Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 2727570 Mr Colin Duddridge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 2727570 2023-08-31 2727570 2024-08-31 2727570 2023-09-01 2024-08-31 2727570 frs-core:CurrentFinancialInstruments 2024-08-31 2727570 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 2727570 frs-core:FurnitureFittings 2024-08-31 2727570 frs-core:FurnitureFittings 2023-09-01 2024-08-31 2727570 frs-core:FurnitureFittings 2023-08-31 2727570 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 2727570 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 2727570 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 2727570 frs-core:MotorVehicles 2024-08-31 2727570 frs-core:MotorVehicles 2023-09-01 2024-08-31 2727570 frs-core:MotorVehicles 2023-08-31 2727570 frs-core:OtherResidualIntangibleAssets 2024-08-31 2727570 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 2727570 frs-core:OtherResidualIntangibleAssets 2023-08-31 2727570 frs-core:ShareCapital 2024-08-31 2727570 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 2727570 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 2727570 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 2727570 frs-bus:SmallEntities 2023-09-01 2024-08-31 2727570 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 2727570 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 2727570 frs-bus:Director1 2023-09-01 2024-08-31 2727570 frs-countries:EnglandWales 2023-09-01 2024-08-31 2727570 2022-08-31 2727570 2023-08-31 2727570 2022-09-01 2023-08-31 2727570 frs-core:CurrentFinancialInstruments 2023-08-31 2727570 frs-core:ShareCapital 2023-08-31 2727570 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 2727570
Industrial and Catering Industries Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 2727570
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 356 -
Tangible Assets 5 51,641 41,593
51,997 41,593
CURRENT ASSETS
Stocks 6 27,600 25,650
Debtors 7 35,441 46,081
Cash at bank and in hand 117,382 125,927
180,423 197,658
Creditors: Amounts Falling Due Within One Year 8 (39,655 ) (56,813 )
NET CURRENT ASSETS (LIABILITIES) 140,768 140,845
TOTAL ASSETS LESS CURRENT LIABILITIES 192,765 182,438
NET ASSETS 192,765 182,438
CAPITAL AND RESERVES
Called up share capital 9 25,000 25,000
Profit and Loss Account 167,765 157,438
SHAREHOLDERS' FUNDS 192,765 182,438
Page 1
Page 2
For the year ending 31 August 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 Colin Duddridge
Director
14/02/2025
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
Industrial and Catering Industries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 2727570 . The registered office is Sterling Works Unit 3, Parklands Industrial Estate, Cardiff, CF24 5JP.
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 - Other Intangible
Other intangible assets are website costs. They are amortised to the profit and loss account over their estimated economic life of 3 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:
Freehold Not depreciated
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 20% reducing balance basis
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. 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 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: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 3,600
Additions 356
As at 31 August 2024 3,956
Amortisation
As at 1 September 2023 3,600
As at 31 August 2024 3,600
Net Book Value
As at 31 August 2024 356
As at 1 September 2023 -
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 40,000 7,490 22,084 69,574
Additions - 12,483 - 12,483
As at 31 August 2024 40,000 19,973 22,084 82,057
Depreciation
As at 1 September 2023 - 6,781 21,200 27,981
Provided during the period - 2,258 177 2,435
As at 31 August 2024 - 9,039 21,377 30,416
Net Book Value
As at 31 August 2024 40,000 10,934 707 51,641
As at 1 September 2023 40,000 709 884 41,593
Page 4
Page 5
6. Stocks
2024 2023
£ £
Finished goods 27,600 25,650
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,729 44,150
Prepayments and accrued income - 1,600
Other taxes and social security 712 331
35,441 46,081
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,042 20,351
Corporation tax 332 3,031
VAT 4,093 3,648
Other creditors 124 160
Accruals and deferred income 1,100 1,100
Director's loan account 22,964 28,523
39,655 56,813
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 25,000 25,000
Page 5