Acorah Software Products - Accounts Production 16.2.800 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01540028 Mr J Elton Mrs E M Elton Mrs A M Bishop iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01540028 2023-03-31 01540028 2024-03-31 01540028 2023-04-01 2024-03-31 01540028 frs-core:CurrentFinancialInstruments 2024-03-31 01540028 frs-core:ComputerEquipment 2024-03-31 01540028 frs-core:ComputerEquipment 2023-04-01 2024-03-31 01540028 frs-core:ComputerEquipment 2023-03-31 01540028 frs-core:FurnitureFittings 2024-03-31 01540028 frs-core:FurnitureFittings 2023-04-01 2024-03-31 01540028 frs-core:FurnitureFittings 2023-03-31 01540028 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 01540028 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01540028 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 01540028 frs-core:MotorVehicles 2024-03-31 01540028 frs-core:MotorVehicles 2023-04-01 2024-03-31 01540028 frs-core:MotorVehicles 2023-03-31 01540028 frs-core:PlantMachinery 2024-03-31 01540028 frs-core:PlantMachinery 2023-04-01 2024-03-31 01540028 frs-core:PlantMachinery 2023-03-31 01540028 frs-core:RevaluationReserve 2023-03-31 01540028 frs-core:RevaluationReserve 2024-03-31 01540028 frs-core:ShareCapital 2024-03-31 01540028 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01540028 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01540028 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01540028 frs-bus:SmallEntities 2023-04-01 2024-03-31 01540028 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01540028 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01540028 frs-bus:Director1 2023-04-01 2024-03-31 01540028 frs-bus:Director1 2023-03-31 01540028 frs-bus:Director1 2024-03-31 01540028 frs-bus:Director2 2023-04-01 2024-03-31 01540028 frs-bus:Director2 2023-03-31 01540028 frs-bus:Director2 2024-03-31 01540028 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 01540028 frs-countries:EnglandWales 2023-04-01 2024-03-31 01540028 2022-03-31 01540028 2023-03-31 01540028 2022-04-01 2023-03-31 01540028 frs-core:CurrentFinancialInstruments 2023-03-31 01540028 frs-core:RevaluationReserve 2023-03-31 01540028 frs-core:ShareCapital 2023-03-31 01540028 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 01540028
John Elton (Leicester) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01540028
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,548 12,737
10,548 12,737
CURRENT ASSETS
Stocks 5 20,000 20,000
Debtors 6 81,949 98,553
Cash at bank and in hand 138,370 138,811
240,319 257,364
Creditors: Amounts Falling Due Within One Year 7 (172,652 ) (177,168 )
NET CURRENT ASSETS (LIABILITIES) 67,667 80,196
TOTAL ASSETS LESS CURRENT LIABILITIES 78,215 92,933
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,004 ) -
NET ASSETS 76,211 92,933
CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 10 49,899 49,899
Profit and Loss Account 26,212 42,934
SHAREHOLDERS' FUNDS 76,211 92,933
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For the year ending 31 March 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
Mrs E M Elton
Director
13th December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
John Elton (Leicester) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01540028 . The registered office is 4 Sunningdale Road, Leicester, LE3 1UX.
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 10% on straight line
Plant & Machinery 10% on straight line
Motor Vehicles 25% on straight line
Fixtures & Fittings 10% on straight line
Computer Equipment 33% on straight line
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. Taxation
Corporation 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 year 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 asset reflects 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 133,567 57,654 700 20,814
Additions - - - 3,890
As at 31 March 2024 133,567 57,654 700 24,704
Depreciation
As at 1 April 2023 133,567 45,740 700 20,814
Provided during the period - 5,319 - 389
As at 31 March 2024 133,567 51,059 700 21,203
Net Book Value
As at 31 March 2024 - 6,595 - 3,501
As at 1 April 2023 - 11,914 - -
Computer Equipment Total
£ £
Cost
As at 1 April 2023 9,083 221,818
Additions 416 4,306
As at 31 March 2024 9,499 226,124
Depreciation
As at 1 April 2023 8,260 209,081
Provided during the period 787 6,495
As at 31 March 2024 9,047 215,576
Net Book Value
As at 31 March 2024 452 10,548
As at 1 April 2023 823 12,737
5. Stocks
2024 2023
£ £
Stock 20,000 20,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 79,756 95,983
Prepayments and accrued income 2,193 2,570
81,949 98,553
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,910 11,949
Corporation tax - 10,742
Other taxes and social security 13,639 14,232
VAT 189 8,900
Other creditors 91 44
Accruals and deferred income 4,938 5,064
Directors' loan accounts 136,885 126,237
172,652 177,168
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from diirectors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr John Elton 85,915 (15,021 ) 13,357 - 84,252
Mrs Elaine Elton 30,312 - 10,312 - 40,624
The above loan is unsecured and repayable on demand.
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 49,899
As at 31 March 2024 49,899
11. Post Balance Sheet Events
Subsequent to the balance sheet date, Mr J Elton passed away. The director’s loan account, which was in credit at the balance sheet date, will be settled in accordance with the terms of the loan agreement and the estate’s instructions. This event does not impact the financial position of the company as of 31st March 2024.
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