Acorah Software Products - Accounts Production 16.3.350 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 10998356 Miss Katie Smith Mr Liam Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10998356 2023-10-31 10998356 2024-10-31 10998356 2023-11-01 2024-10-31 10998356 frs-core:CurrentFinancialInstruments 2024-10-31 10998356 frs-core:Non-currentFinancialInstruments 2024-10-31 10998356 frs-core:FurnitureFittings 2024-10-31 10998356 frs-core:FurnitureFittings 2023-11-01 2024-10-31 10998356 frs-core:FurnitureFittings 2023-10-31 10998356 frs-core:ShareCapital 2024-10-31 10998356 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 10998356 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 10998356 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 10998356 frs-bus:SmallEntities 2023-11-01 2024-10-31 10998356 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 10998356 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 10998356 frs-bus:Director1 2023-11-01 2024-10-31 10998356 frs-bus:Director2 2023-11-01 2024-10-31 10998356 frs-core:CurrentFinancialInstruments 1 2024-10-31 10998356 frs-countries:EnglandWales 2023-11-01 2024-10-31 10998356 2022-10-31 10998356 2023-10-31 10998356 2022-11-01 2023-10-31 10998356 frs-core:CurrentFinancialInstruments 2023-10-31 10998356 frs-core:Non-currentFinancialInstruments 2023-10-31 10998356 frs-core:ShareCapital 2023-10-31 10998356 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 10998356 frs-core:CurrentFinancialInstruments 1 2023-10-31
Registered number: 10998356
Katies Vinyl Bar And Kitchen Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Eclipse Accountancy Ltd
Chartered Accountants
Fareham Innovation Centre
Merlin House
4 Meteor Way, Lee-on-the-Solent
Hampshire
PO13 9FU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10998356
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,251 3,661
5,251 3,661
CURRENT ASSETS
Stocks 5 13,500 10,950
Debtors 6 12,058 11,306
Cash at bank and in hand 6,746 16,202
32,304 38,458
Creditors: Amounts Falling Due Within One Year 7 (47,975 ) (45,403 )
NET CURRENT ASSETS (LIABILITIES) (15,671 ) (6,945 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,420 ) (3,284 )
Creditors: Amounts Falling Due After More Than One Year 8 (14,721 ) (21,021 )
NET LIABILITIES (25,141 ) (24,305 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (25,142 ) (24,306 )
SHAREHOLDERS' FUNDS (25,141) (24,305)
Page 1
Page 2
For the year ending 31 October 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 Liam Smith
Director
20th May 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
Katies Vinyl Bar And Kitchen Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10998356 . The registered office is 134 High Street, Gosport, PO12 1EA.
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. Going Concern Disclosure
As at the statement of financial position date the Company had net liabilities. Directors and another creditor are significant creditors of the Company and will not seek repayment of the debt until the Company can afford to repay it. Therefore, it is appropriate for the financial statements to be prepared on a going concern basis.
2.3. 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.
2.4. 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:
Fixtures & Fittings 25% reducing balance
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 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
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 10)
11 10
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2023 7,362
Additions 2,690
As at 31 October 2024 10,052
Depreciation
As at 1 November 2023 3,701
Provided during the period 1,100
As at 31 October 2024 4,801
Net Book Value
As at 31 October 2024 5,251
As at 1 November 2023 3,661
5. Stocks
2024 2023
£ £
Materials 13,500 10,950
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,072 646
Other debtors 5,250 5,250
Deferred tax current asset 5,600 5,410
Other taxes and social security 136 -
12,058 11,306
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,228 2,384
Corporation tax 26 26
Other taxes and social security - 951
VAT 9,631 8,861
Employee Loan 17,729 17,729
Directors' loan accounts 19,361 15,452
47,975 45,403
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,721 21,021
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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