Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12711269 Ms B Lilley Mrs M D Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12711269 2023-07-31 12711269 2024-07-31 12711269 2023-08-01 2024-07-31 12711269 frs-core:CurrentFinancialInstruments 2024-07-31 12711269 frs-core:NetGoodwill 2024-07-31 12711269 frs-core:NetGoodwill 2023-08-01 2024-07-31 12711269 frs-core:NetGoodwill 2023-07-31 12711269 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 12711269 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 12711269 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 12711269 frs-core:MotorVehicles 2024-07-31 12711269 frs-core:MotorVehicles 2023-08-01 2024-07-31 12711269 frs-core:MotorVehicles 2023-07-31 12711269 frs-core:PlantMachinery 2024-07-31 12711269 frs-core:PlantMachinery 2023-08-01 2024-07-31 12711269 frs-core:PlantMachinery 2023-07-31 12711269 frs-core:ShareCapital 2024-07-31 12711269 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12711269 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12711269 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12711269 frs-bus:SmallEntities 2023-08-01 2024-07-31 12711269 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12711269 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12711269 frs-bus:Director1 2023-08-01 2024-07-31 12711269 frs-bus:Director2 2023-08-01 2024-07-31 12711269 frs-countries:EnglandWales 2023-08-01 2024-07-31 12711269 2022-07-31 12711269 2023-07-31 12711269 2022-08-01 2023-07-31 12711269 frs-core:CurrentFinancialInstruments 2023-07-31 12711269 frs-core:ShareCapital 2023-07-31 12711269 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12711269
The Fashion Shop Ltd
Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12711269
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,800 9,600
Tangible Assets 5 127,913 147,983
132,713 157,583
CURRENT ASSETS
Stocks 6 110,641 108,596
Debtors 7 825 612
Cash at bank and in hand 294,695 290,845
406,161 400,053
Creditors: Amounts Falling Due Within One Year 8 (328,195 ) (362,091 )
NET CURRENT ASSETS (LIABILITIES) 77,966 37,962
TOTAL ASSETS LESS CURRENT LIABILITIES 210,679 195,545
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,676 ) (24,102 )
NET ASSETS 190,003 171,443
CAPITAL AND RESERVES
Called up share capital 9 102 102
Profit and Loss Account 189,901 171,341
SHAREHOLDERS' FUNDS 190,003 171,443
Page 1
Page 2
For the year ending 31 July 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
Ms B Lilley
Director
Mrs M D Wilson
Director
16 April 2025
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
The Fashion Shop Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12711269 . The registered office is 34 High Street, Market Warsop, Mansfield, Nottinghamshire, NG20 0AE.
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 five 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 10% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 20% on reducing balance
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
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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 12)
13 12
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 24,000
As at 31 July 2024 24,000
Amortisation
As at 1 August 2023 14,400
Provided during the period 4,800
As at 31 July 2024 19,200
Net Book Value
As at 31 July 2024 4,800
As at 1 August 2023 9,600
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 August 2023 136,365 18,587 34,000 188,952
Additions - 1,808 - 1,808
As at 31 July 2024 136,365 20,395 34,000 190,760
Depreciation
As at 1 August 2023 25,909 8,260 6,800 40,969
Provided during the period 13,637 2,801 5,440 21,878
As at 31 July 2024 39,546 11,061 12,240 62,847
Net Book Value
As at 31 July 2024 96,819 9,334 21,760 127,913
As at 1 August 2023 110,456 10,327 27,200 147,983
6. Stocks
2024 2023
£ £
Stock 110,641 108,596
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 825 612
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,234 38,812
Other creditors 283,586 279,761
Taxation and social security 27,375 43,518
328,195 362,091
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
Page 5