Acorah Software Products - Accounts Production 16.4.675 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 01228502 Mr T B Haywood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01228502 2023-10-31 01228502 2024-10-31 01228502 2023-11-01 2024-10-31 01228502 frs-core:CurrentFinancialInstruments 2024-10-31 01228502 frs-core:FurnitureFittings 2024-10-31 01228502 frs-core:FurnitureFittings 2023-11-01 2024-10-31 01228502 frs-core:FurnitureFittings 2023-10-31 01228502 frs-core:MotorVehicles 2024-10-31 01228502 frs-core:MotorVehicles 2023-11-01 2024-10-31 01228502 frs-core:MotorVehicles 2023-10-31 01228502 frs-core:PlantMachinery 2024-10-31 01228502 frs-core:PlantMachinery 2023-11-01 2024-10-31 01228502 frs-core:PlantMachinery 2023-10-31 01228502 frs-core:SharePremium 2024-10-31 01228502 frs-core:ShareCapital 2024-10-31 01228502 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 01228502 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01228502 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 01228502 frs-bus:SmallEntities 2023-11-01 2024-10-31 01228502 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 01228502 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 01228502 frs-bus:Director1 2023-11-01 2024-10-31 01228502 frs-countries:EnglandWales 2023-11-01 2024-10-31 01228502 2022-10-31 01228502 2023-10-31 01228502 2022-11-01 2023-10-31 01228502 frs-core:CurrentFinancialInstruments 2023-10-31 01228502 frs-core:SharePremium 2023-10-31 01228502 frs-core:ShareCapital 2023-10-31 01228502 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 01228502
Dealmead Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
WAC (Whale & Company) Limited
Chartered Accountants & Business Advisors
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01228502
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 78,335 128,019
78,335 128,019
CURRENT ASSETS
Stocks 5 1,194,608 1,454,182
Debtors 6 26,143 45,530
Cash at bank and in hand 369,388 89,314
1,590,139 1,589,026
Creditors: Amounts Falling Due Within One Year 7 (990,221 ) (1,003,966 )
NET CURRENT ASSETS (LIABILITIES) 599,918 585,060
TOTAL ASSETS LESS CURRENT LIABILITIES 678,253 713,079
NET ASSETS 678,253 713,079
CAPITAL AND RESERVES
Called up share capital 9 870 870
Share premium account 60,000 60,000
Profit and Loss Account 617,383 652,209
SHAREHOLDERS' FUNDS 678,253 713,079
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 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.
The financial statements were approved by the board of directors on 9 July 2025 and were signed on its behalf by:
Mr T B Haywood
Director
9th July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dealmead Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01228502 . The registered office is Beech Knoll Burton Road, Midway, Swadlincote, Derbyshire, DE11 0DP.
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.
The principal accounting policies applied in the preparation of these financial statements are set out below.  The policies have been consistently applied to all years presented, unless otherwise stated.
The financial statements have been prepared using the historical cost convention, except, certain items maybe shown at fair value, where disclosed in the accounting policies.
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.  They are of the opinion they have adequate funding from other lenders to continue trading until the market for new dwellings moves forward.  
2.3. Turnover
Revenue comprises the fair value of the consideration received or receivable net of value added tax, returns, rebates and discounts. It is recognised in the Profit and Loss Account when the significant risks and rewards of ownership have transferred to the purchaser. Revenue in respect of the sale of residential properties is recognised at the fair value of the consideration received or receivable on legal completion.
Additionally where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by the stage of completion of the contract activity at the balance sheet date.  Where the outcome of the long term activity cannot be estimated reliably the contract costs will be carried as work in progress.
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 on a straight line basis over 3 to 5 years
Motor Vehicles on a straightline basis over 4 years
Fixtures & Fittings on a straightline basis over 6 to 10 years
2.5. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.6. Stocks and Work in Progress
Stocks are initially stated at cost and then held at the lower of this initial amount and net realisable value. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.  Net realiable value represents the net selling price less the esimated costs of completion and costs to be incurred in respect of marketing, selling and distribution. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to net realiable value; the impairment loss is recognised immediately in profit or loss.
Page 3
Page 4
2.7. Financial Instruments
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.
Trade Debtors
Trade debtors are amounts due from customers for purchases 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.
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 creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.8. Pensions
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2.9. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.10. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.11. Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
Page 4
Page 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2023 181,640 92,837 4,676 279,153
Disposals (2,433 ) - (2,280 ) (4,713 )
As at 31 October 2024 179,207 92,837 2,396 274,440
Depreciation
As at 1 November 2023 75,217 71,328 4,589 151,134
Provided during the period 31,201 18,444 40 49,685
Disposals (2,433 ) - (2,281 ) (4,714 )
As at 31 October 2024 103,985 89,772 2,348 196,105
Net Book Value
As at 31 October 2024 75,222 3,065 48 78,335
As at 1 November 2023 106,423 21,509 87 128,019
5. Stocks
2024 2023
£ £
Stock 500,029 701,824
Work in progress 694,579 752,358
1,194,608 1,454,182
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 43,067
Prepayments and accrued income 2,864 2,463
Other debtors 23,279 -
26,143 45,530
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,414 36,665
Other taxes and social security 8,531 7,018
VAT - 1,153
Net wages 158 3,463
Accruals and deferred income 7,922 6,185
Directors' loan accounts 949,196 949,482
990,221 1,003,966
Loans from directors with a carrying amount of £949,196 (2023 - £949,482) are denominated in GBP with a nominal interest rate of 0% over bank base rate.  There is no formal repayment date so it is technically due by 1 November 2024.
Page 5
Page 6
8. Deferred Taxation
The company has tax losses that exceed the accounts written down value of tangible fixed assets, giving rise to a deferred tax asset of £54,150 recovery of which is not forseeable.  No provision has been made in the financial statements for this amount.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 870 870
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid - 15,900
One of the shareholders has waived their entitlement to dividends.
11. Related Party Transactions
Details on loans from a director and the associated interest rate are included in note 8. No interest was charged in this year or the preceding one.
No dividends were paid this year (2023 - £6,900 was paid to a director).
Directors' remuneration totalled £87,450 (2023 - £82,229).
12. Directors
Mr B Haywood, one of the original founders of the company, died peacefully at home on 12 October 2024.  His son, Mr T B Haywood looks forward to continuing the legacy left by his father.
Page 6