Acorah Software Products - Accounts Production 16.3.350 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09013121 Ms L A Cherry Mr A Taylor Mr R P Kesari iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09013121 2023-07-31 09013121 2024-07-31 09013121 2023-08-01 2024-07-31 09013121 frs-core:CurrentFinancialInstruments 2024-07-31 09013121 frs-core:Non-currentFinancialInstruments 2024-07-31 09013121 frs-core:ComputerEquipment 2024-07-31 09013121 frs-core:ComputerEquipment 2023-08-01 2024-07-31 09013121 frs-core:ComputerEquipment 2023-07-31 09013121 frs-core:FurnitureFittings 2024-07-31 09013121 frs-core:FurnitureFittings 2023-08-01 2024-07-31 09013121 frs-core:FurnitureFittings 2023-07-31 09013121 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 09013121 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09013121 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 09013121 frs-core:PlantMachinery 2024-07-31 09013121 frs-core:PlantMachinery 2023-08-01 2024-07-31 09013121 frs-core:PlantMachinery 2023-07-31 09013121 frs-core:ShareCapital 2024-07-31 09013121 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09013121 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09013121 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09013121 frs-bus:SmallEntities 2023-08-01 2024-07-31 09013121 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09013121 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09013121 frs-bus:Director1 2023-08-01 2024-07-31 09013121 frs-bus:Director2 2023-08-01 2024-07-31 09013121 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 09013121 frs-core:CurrentFinancialInstruments 1 2024-07-31 09013121 frs-countries:EnglandWales 2023-08-01 2024-07-31 09013121 2022-07-31 09013121 2023-07-31 09013121 2022-08-01 2023-07-31 09013121 frs-core:CurrentFinancialInstruments 2023-07-31 09013121 frs-core:Non-currentFinancialInstruments 2023-07-31 09013121 frs-core:ShareCapital 2023-07-31 09013121 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09013121 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: 09013121
Andy Taylor Limited
Unaudited 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: 09013121
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,170 402,979
27,170 402,979
CURRENT ASSETS
Stocks 5 1,018,763 1,546,982
Debtors 6 122,348 83,921
Cash at bank and in hand 13,253 12,292
1,154,364 1,643,195
Creditors: Amounts Falling Due Within One Year 7 (715,293 ) (1,153,569 )
NET CURRENT ASSETS (LIABILITIES) 439,071 489,626
TOTAL ASSETS LESS CURRENT LIABILITIES 466,241 892,605
Creditors: Amounts Falling Due After More Than One Year 8 (460,971 ) (921,371 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (5,565 )
NET ASSETS/(LIABILITIES) 5,270 (34,331 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 5,269 (34,332 )
SHAREHOLDERS' FUNDS 5,270 (34,331)
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
Mr A Taylor
Director
30th 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
Andy Taylor Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09013121 . The registered office is 4 Cross Street, Beeston, Nottingham, NG9 2NX.
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:
Freehold 2.5% straight line
Plant & Machinery 18% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 3 years straight line
The fair value of the freehold property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
2.4. 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.
2.5. 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. 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 year 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 12)
10 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 422,279 84,330 13,086 10,726 530,421
Disposals (422,279 ) - - - (422,279 )
As at 31 July 2024 - 84,330 13,086 10,726 108,142
Depreciation
As at 1 August 2023 52,683 56,818 7,662 10,279 127,442
Provided during the period - 4,952 814 447 6,213
Disposals (52,683 ) - - - (52,683 )
As at 31 July 2024 - 61,770 8,476 10,726 80,972
Net Book Value
As at 31 July 2024 - 22,560 4,610 - 27,170
As at 1 August 2023 369,596 27,512 5,424 447 402,979
5. Stocks
2024 2023
£ £
Finished goods 1,018,763 1,546,982
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 78,998 70,591
Other debtors 15,000 13,330
Inter-company loan account 28,350 -
122,348 83,921
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 468,296 553,725
Bank loans and overdrafts 135,975 431,786
Corporation tax 3,575 46,607
Other taxes and social security 1,317 20,431
VAT 62,748 58,040
Other creditors 34,920 -
Accruals and deferred income 1,770 1,400
Directors' loan accounts 6,692 41,580
715,293 1,153,569
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 460,971 921,371
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
During the year, the company provided loans to the following companies under common control through a shared director. The loans are unsecured, interest-free, and repayable on demand. No provision for doubtful debts has been made, as the director considers the amounts to be fully recoverable. The balance outstanding at the year end was:
Farndon Property Ltd - £150,000 (2023: £nil)
Fairfields Estates Ltd- £20,634 (2023: £nil)
During the year, the company received loans to the following companies under common control through a shared director. The loans are unsecured, interest-free, and repayable on demand. The balance outstanding at the year end was:
Body Wizard Limited - £77,963 (2023: £nil)
Andy Taylor Properties Limited - £17,568 (2023: £nil)
Amberley Nottingham Properties Limited - £214,114 (2023: £nil)
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