Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07030311 G Hardymon A Russell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07030311 2023-12-31 07030311 2024-12-31 07030311 2024-01-01 2024-12-31 07030311 frs-core:CurrentFinancialInstruments 2024-12-31 07030311 frs-core:Non-currentFinancialInstruments 2024-12-31 07030311 frs-core:ComputerEquipment 2024-12-31 07030311 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07030311 frs-core:ComputerEquipment 2023-12-31 07030311 frs-core:FurnitureFittings 2024-12-31 07030311 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07030311 frs-core:FurnitureFittings 2023-12-31 07030311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 07030311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 07030311 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 07030311 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 07030311 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 07030311 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 07030311 frs-core:PlantMachinery 2024-12-31 07030311 frs-core:PlantMachinery 2024-01-01 2024-12-31 07030311 frs-core:PlantMachinery 2023-12-31 07030311 frs-core:SharePremium 2024-12-31 07030311 frs-core:ShareCapital 2024-12-31 07030311 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07030311 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07030311 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07030311 frs-bus:SmallEntities 2024-01-01 2024-12-31 07030311 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07030311 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07030311 frs-bus:Director1 2024-01-01 2024-12-31 07030311 frs-bus:Director2 2024-01-01 2024-12-31 07030311 frs-countries:EnglandWales 2024-01-01 2024-12-31 07030311 2022-12-31 07030311 2023-12-31 07030311 2023-01-01 2023-12-31 07030311 frs-core:CurrentFinancialInstruments 2023-12-31 07030311 frs-core:Non-currentFinancialInstruments 2023-12-31 07030311 frs-core:SharePremium 2023-12-31 07030311 frs-core:ShareCapital 2023-12-31 07030311 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07030311
The Cat Inn Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07030311
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,069,719 1,073,680
1,069,719 1,073,680
CURRENT ASSETS
Stocks 27,830 26,342
Debtors 5 282 1,550
Cash at bank and in hand 100,306 136,160
128,418 164,052
Creditors: Amounts Falling Due Within One Year 6 (149,938 ) (198,176 )
NET CURRENT ASSETS (LIABILITIES) (21,520 ) (34,124 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,048,199 1,039,556
Creditors: Amounts Falling Due After More Than One Year 7 (496,050 ) (489,235 )
NET ASSETS 552,149 550,321
CAPITAL AND RESERVES
Called up share capital 500 500
Share premium account 469,399 469,399
Profit and Loss Account 82,250 80,422
SHAREHOLDERS' FUNDS 552,149 550,321
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For the year ending 31 December 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
A Russell
Director
14 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Cat Inn Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07030311 . The registered office is Queens Square, West Hoathly, West Sussex, RH19 4PP.
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. 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%
Leasehold 20% straight line
Plant & Machinery 33% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
No depreciation is provided in respect of freehold property from which the company trades as the directors believe that such a charge would be immaterial due to the expected useful economic life and residual value of the property.
This is in accordance with FRS102 but is a departure from the Companies Act 2006 which requires all property to be depreciated. The directors consider that to depreciate the property would not enable the financial statements to give a true and fair view.
2.4. 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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2.5. 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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 37 (2023: 36)
37 36
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 1,065,261 46,731 174,839 73,195
Additions - - 1,103 -
As at 31 December 2024 1,065,261 46,731 175,942 73,195
Depreciation
As at 1 January 2024 - 46,725 170,854 69,217
Provided during the period - - 2,999 1,807
As at 31 December 2024 - 46,725 173,853 71,024
Net Book Value
As at 31 December 2024 1,065,261 6 2,089 2,171
As at 1 January 2024 1,065,261 6 3,985 3,978
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Computer Equipment Total
£ £
Cost
As at 1 January 2024 9,198 1,369,224
Additions - 1,103
As at 31 December 2024 9,198 1,370,327
Depreciation
As at 1 January 2024 8,748 295,544
Provided during the period 258 5,064
As at 31 December 2024 9,006 300,608
Net Book Value
As at 31 December 2024 192 1,069,719
As at 1 January 2024 450 1,073,680
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 282 1,550
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 54,033 51,086
Other creditors 36,551 31,702
Taxation and social security 59,354 115,388
149,938 198,176
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 496,050 489,235
Included in creditors due after one year is a balance of £496,050 (2023 - £489,235) held by Hayseed Hill Reality LLC with regard to loan notes and accumulated interest. The loan notes are repayable at least 13 months from the date of the issue of a notice of repayment certificate by the holder of the loan notes. Interest of £31,815 (2023 - £4,248) arose on the loan notes in the year in accordance with the loan note agreement, calculated at the rate of LIBOR +1.5%.
In 2023 interest amounting to £37,331 was also credited, representing interest accrued during the years affected by the Covid-19 outbreak and waived by the lender.
8. Related Party Transactions
The parent company is Hayseed Hill Reality LLC a company registered in the United States of America whose address is PO Box 180 Great Barrington, Massachusetts, MA 0123, USA.
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