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Registered number: 11958586
Resource Building & Interiors Ltd
Financial Statements
For The Year Ended 30 April 2024
H B Mistry & Co Ltd
Chartered accountants
Tudor House Mill Lane
Calcot
Reading
RG31 7RS
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 11958586
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 140,902 79,988
Cash at bank and in hand 377,434 575,526
518,336 655,514
Creditors: Amounts Falling Due Within One Year 6 (393,990 ) (522,438 )
NET CURRENT ASSETS (LIABILITIES) 124,346 133,076
TOTAL ASSETS LESS CURRENT LIABILITIES 124,346 133,076
Creditors: Amounts Falling Due After More Than One Year 7 (27,122 ) (31,724 )
NET ASSETS 97,224 101,352
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 97,223 101,351
SHAREHOLDERS' FUNDS 97,224 101,352
For the year ending 30 April 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 Nathan Harley
Director
28th April 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Resource Building & Interiors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11958586 . The registered office is The Nurseries, Midgham, Reading, Berkshire, RG7 5XB.
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% Straight line
2.4. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 4 (2023: 2)
4 2
Page 2
Page 3
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 May 2023 2,490
As at 30 April 2024 2,490
Depreciation
As at 1 May 2023 2,490
As at 30 April 2024 2,490
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 137,017 76,129
Prepayments and accrued income 2,602 2,576
Other debtors 1,283 1,283
140,902 79,988
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 155,508 173,554
Bank loans and overdrafts 4,680 4,680
Corporation tax 20,332 36,598
CIS 1,362 1,526
VAT 26,302 84,345
PAYE and NI 1,807 2,161
Accruals and deferred income 182,188 211,745
Director's loan account 1,811 7,829
393,990 522,438
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,122 31,724
8. Deferred Taxation
The provision for deferred tax is made up as follows:
No provision for deferred tax is required for accelerated capital allowances.
Page 3
Page 4
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following amount owed to the director:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Nathan Harley (7,829 ) - 6,018 - (1,811 )
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Nathan Harley 70,000 49,000
Page 4