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 01897407 Mr Alan Sayers Mark Sayers Mrs Mary Sayers Mr Paul Lawrence Mr Alan Sayers iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01897407 2023-05-31 01897407 2024-05-31 01897407 2023-06-01 2024-05-31 01897407 frs-core:CurrentFinancialInstruments 2024-05-31 01897407 frs-core:Non-currentFinancialInstruments 2024-05-31 01897407 frs-core:ComputerEquipment 2024-05-31 01897407 frs-core:ComputerEquipment 2023-06-01 2024-05-31 01897407 frs-core:ComputerEquipment 2023-05-31 01897407 frs-core:FurnitureFittings 2024-05-31 01897407 frs-core:FurnitureFittings 2023-06-01 2024-05-31 01897407 frs-core:FurnitureFittings 2023-05-31 01897407 frs-core:NetGoodwill 2024-05-31 01897407 frs-core:NetGoodwill 2023-06-01 2024-05-31 01897407 frs-core:NetGoodwill 2023-05-31 01897407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 01897407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 01897407 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 01897407 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 01897407 frs-core:MotorVehicles 2024-05-31 01897407 frs-core:MotorVehicles 2023-06-01 2024-05-31 01897407 frs-core:MotorVehicles 2023-05-31 01897407 frs-core:PlantMachinery 2024-05-31 01897407 frs-core:PlantMachinery 2023-06-01 2024-05-31 01897407 frs-core:PlantMachinery 2023-05-31 01897407 frs-core:ShareCapital 2024-05-31 01897407 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 01897407 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01897407 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 01897407 frs-bus:SmallEntities 2023-06-01 2024-05-31 01897407 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 01897407 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01897407 frs-core:CostValuation 2023-05-31 01897407 frs-core:CostValuation 2024-05-31 01897407 frs-core:ProvisionsForImpairmentInvestments 2023-05-31 01897407 frs-core:ProvisionsForImpairmentInvestments 2024-05-31 01897407 frs-bus:Director1 2023-06-01 2024-05-31 01897407 frs-bus:Director2 2023-06-01 2024-05-31 01897407 frs-bus:Director3 2023-06-01 2024-05-31 01897407 frs-bus:Director4 2023-06-01 2024-05-31 01897407 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 01897407 frs-countries:EnglandWales 2023-06-01 2024-05-31 01897407 2022-05-31 01897407 2023-05-31 01897407 2022-06-01 2023-05-31 01897407 frs-core:CurrentFinancialInstruments 2023-05-31 01897407 frs-core:Non-currentFinancialInstruments 2023-05-31 01897407 frs-core:ShareCapital 2023-05-31 01897407 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 01897407
Teal Press Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Graham Cormack
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01897407
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,196 12,294
Tangible Assets 5 85,696 110,465
Investments 6 89,777 89,777
183,669 212,536
CURRENT ASSETS
Stocks 7 323,941 305,779
Debtors 8 138,542 132,683
Cash at bank and in hand 75,329 70,164
537,812 508,626
Creditors: Amounts Falling Due Within One Year 9 (138,278 ) (122,859 )
NET CURRENT ASSETS (LIABILITIES) 399,534 385,767
TOTAL ASSETS LESS CURRENT LIABILITIES 583,203 598,303
Creditors: Amounts Falling Due After More Than One Year 10 (63,733 ) (73,733 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,083 ) (13,534 )
NET ASSETS 503,387 511,036
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 503,385 511,034
SHAREHOLDERS' FUNDS 503,387 511,036
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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 Alan Sayers
Director
25/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Teal Press Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01897407 . The registered office is Wymondham Business Centre, Unit 4g, Eleven Mile Lane, Suton, Norfolk, NR18 9JL.
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 5 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 2% Reducing balance
Leasehold 2% Reducing balance
Plant & Machinery 20% Reducing balance
Motor Vehicles 25% Straight line
Fixtures & Fittings 15% Reducing balance
Computer Equipment 33% Reducing balance
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.
2.6. 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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2023: 22)
22 22
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 20,490
As at 31 May 2024 20,490
Amortisation
As at 1 June 2023 8,196
Provided during the period 4,098
As at 31 May 2024 12,294
Net Book Value
As at 31 May 2024 8,196
As at 1 June 2023 12,294
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 1,422 171,451 51,965 135,505
Additions - 1,047 - 1,206
As at 31 May 2024 1,422 172,498 51,965 136,711
...CONTINUED
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Depreciation
As at 1 June 2023 1,422 121,578 34,411 100,584
Provided during the period - 10,184 8,745 5,419
As at 31 May 2024 1,422 131,762 43,156 106,003
Net Book Value
As at 31 May 2024 - 40,736 8,809 30,708
As at 1 June 2023 - 49,873 17,554 34,921
Computer Equipment Total
£ £
Cost
As at 1 June 2023 101,065 461,408
Additions - 2,253
As at 31 May 2024 101,065 463,661
Depreciation
As at 1 June 2023 92,948 350,943
Provided during the period 2,674 27,022
As at 31 May 2024 95,622 377,965
Net Book Value
As at 31 May 2024 5,443 85,696
As at 1 June 2023 8,117 110,465
6. Investments
Subsidiaries
£
Cost
As at 1 June 2023 89,777
As at 31 May 2024 89,777
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 89,777
As at 1 June 2023 89,777
7. Stocks
2024 2023
£ £
Finished goods 323,941 305,779
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 123,191 105,462
Amounts owed by group undertakings - 7,478
Other debtors 15,351 19,743
138,542 132,683
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 91,324 59,400
Bank loans and overdrafts 10,000 10,000
Amounts owed to participating interests 6,597 -
Other creditors 10,029 35,908
Taxation and social security 20,328 17,551
138,278 122,859
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,333 28,333
Other creditors 45,400 45,400
63,733 73,733
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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