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 12259337 Mrs R Athiyappan Mr Y Balasingam iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12259337 2023-10-31 12259337 2024-10-31 12259337 2023-11-01 2024-10-31 12259337 frs-core:CurrentFinancialInstruments 2024-10-31 12259337 frs-core:Non-currentFinancialInstruments 2024-10-31 12259337 frs-core:FurnitureFittings 2024-10-31 12259337 frs-core:FurnitureFittings 2023-11-01 2024-10-31 12259337 frs-core:FurnitureFittings 2023-10-31 12259337 frs-core:NetGoodwill 2024-10-31 12259337 frs-core:NetGoodwill 2023-11-01 2024-10-31 12259337 frs-core:NetGoodwill 2023-10-31 12259337 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 12259337 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 12259337 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 12259337 frs-core:MotorVehicles 2024-10-31 12259337 frs-core:MotorVehicles 2023-11-01 2024-10-31 12259337 frs-core:MotorVehicles 2023-10-31 12259337 frs-core:ShareCapital 2024-10-31 12259337 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 12259337 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12259337 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 12259337 frs-bus:SmallEntities 2023-11-01 2024-10-31 12259337 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 12259337 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 12259337 frs-bus:Director1 2023-11-01 2024-10-31 12259337 frs-bus:Director2 2023-11-01 2024-10-31 12259337 frs-countries:EnglandWales 2023-11-01 2024-10-31 12259337 2022-10-31 12259337 2023-10-31 12259337 2022-11-01 2023-10-31 12259337 frs-core:CurrentFinancialInstruments 2023-10-31 12259337 frs-core:Non-currentFinancialInstruments 2023-10-31 12259337 frs-core:ShareCapital 2023-10-31 12259337 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 12259337
News Gallery Convenience Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Greenwood & Co Limited
Chartered Certified Accountants
41 Derwent Gardens
Redbridge
Ilford
Essex
IG4 5NA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12259337
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 117,204 123,714
Tangible Assets 5 22,546 21,446
139,750 145,160
CURRENT ASSETS
Stocks 6 76,947 31,635
Debtors 7 98,179 4,056
Cash at bank and in hand 10,189 150,627
185,315 186,318
Creditors: Amounts Falling Due Within One Year 8 (125,083 ) (129,811 )
NET CURRENT ASSETS (LIABILITIES) 60,232 56,507
TOTAL ASSETS LESS CURRENT LIABILITIES 199,982 201,667
Creditors: Amounts Falling Due After More Than One Year 9 (198,725 ) (199,558 )
NET ASSETS 1,257 2,109
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 1,157 2,009
SHAREHOLDERS' FUNDS 1,257 2,109
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.
On behalf of the board
Mrs R Athiyappan
Director
21/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
News Gallery Convenience Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12259337 . The registered office is 108 Heckmondwike Road, Dewsbury, WF13 3NT.
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 sales made during the period excluding value added tax.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
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:
Leasehold 10% Straight line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.5. 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 stocks.
2.6. Taxation
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 year was: 8 (2023: 3)
8 3
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 130,224
As at 31 October 2024 130,224
Amortisation
As at 1 November 2023 6,510
Impairment losses 6,510
As at 31 October 2024 13,020
Net Book Value
As at 31 October 2024 117,204
As at 1 November 2023 123,714
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2023 5,925 7,500 33,288 46,713
Additions - - 8,222 8,222
As at 31 October 2024 5,925 7,500 41,510 54,935
Depreciation
As at 1 November 2023 2,370 3,281 19,616 25,267
Provided during the period 593 1,055 5,474 7,122
As at 31 October 2024 2,963 4,336 25,090 32,389
Net Book Value
As at 31 October 2024 2,962 3,164 16,420 22,546
As at 1 November 2023 3,555 4,219 13,672 21,446
6. Stocks
2024 2023
£ £
Stock 76,947 31,635
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 98,179 4,056
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,019 5,037
Bank loans and overdrafts 28,933 28,933
Other creditors 51,567 78,844
Taxation and social security 20,564 16,997
125,083 129,811
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 169,062 199,558
Other loan 29,663 -
198,725 199,558
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5