Acorah Software Products - Accounts Production 16.2.850 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10215562 Richard Looms Claire Looms Richard and Claire Looms true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10215562 2023-06-30 10215562 2024-06-30 10215562 2023-07-01 2024-06-30 10215562 frs-core:CurrentFinancialInstruments 2024-06-30 10215562 frs-core:ComputerEquipment 2024-06-30 10215562 frs-core:ComputerEquipment 2023-07-01 2024-06-30 10215562 frs-core:ComputerEquipment 2023-06-30 10215562 frs-core:MotorVehicles 2024-06-30 10215562 frs-core:MotorVehicles 2023-07-01 2024-06-30 10215562 frs-core:MotorVehicles 2023-06-30 10215562 frs-core:ShareCapital 2024-06-30 10215562 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10215562 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10215562 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10215562 frs-bus:SmallEntities 2023-07-01 2024-06-30 10215562 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10215562 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10215562 frs-bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10215562 frs-bus:OrdinaryShareClass1 2024-06-30 10215562 1 2023-07-01 2024-06-30 10215562 frs-bus:Director1 2023-07-01 2024-06-30 10215562 frs-bus:Director2 2023-07-01 2024-06-30 10215562 frs-countries:EnglandWales 2023-07-01 2024-06-30 10215562 2022-06-30 10215562 2023-06-30 10215562 2022-07-01 2023-06-30 10215562 frs-core:CurrentFinancialInstruments 2023-06-30 10215562 frs-core:ShareCapital 2023-06-30 10215562 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 10215562 frs-bus:OrdinaryShareClass1 2022-07-01 2023-06-30
Registered number: 10215562
Richard Looms Limited
Financial Statements
For The Year Ended 30 June 2024
Kennedy Johnson
83 Carlton Drive
Wigston
LE18 1DG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10215562
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,169 1,393
20,169 1,393
CURRENT ASSETS
Stocks 5 463 510
Debtors 6 514 586
Cash at bank and in hand 16,654 29,139
17,631 30,235
Creditors: Amounts Falling Due Within One Year 7 (2,571 ) (5,817 )
NET CURRENT ASSETS (LIABILITIES) 15,060 24,418
TOTAL ASSETS LESS CURRENT LIABILITIES 35,229 25,811
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (2,802 ) (264 )
NET ASSETS 32,427 25,547
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 32,327 25,447
SHAREHOLDERS' FUNDS 32,427 25,547
Page 1
Page 2
For the year ending 30 June 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
Richard Looms
Director
Claire Looms
Director
12/12/2024
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
Richard Looms Limited Registered number 10215562 is a limited by shares company incorporated in England & Wales. The Registered Office is 83 Carlton Drive, Wigston, Leicester, LE18 1DG.
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 comprises the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 25% per annum calculated on the reducing balance.
Computer Equipment 25% per annum calculated on the reducing balance.
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks 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. 
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 - 4,303 4,303
Additions 20,130 - 20,130
As at 30 June 2024 20,130 4,303 24,433
Depreciation
As at 1 July 2023 - 2,910 2,910
Provided during the period 1,006 348 1,354
As at 30 June 2024 1,006 3,258 4,264
Net Book Value
As at 30 June 2024 19,124 1,045 20,169
As at 1 July 2023 - 1,393 1,393
5. Stocks
2024 2023
£ £
Stock - parts 463 510
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 514 586
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 744 1,024
Corporation tax - 1,040
Accruals 903 883
Directors' loan accounts 924 2,870
2,571 5,817
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 2,802 264
Page 4
Page 5
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Richard Looms 2,000 2,500
Claire Looms 2,000 2,500
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 4,000 5,000
12. Ultimate Controlling Party
The company's ultimate controlling parties are Richard and Claire Looms by virtue of their ownership of 100% of the issued share capital in the company.
Page 5