Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 07012544 Mrs Julie Gavin Wilkinson Accounting Solutions Ltd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07012544 2023-09-30 07012544 2024-09-30 07012544 2023-10-01 2024-09-30 07012544 frs-core:CurrentFinancialInstruments 2024-09-30 07012544 frs-core:PlantMachinery 2024-09-30 07012544 frs-core:PlantMachinery 2023-10-01 2024-09-30 07012544 frs-core:PlantMachinery 2023-09-30 07012544 frs-core:ShareCapital 2024-09-30 07012544 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 07012544 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07012544 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 07012544 frs-bus:SmallEntities 2023-10-01 2024-09-30 07012544 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07012544 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07012544 frs-bus:Director1 2023-10-01 2024-09-30 07012544 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 07012544 frs-core:CurrentFinancialInstruments 2 2024-09-30 07012544 frs-countries:EnglandWales 2023-10-01 2024-09-30 07012544 2022-09-30 07012544 2023-09-30 07012544 2022-10-01 2023-09-30 07012544 frs-core:CurrentFinancialInstruments 2023-09-30 07012544 frs-core:ShareCapital 2023-09-30 07012544 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 07012544 frs-core:CurrentFinancialInstruments 2 2023-09-30
Registered number: 07012544
Cleave Fine Art Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Wilkinson Accounting Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07012544
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 918 1,119
918 1,119
CURRENT ASSETS
Stocks 5 121,869 200,376
Investments 6 - 53,793
Cash at bank and in hand 51 9
121,920 254,178
Creditors: Amounts Falling Due Within One Year 7 (193,496 ) (353,260 )
NET CURRENT ASSETS (LIABILITIES) (71,576 ) (99,082 )
TOTAL ASSETS LESS CURRENT LIABILITIES (70,658 ) (97,963 )
NET LIABILITIES (70,658 ) (97,963 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (70,758 ) (98,063 )
SHAREHOLDERS' FUNDS (70,658) (97,963)
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For the year ending 30 September 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 Julie Gavin
Director
25/06/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cleave Fine Art Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07012544 . The registered office is Stuart House East Wing, St Johns Street, Peterborough, PE1 5DD.
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 not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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:
Plant & Machinery 18% 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.
Trade Creditors
Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts Payable are classified as current liabilities if the company does not have an unconditional right at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2023 8,691
As at 30 September 2024 8,691
Depreciation
As at 1 October 2023 7,572
Provided during the period 201
As at 30 September 2024 7,773
Net Book Value
As at 30 September 2024 918
As at 1 October 2023 1,119
5. Stocks
2024 2023
£ £
Stock 121,869 200,376
6. Current Asset Investments
2024 2023
£ £
Listed investments - 53,793
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Creditors - Trade and accruals 2,433 2,385
Director's loan account 191,063 350,875
193,496 353,260
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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