Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09793756 Mr Errol Buxton Mr Savvas Michael iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09793756 2023-03-31 09793756 2024-03-31 09793756 2023-04-01 2024-03-31 09793756 frs-core:CurrentFinancialInstruments 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 2024-03-31 09793756 frs-core:FurnitureFittings 2024-03-31 09793756 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09793756 frs-core:FurnitureFittings 2023-03-31 09793756 frs-core:NetGoodwill 2024-03-31 09793756 frs-core:NetGoodwill 2023-04-01 2024-03-31 09793756 frs-core:NetGoodwill 2023-03-31 09793756 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 09793756 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 09793756 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 09793756 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 09793756 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09793756 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 09793756 frs-core:PlantMachinery 2024-03-31 09793756 frs-core:PlantMachinery 2023-04-01 2024-03-31 09793756 frs-core:PlantMachinery 2023-03-31 09793756 frs-core:SharePremium 2024-03-31 09793756 frs-core:ShareCapital 2024-03-31 09793756 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09793756 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09793756 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09793756 frs-bus:SmallEntities 2023-04-01 2024-03-31 09793756 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09793756 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09793756 frs-bus:Director1 2023-04-01 2024-03-31 09793756 frs-bus:Director2 2023-04-01 2024-03-31 09793756 frs-core:CurrentFinancialInstruments 1 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 1 2024-03-31 09793756 frs-core:CurrentFinancialInstruments 2 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 2 2024-03-31 09793756 frs-core:CurrentFinancialInstruments 3 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 3 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 5 2024-03-31 09793756 frs-core:Non-currentFinancialInstruments 6 2024-03-31 09793756 frs-countries:EnglandWales 2023-04-01 2024-03-31 09793756 2022-03-31 09793756 2023-03-31 09793756 2022-04-01 2023-03-31 09793756 frs-core:CurrentFinancialInstruments 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 2023-03-31 09793756 frs-core:SharePremium 2023-03-31 09793756 frs-core:ShareCapital 2023-03-31 09793756 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09793756 frs-core:CurrentFinancialInstruments 1 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 1 2023-03-31 09793756 frs-core:CurrentFinancialInstruments 2 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 2 2023-03-31 09793756 frs-core:CurrentFinancialInstruments 3 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 3 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 5 2023-03-31 09793756 frs-core:Non-currentFinancialInstruments 6 2023-03-31
Registered number: 09793756
Holtwhites Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ascot Sinclair Associates Ltd
Chartered Certified Accountants
Avondale House
262 Uxbridge Road
Hatch End
Middlesex
HA5 4HS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09793756
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 26,288 31,288
Tangible Assets 5 9,943,446 8,239,341
9,969,734 8,270,629
CURRENT ASSETS
Debtors 6 2,240,271 1,757,916
Cash at bank and in hand 20,816 5,516
2,261,087 1,763,432
Creditors: Amounts Falling Due Within One Year 7 (928,804 ) (1,119,271 )
NET CURRENT ASSETS (LIABILITIES) 1,332,283 644,161
TOTAL ASSETS LESS CURRENT LIABILITIES 11,302,017 8,914,790
Creditors: Amounts Falling Due After More Than One Year 8 (4,704,384 ) (2,834,093 )
NET ASSETS 6,597,633 6,080,697
CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium account 3,779,248 3,779,248
Profit and Loss Account 2,818,285 2,301,349
SHAREHOLDERS' FUNDS 6,597,633 6,080,697
Page 1
Page 2
For the year ending 31 March 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 Errol Buxton
Director
Mr Savvas Michael
Director
16/01/2025
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
Holtwhites Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09793756 . The registered office is Avondale House, 262 Uxbrodge Road, Hatch End, Middlesex, HA5 4HS.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years
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:
Freehold no depreciation
Leasehold Straightline over 51 years
Plant & Machinery 25% reducing balancae
Fixtures & Fittings 25% reducing balance
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 47 (2023: 47)
47 47
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 50,000
As at 31 March 2024 50,000
Amortisation
As at 1 April 2023 18,712
Provided during the period 5,000
As at 31 March 2024 23,712
Net Book Value
As at 31 March 2024 26,288
As at 1 April 2023 31,288
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 8,118,411 - 36,773 179,831 8,335,015
Additions 8,770 1,750,000 - - 1,758,770
As at 31 March 2024 8,127,181 1,750,000 36,773 179,831 10,093,785
Depreciation
As at 1 April 2023 - - 16,605 79,069 95,674
Provided during the period - 34,314 5,042 15,309 54,665
As at 31 March 2024 - 34,314 21,647 94,378 150,339
Net Book Value
As at 31 March 2024 8,127,181 1,715,686 15,126 85,453 9,943,446
As at 1 April 2023 8,118,411 - 20,168 100,762 8,239,341
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 289,942 250,667
Prepayments and accrued income 219,522 174,321
Other debtors 7,087 7,087
Net wages - 1,277
516,551 433,352
...CONTINUED
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Page 5
Due after more than one year
Other debtors - Intrer Co - Buckworth Chase Partnership 1,723,720 1,324,564
2,240,271 1,757,916
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 100,063 54,298
Bank loans and overdrafts 133,188 185,981
Corporation tax 397,870 405,397
Other taxes and social security 21,435 20,945
VAT 57,187 61,418
Net wages 11,382 -
Other creditors 4,270 4,282
Loan Note 1-S Michael - Amounts due within one year 39,500 182,000
Loan Note 2-EPB buxton - Amounts due wihtin one year 39,500 182,000
Other creditors - pension liability 4,647 -
Accruals and deferred income 23,000 12,050
Directors' loan accounts 96,762 10,900
928,804 1,119,271
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 482,800 -
Other creditors - Inter Co - PCCH 1,790,102 403,748
Other creditors - Rosegem Ltd 903 1,403
Other creditors - Reliance 5,900 4,263
Other creditors - Loan Note 1 - S Michael - falling due after 1 year 1,205,140 1,205,140
Other creditors -Loan Note 2 - EP Buxton - falling due after 1 year 1,219,539 1,219,539
4,704,384 2,834,093
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5