Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 November 2021 false 1 April 2023 31 March 2024 31 March 2024 12934066 Mr Ian Clayton-Smith Rushey Hill Limited 66 Haven Way, Newhaven, Sussex, BN9 9TD false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12934066 2023-03-31 12934066 2024-03-31 12934066 2023-04-01 2024-03-31 12934066 frs-core:CurrentFinancialInstruments 2024-03-31 12934066 frs-core:Non-currentFinancialInstruments 2024-03-31 12934066 frs-core:BetweenOneFiveYears 2024-03-31 12934066 frs-core:ComputerEquipment 2024-03-31 12934066 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12934066 frs-core:ComputerEquipment 2023-03-31 12934066 frs-core:NetGoodwill 2024-03-31 12934066 frs-core:NetGoodwill 2023-04-01 2024-03-31 12934066 frs-core:NetGoodwill 2023-03-31 12934066 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 12934066 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12934066 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 12934066 frs-core:MotorVehicles 2024-03-31 12934066 frs-core:MotorVehicles 2023-04-01 2024-03-31 12934066 frs-core:MotorVehicles 2023-03-31 12934066 frs-core:PlantMachinery 2024-03-31 12934066 frs-core:PlantMachinery 2023-04-01 2024-03-31 12934066 frs-core:PlantMachinery 2023-03-31 12934066 frs-core:WithinOneYear 2024-03-31 12934066 frs-core:ShareCapital 2024-03-31 12934066 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12934066 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12934066 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12934066 frs-bus:SmallEntities 2023-04-01 2024-03-31 12934066 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12934066 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12934066 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 12934066 frs-bus:OrdinaryShareClass1 2024-03-31 12934066 1 2023-04-01 2024-03-31 12934066 frs-bus:Director1 2023-04-01 2024-03-31 12934066 frs-core:CurrentFinancialInstruments 1 2024-03-31 12934066 frs-countries:EnglandWales 2023-04-01 2024-03-31 12934066 2021-10-31 12934066 2023-03-31 12934066 2021-11-01 2023-03-31 12934066 frs-core:CurrentFinancialInstruments 2023-03-31 12934066 frs-core:Non-currentFinancialInstruments 2023-03-31 12934066 frs-core:BetweenOneFiveYears 2023-03-31 12934066 frs-core:WithinOneYear 2023-03-31 12934066 frs-core:ShareCapital 2023-03-31 12934066 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 12934066 frs-bus:OrdinaryShareClass1 2021-11-01 2023-03-31 12934066 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 12934066
Nursted Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Simon John Flory Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12934066
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 102,113 42,974
Tangible Assets 5 40,420 297,383
142,533 340,357
CURRENT ASSETS
Stocks 6 - 138,644
Debtors 7 156,459 605,413
Cash at bank and in hand 15,552 7,849
172,011 751,906
Creditors: Amounts Falling Due Within One Year 8 (419,254 ) (1,031,851 )
NET CURRENT ASSETS (LIABILITIES) (247,243 ) (279,945 )
TOTAL ASSETS LESS CURRENT LIABILITIES (104,710 ) 60,412
Creditors: Amounts Falling Due After More Than One Year 9 (169,171 ) (222,439 )
NET LIABILITIES (273,881 ) (162,027 )
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account (274,881 ) (163,027 )
SHAREHOLDERS' FUNDS (273,881) (162,027)
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Clayton-Smith
Director
13/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Nursted Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12934066 . The registered office is 66 Haven Way, Newhaven, East Sussex, BN9 9TD.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 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:
Freehold Depreciated over lifetime of the building.
Plant & Machinery 10% reducing balance.
Motor Vehicles 25% reducing balance.
Computer Equipment 33% straight line.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
2.7. 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.
Page 3
Page 4
2.8. 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.
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: 5 (2023: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 43,907
Additions 62,998
As at 31 March 2024 106,905
Amortisation
As at 1 April 2023 933
Provided during the period 3,859
As at 31 March 2024 4,792
Net Book Value
As at 31 March 2024 102,113
As at 1 April 2023 42,974
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 33,144 274,814 8,000 945 316,903
Additions - 4,063 - 3,491 7,554
Disposals - (278,877 ) - - (278,877 )
As at 31 March 2024 33,144 - 8,000 4,436 45,580
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 April 2023 315 17,819 1,333 53 19,520
Provided during the period 663 27,061 1,667 1,129 30,520
Disposals - (44,880 ) - - (44,880 )
As at 31 March 2024 978 - 3,000 1,182 5,160
Net Book Value
As at 31 March 2024 32,166 - 5,000 3,254 40,420
As at 1 April 2023 32,829 256,995 6,667 892 297,383
6. Stocks
31 March 2024 31 March 2023
£ £
Materials - 138,644
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 156,305 563,913
Other debtors - 41,500
VAT 154 -
156,459 605,413
Trade debtors include £151,924 (2023 - £460,777)  in respect of customer balances factored with Bibby Financial Services.
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,268 46,073
Trade creditors 2,436 5,212
Bank loans and overdrafts 126,027 335,957
Other taxes and social security 2,598 10,162
VAT - 272,311
Other creditors 57,827 167,827
Pensions payable 5,169 5,758
Accruals and deferred income 5,500 30,943
Amounts owed to group and associated companies 166,429 157,608
419,254 1,031,851
The bank loans and overdrafts represent amounts due to Bibby Financial Services in respect of amounts advanced against factored sales invoices.
These are secured by way of a debenture over the company's assets and the personal guarantee of the director.
9. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 169,171 222,439
Page 5
Page 6
10. Obligations Under Finance Leases and Hire Purchase
31 March 2024 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 53,268 46,073
Later than one year and not later than five years 169,171 222,439
222,439 268,512
222,439 268,512
11. Share Capital
31 March 2024 31 March 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.00 each 1,000 1,000
12. Parent Undertaking and Controlling Party
The company's immediate and parent undertaking is Rushey Hill Limited . Rushey Hill Limited was incorporated in the United Kingdom. The controlling party is Rushey Hill Limited who controls 85% of the shares of Nursted Limited .
Page 6