Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 NI682878 Mr John Woods iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI682878 2023-10-31 NI682878 2024-10-31 NI682878 2023-11-01 2024-10-31 NI682878 frs-core:CurrentFinancialInstruments 2024-10-31 NI682878 frs-core:ComputerEquipment 2024-10-31 NI682878 frs-core:ComputerEquipment 2023-11-01 2024-10-31 NI682878 frs-core:ComputerEquipment 2023-10-31 NI682878 frs-core:FurnitureFittings 2024-10-31 NI682878 frs-core:FurnitureFittings 2023-11-01 2024-10-31 NI682878 frs-core:FurnitureFittings 2023-10-31 NI682878 frs-core:MotorVehicles 2024-10-31 NI682878 frs-core:MotorVehicles 2023-11-01 2024-10-31 NI682878 frs-core:MotorVehicles 2023-10-31 NI682878 frs-core:PlantMachinery 2024-10-31 NI682878 frs-core:PlantMachinery 2023-11-01 2024-10-31 NI682878 frs-core:PlantMachinery 2023-10-31 NI682878 frs-core:ShareCapital 2024-10-31 NI682878 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI682878 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI682878 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 NI682878 frs-bus:SmallEntities 2023-11-01 2024-10-31 NI682878 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 NI682878 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI682878 frs-bus:Director1 2023-11-01 2024-10-31 NI682878 frs-countries:NorthernIreland 2023-11-01 2024-10-31 NI682878 2022-10-31 NI682878 2023-10-31 NI682878 2022-11-01 2023-10-31 NI682878 frs-core:CurrentFinancialInstruments 2023-10-31 NI682878 frs-core:ShareCapital 2023-10-31 NI682878 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: NI682878
The Home Solution Shop Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
McCleary & Company Ltd.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI682878
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,287 47,114
35,287 47,114
CURRENT ASSETS
Stocks 5 17,394 12,083
Debtors 6 269,072 157,032
Cash at bank and in hand 98,224 139,560
384,690 308,675
Creditors: Amounts Falling Due Within One Year 7 (192,648 ) (187,845 )
NET CURRENT ASSETS (LIABILITIES) 192,042 120,830
TOTAL ASSETS LESS CURRENT LIABILITIES 227,329 167,944
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,879 ) (7,044 )
NET ASSETS 222,450 160,900
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 222,440 160,890
SHAREHOLDERS' FUNDS 222,450 160,900
Page 1
Page 2
For the year ending 31 October 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 Profit and Loss Account.
On behalf of the board
Mr John Woods
Director
2 June 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
The Home Solution Shop Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI682878 . The registered office is Quaker Buildings High Street, Lurgan, Craigavon, Co. Armagh, BT66 8BB.
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 represents the total invoice value, excluding value added tax, of sales made during the period and derives from the provision of goods and services falling within the company's ordinary activities.
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 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 33% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 18,200 41,810 700 700 61,410
As at 31 October 2024 18,200 41,810 700 700 61,410
Depreciation
As at 1 November 2023 7,963 5,561 386 386 14,296
Provided during the period 2,559 9,062 103 103 11,827
As at 31 October 2024 10,522 14,623 489 489 26,123
Net Book Value
As at 31 October 2024 7,678 27,187 211 211 35,287
As at 1 November 2023 10,237 36,249 314 314 47,114
5. Stocks
2024 2023
£ £
Stock 17,394 12,083
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 247,916 136,967
Other debtors 21,156 20,065
269,072 157,032
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 119,293 106,073
Other creditors 49,144 59,002
Taxation and social security 24,211 22,770
192,648 187,845
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4