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Registered number: 8591378
The London Honey Company Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 8591378
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 382,503 235,039
382,503 235,039
CURRENT ASSETS
Stocks 5 98,772 129,806
Debtors 6 248,877 168,989
Cash at bank and in hand 421,771 308,772
769,420 607,567
Creditors: Amounts Falling Due Within One Year 7 (353,097 ) (242,806 )
NET CURRENT ASSETS (LIABILITIES) 416,323 364,761
TOTAL ASSETS LESS CURRENT LIABILITIES 798,826 599,800
Creditors: Amounts Falling Due After More Than One Year 8 (25,558 ) (23,862 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (67,380 ) (51,018 )
NET ASSETS 705,888 524,920
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 704,888 523,920
SHAREHOLDERS' FUNDS 705,888 524,920
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
Mr Steven Benbow
Director
29th May 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
The London Honey Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8591378 . The registered office is 203 London Road, Hadleigh, Benfleet, Essex, SS7 2RD.
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:
Leasehold 10% Reducing balance
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 4 year straight line
2.4. 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.
2.5. 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.
Biological Assets
Due to the transient nature of the livestock held by the company, the costs of maintaining and replacing the biological assets of the company are written off in the year of purchase.
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2.6. 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.
2.7. 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 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: 7 (2024: 7)
7 7
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 66,797 253,877 97,619 9,023
Additions - 151,481 65,927 627
Disposals - (6 ) (23,450 ) -
As at 31 March 2025 66,797 405,352 140,096 9,650
Depreciation
As at 1 April 2024 15,523 131,516 49,338 2,479
Provided during the period 5,126 35,625 14,299 1,636
Disposals - (6 ) (7,633 ) -
As at 31 March 2025 20,649 167,135 56,004 4,115
Net Book Value
As at 31 March 2025 46,148 238,217 84,092 5,535
As at 1 April 2024 51,274 122,361 48,281 6,544
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Computer Equipment Total
£ £
Cost
As at 1 April 2024 13,561 440,877
Additions 3,913 221,948
Disposals - (23,456 )
As at 31 March 2025 17,474 639,369
Depreciation
As at 1 April 2024 6,982 205,838
Provided during the period 1,981 58,667
Disposals - (7,639 )
As at 31 March 2025 8,963 256,866
Net Book Value
As at 31 March 2025 8,511 382,503
As at 1 April 2024 6,579 235,039
5. Stocks
2025 2024
£ £
Stock 98,772 129,806
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 131,396 110,581
Prepayments and accrued income 47,163 11,944
Other debtors 11,431 10,231
VAT 58,887 36,233
248,877 168,989
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 12,547 10,240
Trade creditors 299,476 160,605
Bank loans and overdrafts 10,418 10,161
Corporation tax 7,636 38,572
Other taxes and social security 4,133 4,271
Other creditors 1,606 1,578
Accruals and deferred income 10,046 9,571
Directors' loan accounts 7,235 7,808
353,097 242,806
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 22,026 9,911
Bank loans 3,532 13,951
25,558 23,862
9. Secured Creditors
Of the creditors the following amounts are secured. The obligations under finance leases are secured by lien over the relevant motor vehicles and the bank loan is secured by Government guarantee.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 34,573 20,151
Bank loans and overdrafts 13,951 24,112
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,547 10,240
Later than one year and not later than five years 22,026 9,911
34,573 20,151
34,573 20,151
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
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