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Registered number: 11419897
TONY'S PET AND GARDEN SUPPLIES LIMITED
Unaudited Financial Statements
For The Year Ended 30 June 2024
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11419897
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 73,640 76,543
73,640 76,543
CURRENT ASSETS
Stocks 5 147,316 94,145
Debtors 6 448 15,981
Cash at bank and in hand 17,717 13,656
165,481 123,782
Creditors: Amounts Falling Due Within One Year 7 (51,150 ) (33,757 )
NET CURRENT ASSETS (LIABILITIES) 114,331 90,025
TOTAL ASSETS LESS CURRENT LIABILITIES 187,971 166,568
Creditors: Amounts Falling Due After More Than One Year 8 (153,480 ) (147,937 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,407 ) (8,302 )
NET ASSETS 27,084 10,329
CAPITAL AND RESERVES
Called up share capital 10 11 11
Profit and Loss Account 27,073 10,318
SHAREHOLDERS' FUNDS 27,084 10,329
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For the year ending 30 June 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 his 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 Tony Charlton
Director
20/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
TONY'S PET AND GARDEN SUPPLIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 11419897 . The registered office is 344 Stanhope Road, South Shields, Tyne and Wear, NE33 4QZ.
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 N/A
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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
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.
2.7. Functional and presentation currency
These accounts are presented in Brittish Pound Sterling, which is the Company’s functional currency.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 4 4
4 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 July 2023 43,336 38,732 11,995 94,063
Additions - 4,533 - 4,533
As at 30 June 2024 43,336 43,265 11,995 98,596
Depreciation
As at 1 July 2023 - 17,320 200 17,520
Provided during the period - 5,077 2,359 7,436
As at 30 June 2024 - 22,397 2,559 24,956
Net Book Value
As at 30 June 2024 43,336 20,868 9,436 73,640
As at 1 July 2023 43,336 21,412 11,795 76,543
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5. Stocks
2024 2023
£ £
Finished goods 147,316 94,145
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 448 751
Other debtors - 165
VAT - 5,065
Director's loan account - 10,000
448 15,981
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,004 7,290
Trade creditors 12,314 4,613
Bank loans and overdrafts 10,000 10,000
Corporation tax 18,405 9,281
VAT 647 -
Other creditors 1,281 261
Accruals and deferred income 328 2,312
Director's loan account 171 -
51,150 33,757
Creditors includes a directors loan of £171, this is interest free and repayable on demand.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,056 22,060
Bank loans 9,167 19,167
Amounts owed to related parties 130,257 106,710
153,480 147,937
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,004 7,290
Later than one year and not later than five years 14,056 22,060
22,060 29,350
22,060 29,350
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 11 11
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Tony Charlton 27,000 23,306
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