Acorah Software Products - Accounts Production 16.3.350 false true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 04451648 Mr S Mohamed Mr S Mohamed Mr Shafraaz Mohamed true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04451648 2022-06-30 04451648 2023-06-30 04451648 2022-07-01 2023-06-30 04451648 frs-core:CurrentFinancialInstruments 2023-06-30 04451648 frs-core:Non-currentFinancialInstruments 2023-06-30 04451648 frs-core:NetGoodwill 2023-06-30 04451648 frs-core:NetGoodwill 2022-07-01 2023-06-30 04451648 frs-core:NetGoodwill 2022-06-30 04451648 frs-core:PlantMachinery 2023-06-30 04451648 frs-core:PlantMachinery 2022-07-01 2023-06-30 04451648 frs-core:PlantMachinery 2022-06-30 04451648 frs-core:ShareCapital 2023-06-30 04451648 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 04451648 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04451648 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 04451648 frs-bus:SmallEntities 2022-07-01 2023-06-30 04451648 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 04451648 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04451648 1 2022-07-01 2023-06-30 04451648 frs-bus:Director1 2022-07-01 2023-06-30 04451648 frs-bus:Director2 2022-07-01 2023-06-30 04451648 frs-countries:EnglandWales 2022-07-01 2023-06-30 04451648 2021-06-30 04451648 2022-06-30 04451648 2021-07-01 2022-06-30 04451648 frs-core:CurrentFinancialInstruments 2022-06-30 04451648 frs-core:Non-currentFinancialInstruments 2022-06-30 04451648 frs-core:ShareCapital 2022-06-30 04451648 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: 04451648
Permawear Limited
Financial Statements
For The Year Ended 30 June 2023
Fairman Harris
1 Landor Road
London
SW9 9RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04451648
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,625 4,833
3,625 4,833
CURRENT ASSETS
Stocks 6 10,673 16,056
Debtors 7 149,712 150,269
Cash at bank and in hand 12,261 12,944
172,646 179,269
Creditors: Amounts Falling Due Within One Year 8 (100,093 ) (102,393 )
NET CURRENT ASSETS (LIABILITIES) 72,553 76,876
TOTAL ASSETS LESS CURRENT LIABILITIES 76,178 81,709
Creditors: Amounts Falling Due After More Than One Year 9 (22,550 ) (45,449 )
NET ASSETS 53,628 36,260
CAPITAL AND RESERVES
Called up share capital 10 102 102
Profit and Loss Account 53,526 36,158
SHAREHOLDERS' FUNDS 53,628 36,260
Page 1
Page 2
For the year ending 30 June 2023 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 S Mohamed
Director
Mr S Mohamed
Director
25 September 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Permawear Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04451648 . The registered office is 15-16 Brook's Mews Mayfair, London, W1K 4DS.
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.
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. 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 .... 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:
Plant & Machinery 25% Reducing Balance
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.
2.6. 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 2)
4 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2022 24,131
As at 30 June 2023 24,131
Amortisation
As at 1 July 2022 24,131
As at 30 June 2023 24,131
Net Book Value
As at 30 June 2023 -
As at 1 July 2022 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2022 22,508
As at 30 June 2023 22,508
Depreciation
As at 1 July 2022 17,675
Provided during the period 1,208
As at 30 June 2023 18,883
Net Book Value
As at 30 June 2023 3,625
As at 1 July 2022 4,833
6. Stocks
2023 2022
£ £
Stock 10,673 16,056
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 16,263 15,153
Other debtors 133,449 135,116
149,712 150,269
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 35,409 38,509
Bank loans and overdrafts 22,750 24,000
Other creditors 4,000 5,750
Taxation and social security 37,934 34,134
100,093 102,393
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 22,550 45,449
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 102 102
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Shafraaz Mohamed by virtue of his ownership of 99% of the issued share capital in the company.
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