Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 November 2022 false 1 September 2023 31 August 2024 31 August 2024 11034617 Mr Michael Heverin Mrs Raina Heverin Mr Dan Price Mr Scott McLellan Mr Garry Lee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11034617 2023-08-31 11034617 2024-08-31 11034617 2023-09-01 2024-08-31 11034617 frs-core:CurrentFinancialInstruments 2024-08-31 11034617 frs-core:Non-currentFinancialInstruments 2024-08-31 11034617 frs-core:ComputerEquipment 2024-08-31 11034617 frs-core:ComputerEquipment 2023-09-01 2024-08-31 11034617 frs-core:ComputerEquipment 2023-08-31 11034617 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 11034617 frs-core:FurnitureFittings 2024-08-31 11034617 frs-core:FurnitureFittings 2023-09-01 2024-08-31 11034617 frs-core:FurnitureFittings 2023-08-31 11034617 frs-core:OtherResidualIntangibleAssets 2024-08-31 11034617 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 11034617 frs-core:OtherResidualIntangibleAssets 2023-08-31 11034617 frs-core:SharePremium 2024-08-31 11034617 frs-core:ShareCapital 2024-08-31 11034617 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 11034617 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11034617 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 11034617 frs-bus:SmallEntities 2023-09-01 2024-08-31 11034617 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 11034617 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11034617 frs-bus:Director1 2023-09-01 2024-08-31 11034617 frs-bus:Director1 2023-08-31 11034617 frs-bus:Director1 2024-08-31 11034617 frs-bus:Director2 2023-09-01 2024-08-31 11034617 frs-bus:Director3 2023-09-01 2024-08-31 11034617 frs-bus:Director3 2023-08-31 11034617 frs-bus:Director3 2024-08-31 11034617 frs-bus:Director4 2023-09-01 2024-08-31 11034617 frs-bus:Director5 2023-09-01 2024-08-31 11034617 frs-core:CurrentFinancialInstruments 1 2024-08-31 11034617 frs-core:CurrentFinancialInstruments 2 2024-08-31 11034617 frs-core:CurrentFinancialInstruments 3 2024-08-31 11034617 frs-core:CurrentFinancialInstruments 4 2024-08-31 11034617 frs-countries:EnglandWales 2023-09-01 2024-08-31 11034617 2022-10-31 11034617 2023-08-31 11034617 2022-11-01 2023-08-31 11034617 frs-core:CurrentFinancialInstruments 2023-08-31 11034617 frs-core:Non-currentFinancialInstruments 2023-08-31 11034617 frs-core:SharePremium 2023-08-31 11034617 frs-core:ShareCapital 2023-08-31 11034617 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 11034617 frs-core:CurrentFinancialInstruments 1 2023-08-31 11034617 frs-core:CurrentFinancialInstruments 2 2023-08-31 11034617 frs-core:CurrentFinancialInstruments 3 2023-08-31 11034617 frs-core:CurrentFinancialInstruments 4 2023-08-31
Registered number: 11034617
Supplywell Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
RJF Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11034617
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 35,401 21,103
Tangible Assets 5 11,800 26,388
47,201 47,491
CURRENT ASSETS
Debtors 6 175,821 192,187
Cash at bank and in hand 385,893 205,353
561,714 397,540
Creditors: Amounts Falling Due Within One Year 7 (1,387,350 ) (311,932 )
NET CURRENT ASSETS (LIABILITIES) (825,636 ) 85,608
TOTAL ASSETS LESS CURRENT LIABILITIES (778,435 ) 133,099
Creditors: Amounts Falling Due After More Than One Year 8 (26,604 ) (32,205 )
NET (LIABILITIES)/ASSETS (805,039 ) 100,894
CAPITAL AND RESERVES
Called up share capital 9 2 3
Share premium account 1,814,992 1,214,991
Profit and Loss Account (2,620,033 ) (1,114,100 )
SHAREHOLDERS' FUNDS (805,039) 100,894
Page 1
Page 2
For the year ending 31 August 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 Michael Heverin
Director
14/10/2024
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
Supplywell Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11034617 . The registered office is Suite 122 Cotton Exchange Building, Liverpool, L3 9LQ.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of 5 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:
Fixtures & Fittings Full month reducing balance
Computer Equipment Full month reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2023: 14)
21 14
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 119,552
Additions 21,543
As at 31 August 2024 141,095
Amortisation
As at 1 September 2023 98,449
Provided during the period 7,245
As at 31 August 2024 105,694
Net Book Value
As at 31 August 2024 35,401
As at 1 September 2023 21,103
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Page 4
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 1,100 8,614 9,714
Additions 6,370 1,978 8,348
As at 31 August 2024 7,470 10,592 18,062
Depreciation
As at 1 September 2023 (19,558 ) 2,884 (16,674 )
Provided during the period 21,427 1,509 22,936
As at 31 August 2024 1,869 4,393 6,262
Net Book Value
As at 31 August 2024 5,601 6,199 11,800
As at 1 September 2023 20,658 5,730 26,388
6. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Trade debtors 137,947 36,215
Prepayments and accrued income 17,004 2,738
Other debtors 2,184 78,830
Corporation tax recoverable assets - 49,451
Directors' loan accounts 18,686 24,953
175,821 192,187
7. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Trade creditors 119,641 87,222
Bank loans and overdrafts 5,601 5,601
Credit Cards 9,161 6,758
Corporation tax 952 -
Other taxes and social security 311,386 16,547
VAT 200,980 113,445
Net wages 17,803 21,940
Pension 15,958 -
Other loans 14,700 15,000
Advance Share Subscriptions 504,999 -
Factoring Creditor - Repayments 56,426 -
Accruals and deferred income 129,545 45,221
Directors' loan accounts 198 198
1,387,350 311,932
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
31 August 2024 31 August 2023
£ £
Bounce Back loans 26,604 32,205
9. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 2 3
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Michael Heverin 3,208 - - - 3,208
Mr Dan Price 21,744 34 6,300 - 15,478
The above loan is unsecured, interest free and repayable on demand.
Page 5