Acorah Software Products - Accounts Production 16.3.350 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07333847 Mrs Bernadette Holmes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07333847 2023-08-31 07333847 2024-08-31 07333847 2023-09-01 2024-08-31 07333847 frs-core:CurrentFinancialInstruments 2024-08-31 07333847 frs-core:Non-currentFinancialInstruments 2024-08-31 07333847 frs-core:ComputerEquipment 2024-08-31 07333847 frs-core:ComputerEquipment 2023-09-01 2024-08-31 07333847 frs-core:ComputerEquipment 2023-08-31 07333847 frs-core:FurnitureFittings 2024-08-31 07333847 frs-core:FurnitureFittings 2023-09-01 2024-08-31 07333847 frs-core:FurnitureFittings 2023-08-31 07333847 frs-core:NetGoodwill 2024-08-31 07333847 frs-core:NetGoodwill 2023-09-01 2024-08-31 07333847 frs-core:NetGoodwill 2023-08-31 07333847 frs-core:MotorVehicles 2024-08-31 07333847 frs-core:MotorVehicles 2023-09-01 2024-08-31 07333847 frs-core:MotorVehicles 2023-08-31 07333847 frs-core:ShareCapital 2024-08-31 07333847 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07333847 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07333847 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07333847 frs-bus:SmallEntities 2023-09-01 2024-08-31 07333847 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07333847 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07333847 frs-bus:Director1 2023-09-01 2024-08-31 07333847 frs-bus:Director1 2023-08-31 07333847 frs-bus:Director1 2024-08-31 07333847 frs-core:CurrentFinancialInstruments 1 2024-08-31 07333847 frs-core:CurrentFinancialInstruments 3 2024-08-31 07333847 frs-countries:EnglandWales 2023-09-01 2024-08-31 07333847 2022-08-31 07333847 2023-08-31 07333847 2022-09-01 2023-08-31 07333847 frs-core:CurrentFinancialInstruments 2023-08-31 07333847 frs-core:Non-currentFinancialInstruments 2023-08-31 07333847 frs-core:ShareCapital 2023-08-31 07333847 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 07333847 frs-core:CurrentFinancialInstruments 1 2023-08-31 07333847 frs-core:CurrentFinancialInstruments 3 2023-08-31
Registered number: 07333847
Chase Holmes Sales Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Newton and Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07333847
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,848 5,132
3,848 5,132
CURRENT ASSETS
Stocks 6 14,114 2,345
Debtors 7 32,417 35,562
Cash at bank and in hand - 4,906
46,531 42,813
Creditors: Amounts Falling Due Within One Year 8 (181,301 ) (65,591 )
NET CURRENT ASSETS (LIABILITIES) (134,770 ) (22,778 )
TOTAL ASSETS LESS CURRENT LIABILITIES (130,922 ) (17,646 )
Creditors: Amounts Falling Due After More Than One Year 9 (65,475 ) (81,708 )
NET LIABILITIES (196,397 ) (99,354 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (196,398 ) (99,355 )
SHAREHOLDERS' FUNDS (196,397) (99,354)
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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 her 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
Mrs Bernadette Holmes
Director
16/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Chase Holmes Sales Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07333847 . The registered office is 73 Station Road, Hebburn, Tyne and Wear, NE31 1AL.
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
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
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. 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 .... years.
2.5. 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.6. 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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 14)
13 14
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 25,000
As at 31 August 2024 25,000
Amortisation
As at 1 September 2023 25,000
As at 31 August 2024 25,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 1,000 18,405 20,203 39,608
As at 31 August 2024 1,000 18,405 20,203 39,608
Depreciation
As at 1 September 2023 578 17,285 16,613 34,476
Provided during the period 106 280 898 1,284
As at 31 August 2024 684 17,565 17,511 35,760
...CONTINUED
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Net Book Value
As at 31 August 2024 316 840 2,692 3,848
As at 1 September 2023 422 1,120 3,590 5,132
6. Stocks
2024 2023
£ £
Work in progress 14,114 2,345
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,647 14,777
Prepayments and accrued income 550 500
D Holmes - Staff Loan 3,220 4,480
Director's loan account - 15,805
32,417 35,562
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,278 10,697
Bank loans and overdrafts 18,688 7,258
Funding Circle Loan 12,000 12,000
Corporation tax (5,781 ) (5,781 )
PAYE & Social Security (Current liabilities - creditors < 1 year) 3,706 3,015
VAT 12,443 11,023
Wages Control Account (Current liabilities - creditors < 1 year) 14,387 15,873
Other creditors 43,092 10,927
Pension Control Account (Current liabilities - creditors < 1 year) 772 579
Other creditors (3) 30,500 -
Director's loan account 40,216 -
181,301 65,591
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 34,475 38,708
Funding Circle Loan over 1 year 31,000 43,000
65,475 81,708
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mrs Bernadette Holmes 15,805 - 15,805 - -
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
During the period Chase Holmes Sales Ltd has borrwed / loaned £30,500.00 from Chase Holmes Lettings Ltd (Co Number 07333880). This company director/sharehold is Mr David Holmes, the husband of Mrs Bernadette Jacqueline Holmes. The loan as at 31st August 2024 was £30,500.00.
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