Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 09986152 Mr Kevin Hanley Mrs Paula Hanley Mr Jordan Baker Mrs Paula Hanley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09986152 2023-02-28 09986152 2024-02-29 09986152 2023-03-01 2024-02-29 09986152 frs-core:CurrentFinancialInstruments 2024-02-29 09986152 frs-core:ComputerEquipment 2024-02-29 09986152 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09986152 frs-core:ComputerEquipment 2023-02-28 09986152 frs-core:FurnitureFittings 2024-02-29 09986152 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09986152 frs-core:FurnitureFittings 2023-02-28 09986152 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 09986152 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 09986152 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 09986152 frs-core:PlantMachinery 2024-02-29 09986152 frs-core:PlantMachinery 2023-03-01 2024-02-29 09986152 frs-core:PlantMachinery 2023-02-28 09986152 frs-core:ShareCapital 2024-02-29 09986152 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09986152 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09986152 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09986152 frs-bus:SmallEntities 2023-03-01 2024-02-29 09986152 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09986152 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09986152 frs-bus:Director1 2023-03-01 2024-02-29 09986152 frs-bus:Director1 2023-02-28 09986152 frs-bus:Director1 2024-02-29 09986152 frs-bus:Director2 2023-03-01 2024-02-29 09986152 frs-bus:Director2 2023-02-28 09986152 frs-bus:Director2 2024-02-29 09986152 frs-bus:Director3 2023-03-01 2024-02-29 09986152 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 09986152 frs-countries:EnglandWales 2023-03-01 2024-02-29 09986152 2022-02-28 09986152 2023-02-28 09986152 2022-03-01 2023-02-28 09986152 frs-core:CurrentFinancialInstruments 2023-02-28 09986152 frs-core:ShareCapital 2023-02-28 09986152 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 09986152
Bristol Meadery Company Ltd
Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09986152
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 194,828 209,027
194,828 209,027
CURRENT ASSETS
Stocks 5 11,560 23,004
Debtors 6 179,469 85,232
Cash at bank and in hand 36,110 188,237
227,139 296,473
Creditors: Amounts Falling Due Within One Year 7 (282,855 ) (286,900 )
NET CURRENT ASSETS (LIABILITIES) (55,716 ) 9,573
TOTAL ASSETS LESS CURRENT LIABILITIES 139,112 218,600
NET ASSETS 139,112 218,600
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 139,110 218,598
SHAREHOLDERS' FUNDS 139,112 218,600
Page 1
Page 2
For the year ending 29 February 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 Kevin Hanley
Director
15 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Bristol Meadery Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09986152 . The registered office is Flat 1, 13 Wellington Terrace, Clevedon, BS21 7PS.
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:
Leasehold 2% straight line
Plant & Machinery 20% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
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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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 18)
19 18
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 149,823 88,793 38,605 7,107 284,328
Additions - 344 1,875 270 2,489
As at 29 February 2024 149,823 89,137 40,480 7,377 286,817
Depreciation
As at 1 March 2023 7,601 40,993 21,825 4,882 75,301
Provided during the period 2,996 9,629 2,798 1,265 16,688
As at 29 February 2024 10,597 50,622 24,623 6,147 91,989
Net Book Value
As at 29 February 2024 139,226 38,515 15,857 1,230 194,828
As at 1 March 2023 142,222 47,800 16,780 2,225 209,027
5. Stocks
2024 2023
£ £
Materials 11,560 23,004
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,072 -
Other debtors 54,952 16,845
Directors' loan accounts 120,445 68,387
179,469 85,232
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 64,609 95,135
Bank loans and overdrafts 39,443 41,292
Corporation tax 89,093 84,451
Other taxes and social security 21,395 18,682
VAT 61,118 38,499
Net wages - 3,670
Other creditors 7,197 5,171
282,855 286,900
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Kevin Hanley 34,194 143,054 (117,025 ) - 60,223
Mrs Paula Hanley 34,194 143,054 (117,025 ) - 60,223
The above loan is unsecured, interest free and repayable on demand.
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