Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 04773393 Mr Paul New Mrs Nicola New Mr Paul New iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04773393 2024-03-31 04773393 2025-03-31 04773393 2024-04-01 2025-03-31 04773393 frs-core:CurrentFinancialInstruments 2025-03-31 04773393 frs-core:Non-currentFinancialInstruments 2025-03-31 04773393 frs-core:ComputerEquipment 2024-04-01 2025-03-31 04773393 frs-core:FurnitureFittings 2024-04-01 2025-03-31 04773393 frs-core:InvestmentPropertyIncludedWithinPPE 2025-03-31 04773393 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-01 2025-03-31 04773393 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 04773393 frs-core:MotorVehicles 2024-04-01 2025-03-31 04773393 frs-core:PlantMachinery 2025-03-31 04773393 frs-core:PlantMachinery 2024-04-01 2025-03-31 04773393 frs-core:PlantMachinery 2024-03-31 04773393 frs-core:ShareCapital 2025-03-31 04773393 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 04773393 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04773393 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 04773393 frs-bus:SmallEntities 2024-04-01 2025-03-31 04773393 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04773393 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04773393 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-01 2025-03-31 04773393 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 04773393 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 04773393 frs-bus:Director1 2024-04-01 2025-03-31 04773393 frs-bus:Director2 2024-04-01 2025-03-31 04773393 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 04773393 frs-countries:EnglandWales 2024-04-01 2025-03-31 04773393 2023-03-31 04773393 2024-03-31 04773393 2023-04-01 2024-03-31 04773393 frs-core:CurrentFinancialInstruments 2024-03-31 04773393 frs-core:Non-currentFinancialInstruments 2024-03-31 04773393 frs-core:ShareCapital 2024-03-31 04773393 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04773393 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31
Registered number: 04773393
New & Tilley Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04773393
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 220,000 200,000
220,000 200,000
CURRENT ASSETS
Stocks 5 330,000 350,000
Debtors 6 750 10,015
Cash at bank and in hand 4,964 28,778
335,714 388,793
Creditors: Amounts Falling Due Within One Year 7 (377,549 ) (370,134 )
NET CURRENT ASSETS (LIABILITIES) (41,835 ) 18,659
TOTAL ASSETS LESS CURRENT LIABILITIES 178,165 218,659
Creditors: Amounts Falling Due After More Than One Year 8 (3,531 ) (13,950 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,800 ) (19,000 )
NET ASSETS 151,834 185,709
CAPITAL AND RESERVES
Called up share capital 9 50 50
Fair value reserve 10 97,200 81,000
Profit and Loss Account 54,584 104,659
SHAREHOLDERS' FUNDS 151,834 185,709
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
Mrs Nicola New
Director
16th June 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
New & Tilley Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04773393 . The registered office is 3 Royal Crescent, Cheltenham, Gloucestershire, GL50 3DA.
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. 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:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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.
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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.
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: 2 (2024: 4)
2 4
4. Tangible Assets
Investment Properties Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 April 2024 200,000 1,009 201,009
Revaluation 20,000 - 20,000
As at 31 March 2025 220,000 1,009 221,009
Depreciation
As at 1 April 2024 - 1,009 1,009
As at 31 March 2025 - 1,009 1,009
Net Book Value
As at 31 March 2025 220,000 - 220,000
As at 1 April 2024 200,000 - 200,000
Cost or valuation as at 31 March 2025 represented by:
Investment Properties Plant & Machinery Computer Equipment Total
£ £ £ £
At cost 100,000 1,009 - 101,009
At valuation 120,000 - - 120,000
220,000 1,009 - 221,009
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5. Stocks
2025 2024
£ £
Stock 330,000 350,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 750 -
Corporation tax recoverable assets - 10,015
750 10,015
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 150 6,200
Bank loans and overdrafts 10,419 10,162
Corporation tax - 3,012
Other taxes and social security - 1,822
VAT 5,228 10,339
Other creditors - 8
Accruals and deferred income 1,365 1,365
Directors' loan accounts 360,387 337,226
377,549 370,134
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 3,531 13,950
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 50 50
10. Reserves
Fair Value Reserve
£
As at 1 April 2024 81,000
Movements in fair value reserve 20,000
Transfer to profit and loss (3,800 )
As at 31 March 2025 97,200
Page 5