Acorah Software Products - Accounts Production 16.3.350 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 3221700 Mr Philip Cheshire Mrs Elaine Cheshire Mr P A Cheshire and Mrs E I Cheshire true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 3221700 2023-12-31 3221700 2024-12-31 3221700 2024-01-01 2024-12-31 3221700 frs-core:CurrentFinancialInstruments 2024-12-31 3221700 frs-core:FurnitureFittings 2024-12-31 3221700 frs-core:FurnitureFittings 2024-01-01 2024-12-31 3221700 frs-core:FurnitureFittings 2023-12-31 3221700 frs-core:PlantMachinery 2024-12-31 3221700 frs-core:PlantMachinery 2024-01-01 2024-12-31 3221700 frs-core:PlantMachinery 2023-12-31 3221700 frs-core:RevaluationReserve 2023-12-31 3221700 frs-core:RevaluationReserve 2024-12-31 3221700 frs-core:ShareCapital 2024-12-31 3221700 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 3221700 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 3221700 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 3221700 frs-bus:SmallEntities 2024-01-01 2024-12-31 3221700 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 3221700 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 3221700 frs-bus:OrdinaryShareClass1 2024-01-01 2024-12-31 3221700 frs-bus:OrdinaryShareClass1 2024-12-31 3221700 1 2024-01-01 2024-12-31 3221700 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31 3221700 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-12-31 3221700 frs-bus:Director1 2024-01-01 2024-12-31 3221700 frs-bus:Director2 2024-01-01 2024-12-31 3221700 frs-countries:EnglandWales 2024-01-01 2024-12-31 3221700 2022-12-31 3221700 2023-12-31 3221700 2023-01-01 2023-12-31 3221700 frs-core:CurrentFinancialInstruments 2023-12-31 3221700 frs-core:RevaluationReserve 2023-12-31 3221700 frs-core:ShareCapital 2023-12-31 3221700 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 3221700 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 3221700 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-12-31
Registered number: 3221700
Straight Grain Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tony R Pomfret & Associates
37a High Street
Hoddesdon
EN11 8TA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 3221700
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,678 4,112
Investment Properties 5 525,000 525,000
528,678 529,112
CURRENT ASSETS
Debtors 6 42,000 -
Cash at bank and in hand 5,880 63,501
47,880 63,501
Creditors: Amounts Falling Due Within One Year 7 (11,208 ) (6,460 )
NET CURRENT ASSETS (LIABILITIES) 36,672 57,041
TOTAL ASSETS LESS CURRENT LIABILITIES 565,350 586,153
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (699 ) (782 )
NET ASSETS 564,651 585,371
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 70,013 70,013
Non-distributable Reserve 10 45,000 45,000
Profit and Loss Account 449,636 470,356
SHAREHOLDERS' FUNDS 564,651 585,371
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For the year ending 31 December 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 Philip Cheshire
Director
25/04/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Straight Grain Limited Registered number 3221700 is a limited by shares company incorporated in England & Wales. The Registered Office is 37A High Street, Hoddesdon, Herts, EN11 8TA.
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 form 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 stated at cost less depreciation. 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 10% Reducing Balance
Fixtures & Fittings 12.5% Straight Line
2.4. Investment Properties
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value.
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2.5. 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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 9,324 13,593 22,917
As at 31 December 2024 9,324 13,593 22,917
Depreciation
As at 1 January 2024 5,745 13,060 18,805
Provided during the period 358 76 434
As at 31 December 2024 6,103 13,136 19,239
Net Book Value
As at 31 December 2024 3,221 457 3,678
As at 1 January 2024 3,579 533 4,112
The 2023 valuations for the Investment Property were made by the directors on an open market value for existing use basis. The Directors consider the current valuation to be a fair representation of the current open market value for 2024.
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5. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 525,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 42,000 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 7,776 6,373
Taxation and social security 3,432 87
11,208 6,460
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 699 782
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
10. Reserves
Revaluation Reserve Fair Value Reserve
£ £
As at 1 January 2024 70,013 45,000
As at 31 December 2024 70,013 45,000
11. Related Party Transactions
At the Balance Sheet date the company owed £3,402 (2023 £2,664) to Mr P A Cheshire and Mrs E I Cheshire, who are directors and shareholders of the company.
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12. Ultimate Controlling Party
The company's ultimate controlling party is Mr P A Cheshire and Mrs E I Cheshire by virtue of their ownership of 100% of the issued share capital in the company.
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