Acorah Software Products - Accounts Production 16.2.850 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 09294013 Mr Brendan Kane Mrs Joanna Kane iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09294013 2023-10-31 09294013 2024-10-31 09294013 2023-11-01 2024-10-31 09294013 frs-core:Non-currentFinancialInstruments 2024-10-31 09294013 frs-core:BetweenOneFiveYears 2024-10-31 09294013 frs-core:ComputerEquipment 2023-11-01 2024-10-31 09294013 frs-core:FurnitureFittings 2023-11-01 2024-10-31 09294013 frs-core:MotorVehicles 2023-11-01 2024-10-31 09294013 frs-core:PlantMachinery 2023-11-01 2024-10-31 09294013 frs-core:WithinOneYear 2024-10-31 09294013 frs-core:ShareCapital 2024-10-31 09294013 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 09294013 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09294013 frs-bus:AbridgedAccounts 2023-11-01 2024-10-31 09294013 frs-bus:SmallEntities 2023-11-01 2024-10-31 09294013 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09294013 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09294013 frs-bus:Director1 2023-11-01 2024-10-31 09294013 frs-bus:Director2 2023-11-01 2024-10-31 09294013 frs-countries:EnglandWales 2023-11-01 2024-10-31 09294013 2022-10-31 09294013 2023-10-31 09294013 2022-11-01 2023-10-31 09294013 frs-core:Non-currentFinancialInstruments 2023-10-31 09294013 frs-core:BetweenOneFiveYears 2023-10-31 09294013 frs-core:WithinOneYear 2023-10-31 09294013 frs-core:ShareCapital 2023-10-31 09294013 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 09294013
BFS Nationwide Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 October 2024
Newtons Accountants Limited
Chartered Certified Accountants
470 Hucknall Road
Nottingham
Nottinghamshire
NG5 1FX
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 09294013
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 228,440 282,212
228,440 282,212
CURRENT ASSETS
Stocks 84,877 65,589
Debtors 355,713 91,778
Cash at bank and in hand 94,604 210,430
535,194 367,797
Creditors: Amounts Falling Due Within One Year (153,782 ) (79,804 )
NET CURRENT ASSETS (LIABILITIES) 381,412 287,993
TOTAL ASSETS LESS CURRENT LIABILITIES 609,852 570,205
Creditors: Amounts Falling Due After More Than One Year (16,075 ) (37,247 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (47,159 ) (57,994 )
NET ASSETS 546,618 474,964
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 546,616 474,962
SHAREHOLDERS' FUNDS 546,618 474,964
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For the year ending 31 October 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 October 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Brendan Kane
Director
Mrs Joanna Kane
Director
02/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
BFS Nationwide Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09294013 . The registered office is Unit 36, Ollerton Road, Tuxford, Newark, NG22 0PQ.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
2.4. 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.
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2.5. 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.
2.6. Taxation
The tax charge represents the sum of the corporation tax currently payable and deferred tax.
The corporation 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: 15 (2023: 14)
15 14
4. Tangible Assets
Total
£
Cost
As at 1 November 2023 480,845
Additions 9,023
Disposals (17,509 )
As at 31 October 2024 472,359
...CONTINUED
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Page 5
Depreciation
As at 1 November 2023 198,633
Provided during the period 57,295
Disposals (12,009 )
As at 31 October 2024 243,919
Net Book Value
As at 31 October 2024 228,440
As at 1 November 2023 282,212
5. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,173 11,173
Later than one year and not later than five years 10,241 21,414
21,414 32,587
21,414 32,587
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
7. Related Party Transactions
During the year the company made loans to a related party with a director and significant shareholder in common. The closing balance owing, of £170,078, is included in debtors and is considered recoverable within one year.
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