Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 08610867 Mrs Zlate Yozef iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08610867 2023-06-30 08610867 2024-06-30 08610867 2023-07-01 2024-06-30 08610867 frs-core:CurrentFinancialInstruments 2024-06-30 08610867 frs-core:Non-currentFinancialInstruments 2024-06-30 08610867 frs-core:ComputerEquipment 2024-06-30 08610867 frs-core:ComputerEquipment 2023-07-01 2024-06-30 08610867 frs-core:ComputerEquipment 2023-06-30 08610867 frs-core:FurnitureFittings 2024-06-30 08610867 frs-core:FurnitureFittings 2023-07-01 2024-06-30 08610867 frs-core:FurnitureFittings 2023-06-30 08610867 frs-core:ShareCapital 2024-06-30 08610867 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 08610867 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08610867 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 08610867 frs-bus:SmallEntities 2023-07-01 2024-06-30 08610867 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08610867 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08610867 frs-bus:Director1 2023-07-01 2024-06-30 08610867 frs-countries:EnglandWales 2023-07-01 2024-06-30 08610867 2022-06-30 08610867 2023-06-30 08610867 2022-07-01 2023-06-30 08610867 frs-core:CurrentFinancialInstruments 2023-06-30 08610867 frs-core:Non-currentFinancialInstruments 2023-06-30 08610867 frs-core:ShareCapital 2023-06-30 08610867 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 08610867
Majestic Silver Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08610867
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,333 10,991
9,333 10,991
CURRENT ASSETS
Stocks 5 603,500 518,400
Debtors 6 164,420 164,420
Cash at bank and in hand 2,897 933
770,817 683,753
Creditors: Amounts Falling Due Within One Year 7 (771,761 ) (705,202 )
NET CURRENT ASSETS (LIABILITIES) (944 ) (21,449 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,389 (10,458 )
Creditors: Amounts Falling Due After More Than One Year 8 (33,510 ) (38,962 )
NET LIABILITIES (25,121 ) (49,420 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (25,122 ) (49,421 )
SHAREHOLDERS' FUNDS (25,121) (49,420)
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Zlate Yozef
Director
24/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Majestic Silver Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08610867 . The registered office is Js & Co Accountants, 26 Theydon Road, London, E5 9NA.
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 15%
Computer Equipment 25%
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 28,448 391 28,839
As at 30 June 2024 28,448 391 28,839
Depreciation
As at 1 July 2023 17,550 298 17,848
Provided during the period 1,635 23 1,658
As at 30 June 2024 19,185 321 19,506
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 June 2024 9,263 70 9,333
As at 1 July 2023 10,898 93 10,991
5. Stocks
2024 2023
£ £
Finished goods 603,500 518,400
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,250 4,250
Other debtors 160,170 160,170
164,420 164,420
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 306,725 255,969
VAT 13,681 9,718
Other creditors 451,355 439,515
771,761 705,202
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,510 38,962
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4