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 11876826 Mr Catal Bishopp-Martin Mr Derek Woodward iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11876826 2023-05-31 11876826 2024-05-31 11876826 2023-06-01 2024-05-31 11876826 frs-core:CurrentFinancialInstruments 2024-05-31 11876826 frs-core:Non-currentFinancialInstruments 2024-05-31 11876826 frs-core:FurnitureFittings 2024-05-31 11876826 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11876826 frs-core:FurnitureFittings 2023-05-31 11876826 frs-core:NetGoodwill 2024-05-31 11876826 frs-core:NetGoodwill 2023-06-01 2024-05-31 11876826 frs-core:NetGoodwill 2023-05-31 11876826 frs-core:PlantMachinery 2024-05-31 11876826 frs-core:PlantMachinery 2023-06-01 2024-05-31 11876826 frs-core:PlantMachinery 2023-05-31 11876826 frs-core:ShareCapital 2024-05-31 11876826 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11876826 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11876826 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11876826 frs-bus:SmallEntities 2023-06-01 2024-05-31 11876826 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11876826 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11876826 frs-bus:Director1 2023-06-01 2024-05-31 11876826 frs-bus:Director1 2023-05-31 11876826 frs-bus:Director1 2024-05-31 11876826 frs-bus:Director2 2023-06-01 2024-05-31 11876826 frs-bus:Director2 2023-05-31 11876826 frs-bus:Director2 2024-05-31 11876826 frs-countries:EnglandWales 2023-06-01 2024-05-31 11876826 2022-05-31 11876826 2023-05-31 11876826 2022-06-01 2023-05-31 11876826 frs-core:CurrentFinancialInstruments 2023-05-31 11876826 frs-core:Non-currentFinancialInstruments 2023-05-31 11876826 frs-core:ShareCapital 2023-05-31 11876826 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11876826
Kwb Estate Agents Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
THE BUBB SHERWIN PARTNERSHIP LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11876826
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 6,700
Tangible Assets 5 2,950 3,936
2,950 10,636
CURRENT ASSETS
Stocks 6 64,220 50,489
Debtors 7 13,538 3,302
Cash at bank and in hand 12,691 13,974
90,449 67,765
Creditors: Amounts Falling Due Within One Year 8 (171,592 ) (185,128 )
NET CURRENT ASSETS (LIABILITIES) (81,143 ) (117,363 )
TOTAL ASSETS LESS CURRENT LIABILITIES (78,193 ) (106,727 )
Creditors: Amounts Falling Due After More Than One Year 9 (9,168 ) (14,168 )
NET LIABILITIES (87,361 ) (120,895 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (87,461 ) (120,995 )
SHAREHOLDERS' FUNDS (87,361) (120,895)
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 Catal Bishopp-Martin
Director
21/02/2025
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
Kwb Estate Agents Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11876826 . The registered office is 100 High Street, Whitstable, Kent, CT5 1AZ.
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 20 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:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% 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. Going concern
Due to losses suffered in the year the company is insolvent by £120,375  (31 May 2022 £73,844). The company continues to trade but is dependent on the continuing support of the directors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 5)
3 5
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 36,500
As at 31 May 2024 36,500
Amortisation
As at 1 June 2023 29,800
Provided during the period 6,700
As at 31 May 2024 36,500
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 6,700
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 6,296 3,495 9,791
As at 31 May 2024 6,296 3,495 9,791
Depreciation
As at 1 June 2023 3,876 1,979 5,855
Provided during the period 606 380 986
As at 31 May 2024 4,482 2,359 6,841
Net Book Value
As at 31 May 2024 1,814 1,136 2,950
As at 1 June 2023 2,420 1,516 3,936
6. Stocks
2024 2023
£ £
Work in progress 64,220 50,489
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,076 840
Other debtors 2,462 2,462
13,538 3,302
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Other taxes and social security 11,415 4,527
Other creditors 27,622 48,383
Directors' loan accounts 127,555 127,218
171,592 185,128
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,168 14,168
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Catal Bishopp-Martin (10,541 ) - (338 ) - (10,879 )
Mr Derek Woodward (116,676 ) - - - (116,676 )
The above loan is unsecured, interest free and repayable on demand.
Page 5