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Registered number: 11864266
Laurel Homecare Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11864266
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 81,837 109,120
81,837 109,120
CURRENT ASSETS
Debtors 5 62,165 61,029
Cash at bank and in hand 209 5,309
62,374 66,338
Creditors: Amounts Falling Due Within One Year 6 (55,896 ) (32,234 )
NET CURRENT ASSETS (LIABILITIES) 6,478 34,104
TOTAL ASSETS LESS CURRENT LIABILITIES 88,315 143,224
Creditors: Amounts Falling Due After More Than One Year 7 (54,772 ) (80,842 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,693 ) (8,219 )
NET ASSETS 31,850 54,163
CAPITAL AND RESERVES
Called up share capital 102 102
Profit and Loss Account 31,748 54,061
SHAREHOLDERS' FUNDS 31,850 54,163
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 Philip Hall
Director
Mrs Sarah Hall
Director
28 July 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
Laurel Homecare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11864266 . The registered office is Suite 106 Viney Court, Viney Street, Taunton, Somerset, TA1 3FB.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% 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. 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.
...CONTINUED
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2.5. Taxation - continued
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 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 22 (2024: 22)
22 22
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 1,144 150,743 26,730 4,391 183,008
As at 31 March 2025 1,144 150,743 26,730 4,391 183,008
Depreciation
As at 1 April 2024 500 52,025 16,975 4,388 73,888
Provided during the period 161 24,680 2,439 3 27,283
As at 31 March 2025 661 76,705 19,414 4,391 101,171
Net Book Value
As at 31 March 2025 483 74,038 7,316 - 81,837
As at 1 April 2024 644 98,718 9,755 3 109,120
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,865 43,097
Prepayments and accrued income 47,938 -
Amounts owed by associates 12,362 17,932
62,165 61,029
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 13,975 5,437
Trade creditors 456 431
Bank loans and overdrafts 26,930 9,000
Corporation tax 5,833 9,997
Other taxes and social security 6,451 5,442
Other creditors 1,296 -
Accruals and deferred income 412 -
Directors' loan accounts 543 1,927
55,896 32,234
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 53,546 70,342
Bank loans 1,226 10,500
54,772 80,842
8. Secured Creditors
Of the creditors the following amounts are secured.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 67,521 75,779
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,975 5,437
Later than one year and not later than five years 53,546 70,342
67,521 75,779
67,521 75,779
10. Related Party Transactions
The company maintained a loan account with a connected company. The loan is interest free and repayable on demand. At the balance sheet date the amount due to the company was £12,362 (2024: £17,932).
The directors maintained loan accounts with the company. The loans are interest free and repayable on demand. At the balance sheet date the amount due to the directors was £543 (2024: £1,927).
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