Acorah Software Products - Accounts Production 16.4.675 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 06234043 Mr Dominic Wheatley Mr Andrew Lipscombe Mr David Lipscombe Mr David Lipscombe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06234043 2023-10-31 06234043 2024-10-31 06234043 2023-11-01 2024-10-31 06234043 frs-core:CurrentFinancialInstruments 2024-10-31 06234043 frs-core:Non-currentFinancialInstruments 2024-10-31 06234043 frs-core:ShareCapital 2024-10-31 06234043 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 06234043 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 06234043 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 06234043 frs-bus:SmallEntities 2023-11-01 2024-10-31 06234043 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 06234043 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 06234043 frs-bus:Director1 2023-11-01 2024-10-31 06234043 frs-bus:Director2 2023-11-01 2024-10-31 06234043 frs-bus:Director3 2023-11-01 2024-10-31 06234043 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 06234043 frs-countries:EnglandWales 2023-11-01 2024-10-31 06234043 2022-10-31 06234043 2023-10-31 06234043 2022-11-01 2023-10-31 06234043 frs-core:CurrentFinancialInstruments 2023-10-31 06234043 frs-core:Non-currentFinancialInstruments 2023-10-31 06234043 frs-core:ShareCapital 2023-10-31 06234043 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 06234043
Lipscombe Developments Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
B&SW Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 06234043
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 803,037 803,037
Cash at bank and in hand 6,980 4,310
810,017 807,347
Creditors: Amounts Falling Due Within One Year 5 (386,281 ) (371,296 )
NET CURRENT ASSETS (LIABILITIES) 423,736 436,051
TOTAL ASSETS LESS CURRENT LIABILITIES 423,736 436,051
Creditors: Amounts Falling Due After More Than One Year 6 (311,481 ) (328,428 )
NET ASSETS 112,255 107,623
CAPITAL AND RESERVES
Called up share capital 7 30 30
Profit and Loss Account 112,225 107,593
SHAREHOLDERS' FUNDS 112,255 107,623
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
Mr Andrew Lipscombe
Director
28/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Lipscombe Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06234043 . The registered office is Toad Hall Cattawade Street, Cattawade, Manningtree, CO11 1RG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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.
2.4. 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 year was: 3 (2023: 3)
3 3
4. Stocks
2024 2023
£ £
Work in progress 803,037 803,037
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1,220
Corporation tax 1,086 1,082
Accruals and deferred income 1,218 1,218
Directors' loan accounts 134,132 128,732
Amounts owed to associates 249,844 239,044
386,281 371,296
Page 2
Page 3
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 311,481 328,428
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30 30
Page 3