Acorah Software Products - Accounts Production 16.1.300 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 09346481 Mr Maurice Edgington Mr Gary Hall Mr Jeremy Laming Mr Thomas Kean iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09346481 2023-09-30 09346481 2024-09-30 09346481 2023-10-01 2024-09-30 09346481 frs-core:CurrentFinancialInstruments 2024-09-30 09346481 frs-core:Non-currentFinancialInstruments 2024-09-30 09346481 frs-core:ComputerEquipment 2024-09-30 09346481 frs-core:ComputerEquipment 2023-10-01 2024-09-30 09346481 frs-core:ComputerEquipment 2023-09-30 09346481 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 09346481 frs-core:OtherResidualIntangibleAssets 2024-09-30 09346481 frs-core:OtherResidualIntangibleAssets 2023-10-01 2024-09-30 09346481 frs-core:OtherResidualIntangibleAssets 2023-09-30 09346481 frs-core:SharePremium 2024-09-30 09346481 frs-core:ShareCapital 2024-09-30 09346481 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 09346481 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09346481 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 09346481 frs-bus:SmallEntities 2023-10-01 2024-09-30 09346481 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09346481 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 09346481 frs-bus:Director1 2023-10-01 2024-09-30 09346481 frs-bus:Director2 2023-10-01 2024-09-30 09346481 frs-bus:Director3 2023-10-01 2024-09-30 09346481 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 09346481 frs-countries:EnglandWales 2023-10-01 2024-09-30 09346481 2022-09-30 09346481 2023-09-30 09346481 2022-10-01 2023-09-30 09346481 frs-core:CurrentFinancialInstruments 2023-09-30 09346481 frs-core:Non-currentFinancialInstruments 2023-09-30 09346481 frs-core:SharePremium 2023-09-30 09346481 frs-core:ShareCapital 2023-09-30 09346481 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 09346481
Selkie Swim Co Limited
Financial Statements
For The Year Ended 30 September 2024
Bentley Financial Solutions
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09346481
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 99 99
99 99
CURRENT ASSETS
Stocks 6 79,327 108,933
Debtors 7 97 6,253
79,424 115,186
Creditors: Amounts Falling Due Within One Year 8 (84,578 ) (91,376 )
NET CURRENT ASSETS (LIABILITIES) (5,154 ) 23,810
TOTAL ASSETS LESS CURRENT LIABILITIES (5,055 ) 23,909
Creditors: Amounts Falling Due After More Than One Year 9 (595,725 ) (598,887 )
NET LIABILITIES (600,780 ) (574,978 )
CAPITAL AND RESERVES
Called up share capital 10 4,338 4,338
Share premium account 602,452 602,452
Profit and Loss Account (1,207,570 ) (1,181,768 )
SHAREHOLDERS' FUNDS (600,780) (574,978)
Page 1
Page 2
For the year ending 30 September 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 Maurice Edgington
Director
16/02/2025
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
Selkie Swim Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09346481 . The registered office is 6 Maida Vale Business Centre, Mead Road, Cheltenham, Gloucestershire, GL53 7ER.
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 financial statements have been prepared on a going concern basis as the business will continue to receive the support required from its directors and shareholders. It is not expected that the company will be able to repay shareholder loans in the foreseeable future, the shareholders have agreed to this arrangement and their loans have been reclassified as long term on the balance sheet.
There have been significant changes to organisational structure as well as the sales and distribution model, both during and post the financial year end. Since the year end the company has entered into a long term agreement to license its brand and sell the existing stocks. This will provide ongoing income that will cover any running costs and ensure the company has resources to discharge its debts to 3rd parties.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are for website development. It is amortised to profit and loss account at 10% on a straight line basis.
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:
Computer Equipment 33% Straight Line
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Intangible Assets
Other
£
Cost
As at 1 October 2023 4,000
Disposals 4,000
As at 30 September 2024 8,000
Amortisation
As at 1 October 2023 4,000
Disposals 4,000
As at 30 September 2024 8,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 October 2023 1,422
As at 30 September 2024 1,422
Depreciation
As at 1 October 2023 1,323
As at 30 September 2024 1,323
Net Book Value
As at 30 September 2024 99
As at 1 October 2023 99
6. Stocks
2024 2023
£ £
Finished goods 79,327 108,933
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors (2,316 ) 4,111
Prepayments and accrued income 2,150 2,142
Other debtors (256 ) -
Other taxes and social security 519 -
97 6,253
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 44,082 47,312
Bank loans and overdrafts 29,793 23,183
Other taxes and social security - 1,882
VAT 4,609 6,822
Other creditors 4,664 11,447
Accruals and deferred income 1,430 730
84,578 91,376
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,196 40,363
Other creditors 563,529 558,524
595,725 598,887
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4,338 4,338
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