31 13087726 2022-01-01 2022-12-31 13087726 frs-core:CurrentFinancialInstruments 2022-12-31 13087726 frs-core:Non-currentFinancialInstruments 2022-12-31 13087726 frs-core:ShareCapital 2022-12-31 13087726 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13087726 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 13087726
Explore Tiling and Flooring Limited
Financial Statements
For The Year Ended 31 December 2023
Resolve Corporate Ltd
11 Garden Court
Tewin Road
Welwyn Garden City
Hertfordshire
AL7 1BH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13087726
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,476 21,845
17,476 21,845
CURRENT ASSETS
Stocks 5 1,335,736 513,520
Debtors 6 268,359 449,401
Cash at bank and in hand 85,171 53,235
1,689,266 1,016,156
Creditors: Amounts Falling Due Within One Year 7 (824,768 ) (424,660 )
NET CURRENT ASSETS (LIABILITIES) 864,498 591,496
TOTAL ASSETS LESS CURRENT LIABILITIES 881,974 613,341
Creditors: Amounts Falling Due After More Than One Year 8 (649,869 ) (505,371 )
NET ASSETS 232,105 107,970
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 231,105 106,970
SHAREHOLDERS' FUNDS 232,105 107,970
Page 1
Page 2
For the year ending 31 December 2023 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 Liam Duffy
Director
11th February 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
Explore Tiling and Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13087726 . The registered office is 344 - 354 Gray's Inn Road, London, WC1X 8BP.
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. 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:
Motor Vehicles 20% Reducing balance
2.4. 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.
2.5. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 7 (2022: 5)
7 5
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 January 2023 22,995
As at 31 December 2023 22,995
Depreciation
As at 1 January 2023 1,150
Provided during the period 4,369
As at 31 December 2023 5,519
Net Book Value
As at 31 December 2023 17,476
As at 1 January 2023 21,845
5. Stocks
2023 2022
£ £
Work in progress 1,335,736 513,520
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 252,474 322,148
Prepayments and accrued income 2,510 7,575
Other debtors 13,375 10,000
VAT - 109,678
268,359 449,401
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 694,498 358,938
Corporation tax 70,065 25,841
Other taxes and social security 1,595 1,139
VAT 10,895 -
Net wages 3,879 -
PAYE (Current liabilities - creditors < 1 year) 22,981 36,942
Accruals and deferred income 20,855 1,800
824,768 424,660
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to related parties 649,869 505,371
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
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