Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 02688434 Miss Hinakshi Patel Mr Hemant Patel Mr Dharmesh Bhagat iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02688434 2023-05-31 02688434 2024-05-31 02688434 2023-06-01 2024-05-31 02688434 frs-core:CurrentFinancialInstruments 2024-05-31 02688434 frs-core:ComputerEquipment 2023-06-01 2024-05-31 02688434 frs-core:FurnitureFittings 2023-06-01 2024-05-31 02688434 frs-core:LandBuildings 2024-05-31 02688434 frs-core:LandBuildings 2023-06-01 2024-05-31 02688434 frs-core:LandBuildings 2023-05-31 02688434 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 02688434 frs-core:PlantMachinery 2024-05-31 02688434 frs-core:PlantMachinery 2023-06-01 2024-05-31 02688434 frs-core:PlantMachinery 2023-05-31 02688434 frs-core:ShareCapital 2024-05-31 02688434 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 02688434 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02688434 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 02688434 frs-bus:SmallEntities 2023-06-01 2024-05-31 02688434 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02688434 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 02688434 frs-bus:Director1 2023-06-01 2024-05-31 02688434 frs-bus:Director2 2023-06-01 2024-05-31 02688434 frs-bus:Director3 2023-06-01 2024-05-31 02688434 frs-countries:EnglandWales 2023-06-01 2024-05-31 02688434 2022-05-31 02688434 2023-05-31 02688434 2022-06-01 2023-05-31 02688434 frs-core:CurrentFinancialInstruments 2023-05-31 02688434 frs-core:ShareCapital 2023-05-31 02688434 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 02688434
Lordsfield Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02688434
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 291,241 292,365
Investment Properties 5 117,071 117,071
408,312 409,436
CURRENT ASSETS
Stocks 6 84,558 84,228
Debtors 7 340,573 299,217
Cash at bank and in hand 473,932 464,813
899,063 848,258
Creditors: Amounts Falling Due Within One Year 8 (261,455 ) (214,140 )
NET CURRENT ASSETS (LIABILITIES) 637,608 634,118
TOTAL ASSETS LESS CURRENT LIABILITIES 1,045,920 1,043,554
NET ASSETS 1,045,920 1,043,554
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,045,918 1,043,552
SHAREHOLDERS' FUNDS 1,045,920 1,043,554
Page 1
Page 2
For the year ending 31 May 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 Hemant Patel
Director
18/02/2025
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
Lordsfield Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02688434 . The registered office is 35 Station Parade, Barking, Essex, IG11 8EB.
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.
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:
Freehold 0%
Plant & Machinery 20% WDV
Fixtures & Fittings 20% WDV
Computer Equipment 20% WDV
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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.
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2.6. Taxation
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 June 2023 285,237 298,639 583,876
Additions - 335 335
As at 31 May 2024 285,237 298,974 584,211
Depreciation
As at 1 June 2023 - 291,511 291,511
Provided during the period - 1,459 1,459
As at 31 May 2024 - 292,970 292,970
Net Book Value
As at 31 May 2024 285,237 6,004 291,241
As at 1 June 2023 285,237 7,128 292,365
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 117,071
6. Stocks
2024 2023
£ £
Finished goods 84,558 84,228
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 68,702 27,311
Other debtors 271,871 271,906
340,573 299,217
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 49,456 64,840
Other creditors 199,301 125,656
Taxation and social security 12,698 23,644
261,455 214,140
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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