Acorah Software Products - Accounts Production 16.5.460 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 02414013 Matthew Davey Karen Sargeant Linda Clarke Nicholas Sargeant Nicholas Sargeant iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02414013 2023-11-30 02414013 2024-11-30 02414013 2023-12-01 2024-11-30 02414013 frs-core:CurrentFinancialInstruments 2024-11-30 02414013 frs-core:Non-currentFinancialInstruments 2024-11-30 02414013 frs-core:FurnitureFittings 2024-11-30 02414013 frs-core:FurnitureFittings 2023-12-01 2024-11-30 02414013 frs-core:FurnitureFittings 2023-11-30 02414013 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-11-30 02414013 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 02414013 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 02414013 frs-core:MotorVehicles 2024-11-30 02414013 frs-core:MotorVehicles 2023-12-01 2024-11-30 02414013 frs-core:MotorVehicles 2023-11-30 02414013 frs-core:PlantMachinery 2024-11-30 02414013 frs-core:PlantMachinery 2023-12-01 2024-11-30 02414013 frs-core:PlantMachinery 2023-11-30 02414013 frs-core:RevaluationReserve 2023-12-01 2024-11-30 02414013 frs-core:RevaluationReserve 2023-11-30 02414013 frs-core:RevaluationReserve 2024-11-30 02414013 frs-core:ShareCapital 2024-11-30 02414013 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 02414013 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 02414013 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 02414013 frs-bus:SmallEntities 2023-12-01 2024-11-30 02414013 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 02414013 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 02414013 frs-bus:Director1 2023-12-01 2024-11-30 02414013 frs-bus:Director1 2023-11-30 02414013 frs-bus:Director1 2024-11-30 02414013 frs-bus:Director2 2023-12-01 2024-11-30 02414013 frs-bus:Director3 2023-12-01 2024-11-30 02414013 frs-bus:Director4 2023-12-01 2024-11-30 02414013 frs-bus:CompanySecretary1 2023-12-01 2024-11-30 02414013 frs-countries:EnglandWales 2023-12-01 2024-11-30 02414013 2022-11-30 02414013 2023-11-30 02414013 2022-12-01 2023-11-30 02414013 frs-core:CurrentFinancialInstruments 2023-11-30 02414013 frs-core:Non-currentFinancialInstruments 2023-11-30 02414013 frs-core:MotorVehicles 2022-12-01 2023-11-30 02414013 frs-core:RevaluationReserve 2023-11-30 02414013 frs-core:ShareCapital 2023-11-30 02414013 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 02414013
Eastern Hardwoods Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02414013
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 686,261 530,790
686,261 530,790
CURRENT ASSETS
Stocks 5 7,243 5,412
Debtors 6 135,202 127,446
Cash at bank and in hand 137,182 207,108
279,627 339,966
Creditors: Amounts Falling Due Within One Year 7 (211,166 ) (192,128 )
NET CURRENT ASSETS (LIABILITIES) 68,461 147,838
TOTAL ASSETS LESS CURRENT LIABILITIES 754,722 678,628
Creditors: Amounts Falling Due After More Than One Year 8 (36,386 ) (61,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (95,060 ) (60,279 )
NET ASSETS 623,276 556,682
CAPITAL AND RESERVES
Called up share capital 25,001 25,001
Revaluation reserve 11 456,192 319,470
Profit and Loss Account 142,083 212,211
SHAREHOLDERS' FUNDS 623,276 556,682
Page 1
Page 2
For the year ending 30 November 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
Nicholas Sargeant
Director
21 August 2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Eastern Hardwoods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02414013 . The registered office is 4 Ash Industrial Estate, Flex Meadow Pinnacles West, Harlow, Essex, CM19 5TJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets 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.
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:
Freehold 2% on cost/valuation
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on cost
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 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.
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial  statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets: which include debtors and cash and bank balances, are initially measured at their transaction price adjusted for transaction costs and are subsequently measured at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities: Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities: which include creditors, bank loans, loans from fellow group companies, other loans and preference shares that are classified as debt, are initially recognised at their transaction price adjusted for transaction costs, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at their transaction price and are subsequently measured at amortised cost using the effective interest method.
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.
...CONTINUED
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2.7. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 10)
9 10
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost or Valuation
As at 1 December 2023 495,000 50,007 98,967 7,708 651,682
Revaluation 155,000 - - - 155,000
As at 30 November 2024 650,000 50,007 98,967 7,708 806,682
Depreciation
As at 1 December 2023 29,700 47,186 36,304 7,702 120,892
Provided during the period 13,000 564 15,665 - 29,229
On revaluations (29,700 ) - - - (29,700 )
As at 30 November 2024 13,000 47,750 51,969 7,702 120,421
Net Book Value
As at 30 November 2024 637,000 2,257 46,998 6 686,261
As at 1 December 2023 465,300 2,821 62,663 6 530,790
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 59,066
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Cost or valuation as at 30 November 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
At cost 650,000 50,007 98,967 7,708 806,682
650,000 50,007 98,967 7,708 806,682
An updated valuation was not performed by the company as the directors believe the open market valuation determined by Presidential Estates Ltd, an independent, professionally-qualified valuer, on 12 January 2022, is not materially different from the carrying value at 30 November 2023.
5. Stocks
2024 2023
£ £
Stock 7,243 5,412
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 131,941 121,798
Prepayments and accrued income 2,767 2,785
Other debtors 481 2,850
Directors' loan accounts 13 13
135,202 127,446
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,963 14,963
Trade creditors 163,688 144,375
Bank loans and overdrafts 10,317 10,102
Corporation tax 67 -
Other taxes and social security 17,295 18,609
Other creditors 1,801 829
Accruals and deferred income 3,035 3,250
211,166 192,128
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 31,174 46,137
Bank loans 5,212 15,530
36,386 61,667
The company received £50,000 during 2020 in relation to a Bounce Back Loan Scheme under which the government made a Business Interruption Payment to cover the first 12 months of interest payments. The loan is repayable over 6 years including a 12 month repayment holiday from the date on which the loan was drawn, and is subject to interest at a rate of 2.5% per year.
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 61,100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Nicholas Sargeant 13 - - - -
The above loan is unsecured, interest free and repayable on demand.
11. Reserves
Revaluation Reserve
£
As at 1 December 2023 319,470
Surplus on revaluation 184,700
Deferred tax movement on revaluation of property (38,750 )
Transfer to profit and loss (9,228 )
As at 30 November 2024 456,192
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