2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04657947 2023-03-01 2024-02-29 04657947 2024-02-29 04657947 2023-02-28 04657947 2022-03-01 2023-02-28 04657947 2023-02-28 04657947 2022-02-28 04657947 bus:Director2 2023-03-01 2024-02-29 04657947 core:WithinOneYear 2024-02-29 04657947 core:WithinOneYear 2023-02-28 04657947 core:ShareCapital 2024-02-29 04657947 core:ShareCapital 2023-02-28 04657947 core:RetainedEarningsAccumulatedLosses 2024-02-29 04657947 core:RetainedEarningsAccumulatedLosses 2023-02-28 04657947 bus:SmallEntities 2023-03-01 2024-02-29 04657947 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04657947 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04657947 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04657947 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 04657947
AHPodd Business Services Limited
Unaudited financial statements
For the year ended
29 February 2024
AHPodd Business Services Limited
Statement of financial position
29 February 2024
2024
2023
(restated)
Note
£
£
£
£
Current assets
Stocks
315,714
264,907
Debtors
5
535,760
597,213
Cash at bank and in hand
48,704
38,123
---------
---------
900,178
900,243
Creditors: Amounts falling due within one year
6
( 423,762)
( 616,809)
---------
---------
Net current assets
476,416
283,434
---------
---------
Total assets less current liabilities
476,416
283,434
---------
---------
Net assets
476,416
283,434
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
476,316
283,334
---------
---------
Shareholders funds
476,416
283,434
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
Mr A Gupta
Director
Company registration number: 04657947
AHPodd Business Services Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 2 (2023: 2 ).
5. Debtors
2024
2023
(restated)
£
£
Trade debtors
169,010
232,867
Other debtors
366,750
364,346
---------
---------
535,760
597,213
---------
---------
6. Creditors: Amounts falling due within one year
2024
2023
(restated)
£
£
Trade creditors
334,714
605,216
Amounts owed to group undertakings and undertakings in which the company has a participating interest
19,141
Social security and other taxes
63,946
9,369
Other creditors
5,961
2,224
---------
---------
423,762
616,809
---------
---------
7. Prior period errors
An adjustment has occurred in respect of an understatement of trade creditors and understatement of trade debtors in the prior year accounts. The 2023 accounts have now been corrected for the understatement. Trade creditors were understated by £552,968. This has been corrected by increasing cost of sales by £288,061, and recognising goods in transit of £264,907. Trade debtors were understated by £48,771. This has been corrected by increasing trade debtors and increasing sales by the same amount. The overall net effect to the profit and loss is a decrease of £200,774, being a decrease to net profit of £239,290 and decrease to corporation tax of £38,516.