Acorah Software Products - Accounts Production 16.7.461 false true 29 February 2024 1 March 2023 true No description of principal activity 1 March 2024 28 February 2025 28 February 2025 13894939 Mr Miles Splevings iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13894939 2024-02-29 13894939 2025-02-28 13894939 2024-03-01 2025-02-28 13894939 frs-core:ComputerEquipment 2025-02-28 13894939 frs-core:ComputerEquipment 2024-03-01 2025-02-28 13894939 frs-core:ComputerEquipment 2024-02-29 13894939 frs-core:ShareCapital 2025-02-28 13894939 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 13894939 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 13894939 frs-bus:FullAccounts 2024-03-01 2025-02-28 13894939 frs-bus:SmallEntities 2024-03-01 2025-02-28 13894939 frs-bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 13894939 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 13894939 frs-bus:SmallCompaniesRegimeForDirectorsReport 2024-03-01 2025-02-28 13894939 frs-bus:Director1 2024-03-01 2025-02-28 13894939 frs-countries:EnglandWales 2024-03-01 2025-02-28 13894939 2023-02-28 13894939 2024-02-29 13894939 2023-03-01 2024-02-29 13894939 frs-core:CurrentFinancialInstruments 2024-02-29 13894939 frs-core:ShareCapital 2024-02-29 13894939 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 13894939
Sourced Fashion Ltd
Director's Report and
Unaudited Financial Statements
For The Year Ended 28 February 2025
AEH Accountancy Ltd
Chartered Accountants
The Stables
Church Farm
Willey
Warwickshire
CV23 0SH
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6—7
Page 1
Company Information
Director Mr Miles Splevings
Company Number 13894939
Registered Office Church Farm
Main Street
Willey
Warwickshire
CV23 0SH
Accountants AEH Accountancy Ltd
Chartered Accountants
The Stables
Church Farm
Willey
Warwickshire
CV23 0SH
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 28 February 2025.
Directors
The director who held office during the year were as follows:
Mr Miles Splevings
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Miles Splevings
Director
26th November 2025
Page 2
Page 3
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Sourced Fashion Ltd For The Year Ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Sourced Fashion Ltd For The Year Ended 28 February 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Sourced Fashion Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sourced Fashion Ltd and state those matters that we have agreed to state to the director of Sourced Fashion Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sourced Fashion Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Sourced Fashion Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Sourced Fashion Ltd . You consider that Sourced Fashion Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Sourced Fashion Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
26th November 2025
AEH Accountancy Ltd
Chartered Accountants
The Stables
Church Farm
Willey
Warwickshire
CV23 0SH
Page 3
Page 4
Profit and Loss Account
2025 2024
Notes £ £
TURNOVER 231,053 718,980
Cost of sales (136,516 ) (450,290 )
GROSS PROFIT 94,537 268,690
Administrative expenses (89,408 ) (241,316 )
OPERATING PROFIT 5,129 27,374
Interest payable and similar charges (5,146 ) (27,194 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR (17 ) 180
The notes on pages 6 to 7 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,881
- 1,881
CURRENT ASSETS
Stocks 5 300 66,739
Debtors 6 19,733 -
Cash at bank and in hand 1,211 20,434
21,244 87,173
Creditors: Amounts Falling Due Within One Year 7 (1,778 ) (69,571 )
NET CURRENT ASSETS (LIABILITIES) 19,466 17,602
TOTAL ASSETS LESS CURRENT LIABILITIES 19,466 19,483
NET ASSETS 19,466 19,483
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 19,465 19,482
SHAREHOLDERS' FUNDS 19,466 19,483
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Miles Splevings
Director
26th November 2025
The notes on pages 6 to 7 form part of these financial statements.
Page 5
Page 6
Notes to the Financial Statements
1. General Information
Sourced Fashion Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13894939 . The registered office is Church Farm, Main Street, Willey, Warwickshire, CV23 0SH.
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:
Office Equipment 33.33% 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 3)
1 3
4. Tangible Assets
Office Equipment
£
Cost
As at 1 March 2024 2,818
Disposals (2,818 )
As at 28 February 2025 -
Depreciation
As at 1 March 2024 937
Disposals (937 )
As at 28 February 2025 -
...CONTINUED
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Net Book Value
As at 28 February 2025 -
As at 1 March 2024 1,881
5. Stocks
2025 2024
£ £
Stock 300 66,739
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 19,733 -
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 1
Other creditors 1,778 58,113
Taxation and social security - 11,457
1,778 69,571
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 7