Acorah Software Products - Accounts Production 16.1.300 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 07318213 Mrs Heidi Hunter-Cope iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07318213 2023-07-31 07318213 2024-07-31 07318213 2023-08-01 2024-07-31 07318213 frs-core:CurrentFinancialInstruments 2024-07-31 07318213 frs-core:Non-currentFinancialInstruments 2024-07-31 07318213 frs-core:ComputerEquipment 2024-07-31 07318213 frs-core:ComputerEquipment 2023-08-01 2024-07-31 07318213 frs-core:ComputerEquipment 2023-07-31 07318213 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 07318213 frs-core:FurnitureFittings 2024-07-31 07318213 frs-core:FurnitureFittings 2023-08-01 2024-07-31 07318213 frs-core:FurnitureFittings 2023-07-31 07318213 frs-core:NetGoodwill 2024-07-31 07318213 frs-core:NetGoodwill 2023-08-01 2024-07-31 07318213 frs-core:NetGoodwill 2023-07-31 07318213 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 07318213 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 07318213 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 07318213 frs-core:OtherResidualIntangibleAssets 2024-07-31 07318213 frs-core:OtherResidualIntangibleAssets 2023-07-31 07318213 frs-core:PlantMachinery 2024-07-31 07318213 frs-core:PlantMachinery 2023-08-01 2024-07-31 07318213 frs-core:PlantMachinery 2023-07-31 07318213 frs-core:ShareCapital 2024-07-31 07318213 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 07318213 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07318213 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 07318213 frs-bus:SmallEntities 2023-08-01 2024-07-31 07318213 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07318213 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07318213 frs-bus:Director1 2023-08-01 2024-07-31 07318213 frs-bus:Director1 2023-07-31 07318213 frs-bus:Director1 2024-07-31 07318213 frs-countries:EnglandWales 2023-08-01 2024-07-31 07318213 2022-07-31 07318213 2023-07-31 07318213 2022-08-01 2023-07-31 07318213 frs-core:CurrentFinancialInstruments 2023-07-31 07318213 frs-core:Non-currentFinancialInstruments 2023-07-31 07318213 frs-core:ShareCapital 2023-07-31 07318213 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 07318213
W B Midwest Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07318213
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 559 1,248
559 1,248
CURRENT ASSETS
Stocks 6 1,082 1,614
Debtors 7 4,608 5,659
Cash at bank and in hand 52,515 58,068
58,205 65,341
Creditors: Amounts Falling Due Within One Year 8 (52,798 ) (58,089 )
NET CURRENT ASSETS (LIABILITIES) 5,407 7,252
TOTAL ASSETS LESS CURRENT LIABILITIES 5,966 8,500
Creditors: Amounts Falling Due After More Than One Year 9 (11,333 ) (24,933 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (178 ) (237 )
NET LIABILITIES (5,545 ) (16,670 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (5,546 ) (16,671 )
SHAREHOLDERS' FUNDS (5,545) (16,670)
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Heidi Hunter-Cope
Director
10th February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
W B Midwest Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07318213 . The registered office is Dingle View, Cound Moor, Shrewsbury, Shropshire, SY5 6AY.
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. Going Concern Disclosure
As at the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £5,545 (2023: £16,670) as a result of losses made to date. The financial statements have been prepared on a going concern basis as the director has confirmed that she will continue to support the company for foreseeable future and meet the excess liabilities if the company is unable to do so.
2.3. 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.
2.4. 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 ten years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are leasehold improvements. It is amortised to profit and loss account over its estimated economic life of five years.
2.6. 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 Fully depreciated
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.7. 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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2.8. 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: 21 (2023: 22)
21 22
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 August 2023 85,000 68,750 153,750
As at 31 July 2024 85,000 68,750 153,750
Amortisation
As at 1 August 2023 85,000 68,750 153,750
As at 31 July 2024 85,000 68,750 153,750
Net Book Value
As at 31 July 2024 - - -
As at 1 August 2023 - - -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 4,760 4,217 441 7,759 17,177
As at 31 July 2024 4,760 4,217 441 7,759 17,177
...CONTINUED
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Page 5
Depreciation
As at 1 August 2023 4,760 3,300 110 7,759 15,929
Provided during the period - 230 459 - 689
As at 31 July 2024 4,760 3,530 569 7,759 16,618
Net Book Value
As at 31 July 2024 - 687 (128 ) - 559
As at 1 August 2023 - 917 331 - 1,248
6. Stocks
2024 2023
£ £
Stock 1,082 1,614
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,976 2,715
Director's loan account 2,632 2,944
4,608 5,659
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,200 14,273
Bank loans and overdrafts 13,600 13,600
Corporation tax 165 -
Other taxes and social security 2,609 2,304
VAT 18,495 18,882
Other creditors 329 321
Accruals and deferred income 12,400 8,709
52,798 58,089
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,333 24,933
Other borrowings
The amounts of £13,600 included in creditors due within one year and £11,333 included in creditors due after more than one year are subject to a UK Government guarantee. The facility is provided through the Coronavirus Business Interruption Scheme (CBILS) managed by the British Business Bank of behalf of and with the financial backing of the Secretary of State for Business, energy and Industrial Strategy. The CBILS guarantee is provided by the Lender.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mrs Heidi Hunter-Cope 2,944 - 312 - 2,632
The above loan is unsecured, interest free and repayable on demand.
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