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Registered number: 06586924
Stiddard Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Bowyer Pounds & Co
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 06586924
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 673,681 687,839
673,681 687,839
CURRENT ASSETS
Debtors 6 359,932 -
Investments 7 50 75,325
Cash at bank and in hand 4,151 25,183
364,133 100,508
Creditors: Amounts Falling Due Within One Year 8 (391,588 ) (547,265 )
NET CURRENT ASSETS (LIABILITIES) (27,455 ) (446,757 )
TOTAL ASSETS LESS CURRENT LIABILITIES 646,226 241,082
Creditors: Amounts Falling Due After More Than One Year 9 - (70,384 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,489 ) (1,985 )
NET ASSETS 644,737 168,713
CAPITAL AND RESERVES
Called up share capital 10 2 2
Income Statement 644,735 168,711
SHAREHOLDERS' FUNDS 644,737 168,713
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 Income Statement.
On behalf of the board
Mr Robert Stiddard
Director
31/05/2025
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
Stiddard Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06586924 . The registered office is 17 Gloucester Place, Mumbles, Swansea, SA34LF.
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 income statement over its estimated economic life of .... 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 2% Straight Line (Buildings Only)
Fixtures & Fittings 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 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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 100,678
As at 31 August 2024 100,678
Amortisation
As at 1 September 2023 100,678
As at 31 August 2024 100,678
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 748,283 78,233 826,516
As at 31 August 2024 748,283 78,233 826,516
Depreciation
As at 1 September 2023 70,890 67,787 138,677
Provided during the period 11,547 2,611 14,158
As at 31 August 2024 82,437 70,398 152,835
Net Book Value
As at 31 August 2024 665,846 7,835 673,681
As at 1 September 2023 677,393 10,446 687,839
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 359,932 -
7. Current Asset Investments
2024 2023
£ £
Unlisted investments 50 75,325
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (2 )
Bank loans and overdrafts 70,674 15,897
Other loans - (6,000 )
Amounts owed to group undertakings - 54,336
Amounts owed to participating interests 314,000 205,965
Other creditors 2,729 251,687
Taxation and social security 4,185 25,382
391,588 547,265
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans - 70,384
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Related Party Transactions
Stiddard (UK) Limited is a 100% subsidiary of the company. Therefore, a related party. The company owes
£nil (2023: £54,300) at the end of the accounting year.
The following amounts are due from related parties at the end of the accounting year:
· Innovare Design Limited - £25,000 (2023: £nil)
The following amounts are due to related parties at the end of the accounting year:
· One Polo (UK) Limited - £315,000 (2023: £150,000)
· HM Dubai Holdings Limited - £24,000 (2023: £56,000)
Robert Stiddard is the director of the company, therefore related party. The company owes him £729
(2023: £247,487) at the end of the accounting year.
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