Acorah Software Products - Accounts Production 16.2.850 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 08543702 Mr Sean Lalley Mr Steven Jarrett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08543702 2023-05-31 08543702 2024-05-31 08543702 2023-06-01 2024-05-31 08543702 frs-core:CurrentFinancialInstruments 2024-05-31 08543702 frs-core:Non-currentFinancialInstruments 2024-05-31 08543702 frs-core:ComputerEquipment 2024-05-31 08543702 frs-core:ComputerEquipment 2023-06-01 2024-05-31 08543702 frs-core:ComputerEquipment 2023-05-31 08543702 frs-core:NetGoodwill 2024-05-31 08543702 frs-core:NetGoodwill 2023-06-01 2024-05-31 08543702 frs-core:NetGoodwill 2023-05-31 08543702 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 08543702 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 08543702 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 08543702 frs-core:MotorVehicles 2024-05-31 08543702 frs-core:MotorVehicles 2023-06-01 2024-05-31 08543702 frs-core:MotorVehicles 2023-05-31 08543702 frs-core:PlantMachinery 2024-05-31 08543702 frs-core:PlantMachinery 2023-06-01 2024-05-31 08543702 frs-core:PlantMachinery 2023-05-31 08543702 frs-core:ShareCapital 2024-05-31 08543702 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08543702 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08543702 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 08543702 frs-bus:SmallEntities 2023-06-01 2024-05-31 08543702 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08543702 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08543702 frs-bus:Director1 2023-06-01 2024-05-31 08543702 frs-bus:Director2 2023-06-01 2024-05-31 08543702 frs-core:CurrentFinancialInstruments 1 2024-05-31 08543702 frs-core:CurrentFinancialInstruments 2 2024-05-31 08543702 frs-countries:EnglandWales 2023-06-01 2024-05-31 08543702 2022-05-31 08543702 2023-05-31 08543702 2022-06-01 2023-05-31 08543702 frs-core:CurrentFinancialInstruments 2023-05-31 08543702 frs-core:Non-currentFinancialInstruments 2023-05-31 08543702 frs-core:ShareCapital 2023-05-31 08543702 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 08543702 frs-core:CurrentFinancialInstruments 1 2023-05-31 08543702 frs-core:CurrentFinancialInstruments 2 2023-05-31
Registered number: 08543702
New Chapel Garage Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Berrywood Accountants
The New Studio
Wintershill Farm
Wintershill, Durley
Hampshire
SO32 2AH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08543702
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 80,764 63,940
80,764 63,940
CURRENT ASSETS
Debtors 6 12,653 7,500
Cash at bank and in hand 3,350 89
16,003 7,589
Creditors: Amounts Falling Due Within One Year 7 (122,292 ) (88,197 )
NET CURRENT ASSETS (LIABILITIES) (106,289 ) (80,608 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,525 ) (16,668 )
Creditors: Amounts Falling Due After More Than One Year 8 (171,195 ) (201,177 )
NET LIABILITIES (196,720 ) (217,845 )
CAPITAL AND RESERVES
Called up share capital 9 160 160
Profit and Loss Account (196,880 ) (218,005 )
SHAREHOLDERS' FUNDS (196,720) (217,845)
Page 1
Page 2
For the year ending 31 May 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 Sean Lalley
Director
20/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
New Chapel Garage Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08543702 . The registered office is 32 High Street, West End, Southampton, Hampshire, SO30 3DR.
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 7 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:
Leasehold 10% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 11)
7 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 35,000
As at 31 May 2024 35,000
Amortisation
As at 1 June 2023 35,000
As at 31 May 2024 35,000
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 3,190 199,078 88,010 582 290,860
Additions - 29,002 4,500 - 33,502
As at 31 May 2024 3,190 228,080 92,510 582 324,362
Depreciation
As at 1 June 2023 - 160,977 65,439 504 226,920
Provided during the period - 10,734 5,924 20 16,678
As at 31 May 2024 - 171,711 71,363 524 243,598
Net Book Value
As at 31 May 2024 3,190 56,369 21,147 58 80,764
As at 1 June 2023 3,190 38,101 22,571 78 63,940
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,653 7,500
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,000 3,575
Bank loans and overdrafts - 60,137
Corporation tax 15,006 3,828
Other taxes and social security 2,062 7,855
VAT 10,354 12,802
Net wages 18,732 -
Capital on Tap 555 -
Pension 1,260 -
Credit Equipment Workshop 34,802 -
Amounts owed to related parties 25,521 -
122,292 88,197
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 65,094 65,094
Directors loan account 106,101 136,083
171,195 201,177
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 160 160
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 35,000 -
Final dividend paid - 140,000
35,000 140,000
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