Acorah Software Products - Accounts Production 16.4.675 false true 27 September 2023 1 October 2022 false 28 September 2023 31 December 2024 31 December 2024 07624850 Ms Tchaiko Nkofi Mr Keith Alexander Mr Silvun Dalgety iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07624850 2023-09-27 07624850 2024-12-31 07624850 2023-09-28 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 2024-12-31 07624850 frs-core:Non-currentFinancialInstruments 2024-12-31 07624850 frs-core:ComputerEquipment 2024-12-31 07624850 frs-core:ComputerEquipment 2023-09-28 2024-12-31 07624850 frs-core:ComputerEquipment 2023-09-27 07624850 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 07624850 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-28 2024-12-31 07624850 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-27 07624850 frs-core:FurnitureFittings 2024-12-31 07624850 frs-core:FurnitureFittings 2023-09-28 2024-12-31 07624850 frs-core:FurnitureFittings 2023-09-27 07624850 frs-core:MotorVehicles 2024-12-31 07624850 frs-core:MotorVehicles 2023-09-28 2024-12-31 07624850 frs-core:MotorVehicles 2023-09-27 07624850 frs-core:PlantMachinery 2024-12-31 07624850 frs-core:PlantMachinery 2023-09-28 2024-12-31 07624850 frs-core:PlantMachinery 2023-09-27 07624850 frs-core:WithinOneYear 2024-12-31 07624850 frs-core:ShareCapital 2024-12-31 07624850 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07624850 frs-bus:PrivateLimitedCompanyLtd 2023-09-28 2024-12-31 07624850 frs-bus:FilletedAccounts 2023-09-28 2024-12-31 07624850 frs-bus:SmallEntities 2023-09-28 2024-12-31 07624850 frs-bus:AuditExemptWithAccountantsReport 2023-09-28 2024-12-31 07624850 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-28 2024-12-31 07624850 frs-bus:Director1 2023-09-28 2024-12-31 07624850 frs-bus:Director2 2023-09-28 2024-12-31 07624850 frs-bus:Director3 2023-09-28 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 2 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 3 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 4 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 7 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 8 2024-12-31 07624850 frs-core:CurrentFinancialInstruments 9 2024-12-31 07624850 frs-countries:EnglandWales 2023-09-28 2024-12-31 07624850 2022-09-30 07624850 2023-09-27 07624850 2022-10-01 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 2023-09-27 07624850 frs-core:Non-currentFinancialInstruments 2023-09-27 07624850 frs-core:WithinOneYear 2023-09-27 07624850 frs-core:ShareCapital 2023-09-27 07624850 frs-core:RetainedEarningsAccumulatedLosses 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 2 2023-09-27 07624850 frs-core:Non-currentFinancialInstruments 2 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 3 2023-09-27 07624850 frs-core:Non-currentFinancialInstruments 3 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 4 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 7 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 8 2023-09-27 07624850 frs-core:CurrentFinancialInstruments 9 2023-09-27
Registered number: 07624850
Caricom Products Limited
Unaudited Financial Statements
For the Period 28 September 2023 to 31 December 2024
ANA & Sons Ltd t/a Accounts Navigator
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at period ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
ANA & Sons Ltd t/a Accounts Navigator
06/06/2025
ANA & Sons Ltd t/a Accounts Navigator
Unit F2 The Pixel Building
110 Brooker Road
Waltham Abbey
Essex
EN9 1JH
Page 1
Page 2
Balance Sheet
Registered number: 07624850
31 December 2024 27 September 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 192,654 208,458
Tangible Assets 5 17,247 29,447
209,901 237,905
CURRENT ASSETS
Stocks 6 637,855 81,867
Debtors 7 620,166 705,517
Investments 8 10,232 10,232
Cash at bank and in hand 37,453 5,390
1,305,706 803,006
Creditors: Amounts Falling Due Within One Year 9 (362,658 ) (392,247 )
NET CURRENT ASSETS (LIABILITIES) 943,048 410,759
TOTAL ASSETS LESS CURRENT LIABILITIES 1,152,949 648,664
Creditors: Amounts Falling Due After More Than One Year 10 (376,490 ) (191,947 )
NET ASSETS 776,459 456,717
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 776,359 456,617
SHAREHOLDERS' FUNDS 776,459 456,717
Page 2
Page 3
For the period ending 31 December 2024 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 Keith Alexander
Director
06/06/2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Caricom Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07624850 . The registered office is Ckr House, East Hill, Dartford, DA1 1RZ.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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 Straight Line - 5 Years - 20%
Motor Vehicles Straight Line - 3 Years - 33%
Fixtures & Fittings Straight Line - 4 Years - 25%
Computer Equipment Straight Line - 2 Years - 50%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. 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.
Page 4
Page 5
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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 period was: 7 (2023: 10)
7 10
4. Intangible Assets
Development Costs
£
Cost
As at 28 September 2023 251,137
As at 31 December 2024 251,137
Amortisation
As at 28 September 2023 42,679
Provided during the period 15,804
As at 31 December 2024 58,483
Net Book Value
As at 31 December 2024 192,654
As at 28 September 2023 208,458
Page 5
Page 6
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 28 September 2023 70,422 62,948 5,744 2,179 141,293
Additions - - - (1,403 ) (1,403 )
As at 31 December 2024 70,422 62,948 5,744 776 139,890
Depreciation
As at 28 September 2023 45,237 61,200 3,139 2,270 111,846
Provided during the period 9,620 1,177 - - 10,797
As at 31 December 2024 54,857 62,377 3,139 2,270 122,643
Net Book Value
As at 31 December 2024 15,565 571 2,605 (1,494 ) 17,247
As at 28 September 2023 25,185 1,748 2,605 (91 ) 29,447
6. Stocks
31 December 2024 27 September 2023
as restated
£ £
Stock - materials - packaging - 27,465
Materials - 23,469
Finished goods 637,855 4,124
Work in progress - 26,809
637,855 81,867
7. Debtors
31 December 2024 27 September 2023
as restated
£ £
Due within one year
Trade debtors 414,424 394,151
Prepayments and accrued income 12,440 12,440
Other debtors (Debtors < 1 year) - 102,209
Amazon Control 3,413 -
Calyx Investment 3,000 -
Debtors - NGN 11,021 -
Intercompany Pakaraima 10,421 -
Intercompany Dalgety Corporation UK Ltd 506 -
GC Factoring Acct (39,091 ) -
Directors' loan accounts 11,757 -
427,891 508,800
...CONTINUED
Page 6
Page 7
Due after more than one year
Dalghety Ghana 192,275 196,717
620,166 705,517
8. Current Asset Investments
31 December 2024 27 September 2023
as restated
£ £
Short term deposits 10,232 10,232
9. Creditors: Amounts Falling Due Within One Year
31 December 2024 27 September 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 2,922 -
Trade creditors 218,414 182,256
Bank loans and overdrafts - 85,862
Corporation tax 170 75,577
Payroll Liabilities 53,965 35,813
VAT - 1,382
Salary Control - 7,268
Creditors - USD 70,522 -
Capital on Tap - Credit Card 6,750 -
Barclays Credit Card 9,915 -
Directors' loan accounts - 4,089
362,658 392,247
10. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 27 September 2023
as restated
£ £
Capify Loan - 94,510
Other loans 376,490 -
Finance - 28,110
Assest Finance - 69,327
376,490 191,947
11. Obligations Under Finance Leases and Hire Purchase
31 December 2024 27 September 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,922 -
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12. Share Capital
31 December 2024 27 September 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
13. Dividends
Page 8