Acorah Software Products - Accounts Production 16.3.350 false true true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 10039627 Mr Simon Palfreyman Mrs Kelly Palfreyman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10039627 2024-03-31 10039627 2025-03-31 10039627 2024-04-01 2025-03-31 10039627 frs-core:CurrentFinancialInstruments 2025-03-31 10039627 frs-core:Non-currentFinancialInstruments 2025-03-31 10039627 frs-core:ComputerEquipment 2025-03-31 10039627 frs-core:ComputerEquipment 2024-04-01 2025-03-31 10039627 frs-core:ComputerEquipment 2024-03-31 10039627 frs-core:FurnitureFittings 2025-03-31 10039627 frs-core:FurnitureFittings 2024-04-01 2025-03-31 10039627 frs-core:FurnitureFittings 2024-03-31 10039627 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 10039627 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-01 2025-03-31 10039627 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 10039627 frs-core:MotorVehicles 2025-03-31 10039627 frs-core:MotorVehicles 2024-04-01 2025-03-31 10039627 frs-core:MotorVehicles 2024-03-31 10039627 frs-core:PlantMachinery 2025-03-31 10039627 frs-core:PlantMachinery 2024-04-01 2025-03-31 10039627 frs-core:PlantMachinery 2024-03-31 10039627 frs-core:ShareCapital 2025-03-31 10039627 frs-core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 10039627 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 10039627 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10039627 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 10039627 frs-bus:SmallEntities 2024-04-01 2025-03-31 10039627 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10039627 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10039627 frs-bus:Director1 2024-04-01 2025-03-31 10039627 frs-bus:Director2 2024-04-01 2025-03-31 10039627 frs-countries:EnglandWales 2024-04-01 2025-03-31 10039627 2023-03-31 10039627 2024-03-31 10039627 2023-04-01 2024-03-31 10039627 frs-core:CurrentFinancialInstruments 2024-03-31 10039627 frs-core:Non-currentFinancialInstruments 2024-03-31 10039627 frs-core:ShareCapital 2023-03-31 10039627 frs-core:ShareCapital 2024-03-31 10039627 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10039627 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-03-31 10039627 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 10039627
Smiles Nurseries Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Select Accountants Ltd
Shire House Business Centre
Long Street
Stoney Stanton
Leicestershire
LE9 4DQ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 10039627
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 41,337 50,942
41,337 50,942
CURRENT ASSETS
Debtors 5 71,173 45,112
Cash at bank and in hand 31,334 32,030
102,507 77,142
Creditors: Amounts Falling Due Within One Year 6 (134,362 ) (115,607 )
NET CURRENT ASSETS (LIABILITIES) (31,855 ) (38,465 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,482 12,477
Creditors: Amounts Falling Due After More Than One Year 7 (23,148 ) (28,704 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,070 ) (5,948 )
NET LIABILITIES (17,736 ) (22,175 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (17,738 ) (22,177 )
SHAREHOLDERS' FUNDS (17,736) (22,175)
Page 1
Page 2
For the year ending 31 March 2025 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 Simon Palfreyman
Director
19th June 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 2 (55,380 ) (55,378)
Profit for the year and total comprehensive income - 33,203 33,203
As at 31 March 2024 and 1 April 2024 2 (22,177 ) (22,175)
Profit for the year and total comprehensive income - 4,439 4,439
As at 31 March 2025 2 (17,738 ) (17,736)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Smiles Nurseries Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10039627 . The registered office is Rugby House, Hinckley Road, Sapcote, Leicestershire, LE9 4FS.
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 are monitoring material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, given the net current net liabilities position.
However the following factors have given the Directors reason to believe that the going concern basis remains appropriate.
  • Liquidity is being maintained from the Bounceback Loan, which remains at a ten year repayment term.
  • The continued support of the Directors, as they have personally contributed funds from personal savings to cover short term cashflow shortfalls.
  • Continued cost control the Directors & Managers. The key risks in the short term are elevated energy costs, rising salary costs from the 7% increase in the National Living Wage combined with the Employers National Insurance changes.
  • The company has maintained its profit making position,  although reduced to a 0.43% net profit ratio. 
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 rebates and other similar allowances.
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:
Leasehold 10% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 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 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
Page 4
Page 5
2.5. 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.
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 47 44
Sales, marketing and distribution 2 2
49 46
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 65,437 27,400 5,622 59,149
Additions - 2,650 - -
Disposals - (279 ) - -
As at 31 March 2025 65,437 29,771 5,622 59,149
Depreciation
As at 1 April 2024 43,856 22,574 4,872 35,727
Provided during the period 6,544 1,853 188 3,513
Disposals - (213 ) - -
As at 31 March 2025 50,400 24,214 5,060 39,240
Net Book Value
As at 31 March 2025 15,037 5,557 562 19,909
As at 1 April 2024 21,581 4,826 750 23,422
Page 5
Page 6
Computer Equipment Total
£ £
Cost
As at 1 April 2024 2,198 159,806
Additions - 2,650
Disposals - (279 )
As at 31 March 2025 2,198 162,177
Depreciation
As at 1 April 2024 1,835 108,864
Provided during the period 91 12,189
Disposals - (213 )
As at 31 March 2025 1,926 120,840
Net Book Value
As at 31 March 2025 272 41,337
As at 1 April 2024 363 50,942
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 71,173 41,112
Other debtors - 4,000
71,173 45,112
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Bank loans and overdrafts 5,556 5,555
Corporation tax 2,799 1,380
Other taxes and social security 19,757 9,848
Net wages 2,055 1,647
Other creditors 20 326
Accruals and deferred income 76,944 82,986
Directors' loan accounts 27,231 13,865
134,362 115,607
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 23,148 28,704
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
Page 6