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 08818928 Mr M K Hussain true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08818928 2023-12-31 08818928 2024-12-31 08818928 2024-01-01 2024-12-31 08818928 frs-core:CurrentFinancialInstruments 2024-12-31 08818928 frs-core:Non-currentFinancialInstruments 2024-12-31 08818928 frs-core:FurnitureFittings 2024-01-01 2024-12-31 08818928 frs-core:MotorVehicles 2024-01-01 2024-12-31 08818928 frs-core:PlantMachinery 2024-12-31 08818928 frs-core:PlantMachinery 2024-01-01 2024-12-31 08818928 frs-core:PlantMachinery 2023-12-31 08818928 frs-core:ShareCapital 2024-12-31 08818928 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 08818928 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08818928 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 08818928 frs-bus:SmallEntities 2024-01-01 2024-12-31 08818928 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08818928 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08818928 1 2024-01-01 2024-12-31 08818928 frs-bus:Director1 2024-01-01 2024-12-31 08818928 frs-countries:EnglandWales 2024-01-01 2024-12-31 08818928 2022-12-31 08818928 2023-12-31 08818928 2023-01-01 2023-12-31 08818928 frs-core:CurrentFinancialInstruments 2023-12-31 08818928 frs-core:Non-currentFinancialInstruments 2023-12-31 08818928 frs-core:ShareCapital 2023-12-31 08818928 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 08818928
Spiceboat Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—4
Page 1
Statement of Financial Position
Registered number: 08818928
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 101,603 116,274
101,603 116,274
CURRENT ASSETS
Stocks 4 48,394 63,006
Debtors 5 40,655 51,610
89,049 114,616
Creditors: Amounts Falling Due Within One Year 6 (76,423 ) (92,710 )
NET CURRENT ASSETS (LIABILITIES) 12,626 21,906
TOTAL ASSETS LESS CURRENT LIABILITIES 114,229 138,180
Creditors: Amounts Falling Due After More Than One Year 7 (1,195 ) (11,843 )
NET ASSETS 113,034 126,337
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 112,934 126,237
SHAREHOLDERS' FUNDS 113,034 126,337
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 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 Income Statement.
On behalf of the board
Mr M K Hussain
Director
7 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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
1.4. 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.
1.5. 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.
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.
1.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
Page 2
Page 3
3. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 177,045
Additions 3,600
As at 31 December 2024 180,645
Depreciation
As at 1 January 2024 60,771
Provided during the period 18,271
As at 31 December 2024 79,042
Net Book Value
As at 31 December 2024 101,603
As at 1 January 2024 116,274
4. Stocks
2024 2023
£ £
Stock 48,394 63,006
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 37,335 42,287
Other debtors 3,320 9,323
40,655 51,610
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,623 24,077
Bank loans and overdrafts 16,767 14,347
Other creditors 28,841 54,200
Taxation and social security 192 86
76,423 92,710
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,195 11,843
Page 3
Page 4
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
At the period end, Spiceboat Limited owes £0 (2023 - £22,114) to Nessa Estates 35 Limited, a company related by key management personnel. This amount was interest free and repayable on demand.
At the period end, Spiceboat Limited owes £0 (2023 - £21,610) to Nessa Estates Limited, a company related by key management personnel. This amount was interest free and repayable on demand.
At the period end, Spiceboat Limited owes £28,449 (2023 - £0) to Broadways Maharani Limited, a company related by key management personnel. This amount is interest free and repayable on demand.
10. Ultimate Controlling Party
The ultimate controlling party is M K Hussain.
Page 4