Acorah Software Products - Accounts Production 16.5.460 false true 31 January 2024 18 January 2023 false 1 February 2024 31 January 2025 31 January 2025 14602053 E Shipstone T Clipsham-Brown L Morley S Mitchell A Barnes S Cowley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14602053 2024-01-31 14602053 2025-01-31 14602053 2024-02-01 2025-01-31 14602053 frs-core:CurrentFinancialInstruments 2025-01-31 14602053 frs-core:ComputerEquipment 2025-01-31 14602053 frs-core:ComputerEquipment 2024-02-01 2025-01-31 14602053 frs-core:ComputerEquipment 2024-01-31 14602053 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 14602053 frs-bus:CompanyLimitedByGuarantee 2024-02-01 2025-01-31 14602053 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 14602053 frs-bus:SmallEntities 2024-02-01 2025-01-31 14602053 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 14602053 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 14602053 frs-bus:Director1 2024-02-01 2025-01-31 14602053 frs-bus:Director2 2024-02-01 2025-01-31 14602053 frs-bus:Director3 2024-02-01 2025-01-31 14602053 frs-bus:Director4 2024-02-01 2025-01-31 14602053 frs-bus:Director5 2024-02-01 2025-01-31 14602053 frs-bus:Director6 2024-02-01 2025-01-31 14602053 frs-countries:EnglandWales 2024-02-01 2025-01-31 14602053 2023-01-17 14602053 2024-01-31 14602053 2023-01-18 2024-01-31 14602053 frs-core:CurrentFinancialInstruments 2024-01-31 14602053 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 14602053
Gifts From Fairies Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Future Cloud Accounting Limited
Gifts From Fairies Ltd
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Gifts From Fairies Ltd
Balance Sheet
As At 31 January 2025
Balance Sheet
Registered number: 14602053
31 January 2025 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 170 275
170 275
CURRENT ASSETS
Stocks 5 200 400
Debtors 6 1,640 1,112
Cash at bank and in hand 2,574 1,425
4,414 2,937
Creditors: Amounts Falling Due Within One Year 7 (2,216 ) (2,346 )
NET CURRENT ASSETS (LIABILITIES) 2,198 591
TOTAL ASSETS LESS CURRENT LIABILITIES 2,368 866
PROVISIONS FOR LIABILITIES
Deferred Taxation - (69 )
NET ASSETS 2,368 797
Income and Expenditure Account 2,368 797
MEMBERS' FUNDS 2,368 797
Page 1
Page 2
Gifts From Fairies Ltd
Balance Sheet (continued)
As At 31 January 2025
For the year ending 31 January 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 Income and Expenditure Account.
On behalf of the board
E Shipstone
Director
07/09/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Gifts From Fairies Ltd
Notes to the Financial Statements
For The Year Ended 31 January 2025
Notes to the Financial Statements
1. General Information
Gifts From Fairies Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 14602053 . The registered office is 14 Halifax Court Fernwood Business Park, Cross Lane, Newark, Nottinghamshire, NG24 3JP.
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:
Computer Equipment 33% Straight Line
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 surplus. 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 surplus 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 surplus 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 surplus or deficit 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.
Page 3
Page 4
Gifts From Fairies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.6. Government Grant
Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned.
All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.
2.7. Change in Legal Status and Accounting Framework
Background
Gifts from Fairies was incorporated as a company limited by guarantee on 18 January 2023 and became a registered charity on 27 June 2024 (Charity Registration Number: 1208853).
Continuity of Entity
The registration as a charity did not create a new legal entity. The company limited by guarantee remains the same legal body, but is now also subject to the statutory requirements and governance of the Charities Act 2011 in addition to the Companies Act 2006.
Accounting Treatment
The financial statements have been prepared on the basis that the entity remained the same throughout the reporting period. Results for the period prior to 27 June 2024 represent the company’s activities before it obtained charitable status, while results after this date represent its activities as a registered charity.
For this reporting year, the results represent both the pre-charity period (1 January 2024 – 26 June 2024) and the post-charity period (27 June 2024 – 31 December 2024).
Where income and expenditure have arisen evenly across the period, they have been apportioned on a straight-line basis. The trustees consider that this approach provides a fair representation of the results of the company before and after registration as a charity.
Impact on the Accounts
There is no change in the recognition or measurement of income, expenditure, assets or liabilities as a result of the change in legal status. The principal change is the format of financial reporting, which from the registration date is prepared in accordance with the Charities SORP (FRS 102).
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 2)
7 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2024 319
As at 31 January 2025 319
Depreciation
As at 1 February 2024 44
Provided during the period 105
As at 31 January 2025 149
Net Book Value
As at 31 January 2025 170
As at 1 February 2024 275
Page 4
Page 5
Gifts From Fairies Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
5. Stocks
31 January 2025 31 January 2024
£ £
Stock 200 400
6. Debtors
31 January 2025 31 January 2024
£ £
Due within one year
Other debtors 1,640 1,112
7. Creditors: Amounts Falling Due Within One Year
31 January 2025 31 January 2024
£ £
Other creditors 2,084 2,208
Taxation and social security 132 138
2,216 2,346
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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