Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 06693829 Mr Ronak Patel Mrs Vaishali Patel Mr Rajendra Patel Mrs Vinaben Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06693829 2023-10-31 06693829 2024-10-31 06693829 2023-11-01 2024-10-31 06693829 frs-core:CurrentFinancialInstruments 2024-10-31 06693829 frs-core:Non-currentFinancialInstruments 2024-10-31 06693829 frs-core:ComputerEquipment 2023-11-01 2024-10-31 06693829 frs-core:FurnitureFittings 2023-11-01 2024-10-31 06693829 frs-core:NetGoodwill 2024-10-31 06693829 frs-core:NetGoodwill 2023-11-01 2024-10-31 06693829 frs-core:NetGoodwill 2023-10-31 06693829 frs-core:LandBuildings 2024-10-31 06693829 frs-core:LandBuildings 2023-11-01 2024-10-31 06693829 frs-core:LandBuildings 2023-10-31 06693829 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 06693829 frs-core:PlantMachinery 2024-10-31 06693829 frs-core:PlantMachinery 2023-11-01 2024-10-31 06693829 frs-core:PlantMachinery 2023-10-31 06693829 frs-core:ShareCapital 2024-10-31 06693829 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 06693829 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06693829 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 06693829 frs-bus:SmallEntities 2023-11-01 2024-10-31 06693829 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 06693829 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06693829 frs-bus:Director1 2023-11-01 2024-10-31 06693829 frs-bus:Director2 2023-11-01 2024-10-31 06693829 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 06693829 frs-bus:CompanySecretary2 2023-11-01 2024-10-31 06693829 frs-countries:EnglandWales 2023-11-01 2024-10-31 06693829 2022-10-31 06693829 2023-10-31 06693829 2022-11-01 2023-10-31 06693829 frs-core:CurrentFinancialInstruments 2023-10-31 06693829 frs-core:Non-currentFinancialInstruments 2023-10-31 06693829 frs-core:ShareCapital 2023-10-31 06693829 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 06693829
Way-Step Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06693829
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 705,250 745,550
Tangible Assets 5 110,107 117,713
815,357 863,263
CURRENT ASSETS
Stocks 6 297,559 305,260
Debtors 7 268,143 248,434
Cash at bank and in hand 270,543 234,292
836,245 787,986
Creditors: Amounts Falling Due Within One Year 8 (447,109 ) (456,222 )
NET CURRENT ASSETS (LIABILITIES) 389,136 331,764
TOTAL ASSETS LESS CURRENT LIABILITIES 1,204,493 1,195,027
Creditors: Amounts Falling Due After More Than One Year 9 (699,217 ) (808,729 )
NET ASSETS 505,276 386,298
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 505,176 386,198
SHAREHOLDERS' FUNDS 505,276 386,298
Page 1
Page 2
For the year ending 31 October 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 Ronak Patel
Director
19/03/2025
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
Way-Step Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06693829 . The registered office is 2 Powys Lane, Southgate, London, N14 7JG.
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.
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:
Leasehold
Plant & Machinery 20% WDV
Fixtures & Fittings 20% WDV
Computer Equipment 20% WDV
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.
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2.6. Taxation
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 1,666,000
As at 31 October 2024 1,666,000
Amortisation
As at 1 November 2023 920,450
Provided during the period 40,300
As at 31 October 2024 960,750
Net Book Value
As at 31 October 2024 705,250
As at 1 November 2023 745,550
5. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 November 2023 63,180 270,233 333,413
Additions - 3,663 3,663
As at 31 October 2024 63,180 273,896 337,076
Depreciation
As at 1 November 2023 - 215,700 215,700
Provided during the period - 11,269 11,269
As at 31 October 2024 - 226,969 226,969
...CONTINUED
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Net Book Value
As at 31 October 2024 63,180 46,927 110,107
As at 1 November 2023 63,180 54,533 117,713
6. Stocks
2024 2023
£ £
Finished goods 297,559 305,260
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 48,216 18,957
Other debtors 219,927 229,477
268,143 248,434
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 275,189 333,513
Other creditors 83,740 71,304
Taxation and social security 88,180 51,405
447,109 456,222
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
NWB Business loan 699,217 808,729
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 80,000 40,000
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