Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 07642840 Mr Ian Ewin Mr Ian Veryard iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07642840 2023-06-30 07642840 2024-06-30 07642840 2023-07-01 2024-06-30 07642840 frs-core:CurrentFinancialInstruments 2024-06-30 07642840 frs-core:Non-currentFinancialInstruments 2024-06-30 07642840 frs-core:FurnitureFittings 2024-06-30 07642840 frs-core:FurnitureFittings 2023-07-01 2024-06-30 07642840 frs-core:FurnitureFittings 2023-06-30 07642840 frs-core:ShareCapital 2024-06-30 07642840 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07642840 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07642840 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07642840 frs-bus:SmallEntities 2023-07-01 2024-06-30 07642840 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07642840 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07642840 frs-bus:Director1 2023-07-01 2024-06-30 07642840 frs-bus:Director2 2023-07-01 2024-06-30 07642840 frs-countries:EnglandWales 2023-07-01 2024-06-30 07642840 2022-06-30 07642840 2023-06-30 07642840 2022-07-01 2023-06-30 07642840 frs-core:CurrentFinancialInstruments 2023-06-30 07642840 frs-core:Non-currentFinancialInstruments 2023-06-30 07642840 frs-core:ShareCapital 2023-06-30 07642840 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 07642840
Ledlites Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
RS Welwyn Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07642840
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,130 1,509
1,130 1,509
CURRENT ASSETS
Stocks 5 1,500 3,000
Debtors 6 79,400 196,906
Cash at bank and in hand 38,692 71,518
119,592 271,424
Creditors: Amounts Falling Due Within One Year 7 (101,785 ) (231,339 )
NET CURRENT ASSETS (LIABILITIES) 17,807 40,085
TOTAL ASSETS LESS CURRENT LIABILITIES 18,937 41,594
Creditors: Amounts Falling Due After More Than One Year 8 (10,510 ) (20,765 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (215 ) (287 )
NET ASSETS 8,212 20,542
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 8,012 20,342
SHAREHOLDERS' FUNDS 8,212 20,542
Page 1
Page 2
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 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 Ian Veryard
Director
20/03/2024
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
Ledlites Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07642840 . The registered office is Riverside House, 14 Prospect Place, Welwyn, Herts, AL6 9EN.
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:
Fixtures & Fittings 25% reducing balance
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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
...CONTINUED
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2.6. Taxation - continued
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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 July 2023 10,451
As at 30 June 2024 10,451
Depreciation
As at 1 July 2023 8,942
Provided during the period 379
As at 30 June 2024 9,321
Net Book Value
As at 30 June 2024 1,130
As at 1 July 2023 1,509
5. Stocks
2024 2023
£ £
Finished goods 1,500 3,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 74,150 191,656
Prepayments and accrued income 5,250 5,250
79,400 196,906
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 35,221 131,033
Bank loans and overdrafts 10,255 10,000
Corporation tax 12,214 11,861
Other taxes and social security 913 1,029
VAT 34,771 68,183
Other creditors 4,587 5,409
Accruals and deferred income 2,052 2,052
Directors' loan accounts 1,772 1,772
101,785 231,339
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,510 20,765
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 215 287
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 58,000 51,000
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