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 10766376 G Banks K Banks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10766376 2023-05-31 10766376 2024-05-31 10766376 2023-06-01 2024-05-31 10766376 frs-core:CurrentFinancialInstruments 2024-05-31 10766376 frs-core:Non-currentFinancialInstruments 2024-05-31 10766376 frs-core:ComputerEquipment 2024-05-31 10766376 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10766376 frs-core:ComputerEquipment 2023-05-31 10766376 frs-core:FurnitureFittings 2024-05-31 10766376 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10766376 frs-core:FurnitureFittings 2023-05-31 10766376 frs-core:NetGoodwill 2024-05-31 10766376 frs-core:NetGoodwill 2023-06-01 2024-05-31 10766376 frs-core:NetGoodwill 2023-05-31 10766376 frs-core:ShareCapital 2024-05-31 10766376 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10766376 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10766376 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10766376 frs-bus:SmallEntities 2023-06-01 2024-05-31 10766376 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10766376 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10766376 frs-bus:Director1 2023-06-01 2024-05-31 10766376 frs-bus:Director2 2023-06-01 2024-05-31 10766376 frs-countries:EnglandWales 2023-06-01 2024-05-31 10766376 2022-05-31 10766376 2023-05-31 10766376 2022-06-01 2023-05-31 10766376 frs-core:CurrentFinancialInstruments 2023-05-31 10766376 frs-core:Non-currentFinancialInstruments 2023-05-31 10766376 frs-core:ShareCapital 2023-05-31 10766376 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10766376
Shropshire Gifts Limited
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: 10766376
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,050 9,400
Tangible Assets 5 - 245
7,050 9,645
CURRENT ASSETS
Stocks 6 18,029 11,032
Debtors 7 20,489 22,037
Cash at bank and in hand 490 1,511
39,008 34,580
Creditors: Amounts Falling Due Within One Year 8 (97,164 ) (71,351 )
NET CURRENT ASSETS (LIABILITIES) (58,156 ) (36,771 )
TOTAL ASSETS LESS CURRENT LIABILITIES (51,106 ) (27,126 )
Creditors: Amounts Falling Due After More Than One Year 9 (4,000 ) (7,000 )
NET LIABILITIES (55,106 ) (34,126 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (55,206 ) (34,226 )
SHAREHOLDERS' FUNDS (55,106) (34,126)
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
G Banks
Director
24/02/2025
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
Shropshire Gifts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10766376 . The registered office is C/O Penny Farthing, 5 The Square, Much Wenlock, Shropshire, TF13 6LX.
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 .... 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:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 23,500
As at 31 May 2024 23,500
...CONTINUED
Page 3
Page 4
Amortisation
As at 1 June 2023 14,100
Provided during the period 2,350
As at 31 May 2024 16,450
Net Book Value
As at 31 May 2024 7,050
As at 1 June 2023 9,400
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 2,981 1,306 4,287
As at 31 May 2024 2,981 1,306 4,287
Depreciation
As at 1 June 2023 2,735 1,307 4,042
Provided during the period 245 - 245
As at 31 May 2024 2,980 1,307 4,287
Net Book Value
As at 31 May 2024 1 (1 ) -
As at 1 June 2023 246 (1 ) 245
6. Stocks
2024 2023
£ £
Finished goods 18,029 11,032
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 20,489 22,037
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Other taxes and social security 304 195
VAT - 1,276
Accruals and deferred income 1,700 1,300
Directors' loan accounts 92,160 65,580
97,164 71,351
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,000 7,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5