Acorah Software Products - Accounts Production 16.7.461 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 09228626 Mr Andrew Bromley Mrs Sarah Bromley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09228626 2023-09-30 09228626 2024-09-30 09228626 2023-10-01 2024-09-30 09228626 frs-core:CurrentFinancialInstruments 2024-09-30 09228626 frs-core:Non-currentFinancialInstruments 2024-09-30 09228626 frs-core:BetweenOneFiveYears 2024-09-30 09228626 frs-core:ComputerEquipment 2024-09-30 09228626 frs-core:ComputerEquipment 2023-10-01 2024-09-30 09228626 frs-core:ComputerEquipment 2023-09-30 09228626 frs-core:FurnitureFittings 2024-09-30 09228626 frs-core:FurnitureFittings 2023-10-01 2024-09-30 09228626 frs-core:FurnitureFittings 2023-09-30 09228626 frs-core:PlantMachinery 2024-09-30 09228626 frs-core:PlantMachinery 2023-10-01 2024-09-30 09228626 frs-core:PlantMachinery 2023-09-30 09228626 frs-core:WithinOneYear 2024-09-30 09228626 frs-core:ShareCapital 2024-09-30 09228626 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 09228626 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09228626 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 09228626 frs-bus:SmallEntities 2023-10-01 2024-09-30 09228626 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 09228626 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 09228626 frs-bus:Director1 2023-10-01 2024-09-30 09228626 frs-bus:Director2 2023-10-01 2024-09-30 09228626 frs-countries:EnglandWales 2023-10-01 2024-09-30 09228626 2022-09-30 09228626 2023-09-30 09228626 2022-10-01 2023-09-30 09228626 frs-core:CurrentFinancialInstruments 2023-09-30 09228626 frs-core:Non-currentFinancialInstruments 2023-09-30 09228626 frs-core:BetweenOneFiveYears 2023-09-30 09228626 frs-core:WithinOneYear 2023-09-30 09228626 frs-core:ShareCapital 2023-09-30 09228626 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 09228626
Famous Brand Wholesale Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Ormskirk Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09228626
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,261 10,504
6,261 10,504
CURRENT ASSETS
Stocks 5 393,111 325,899
Debtors 6 48,463 56,445
Cash at bank and in hand 82,995 153,810
524,569 536,154
Creditors: Amounts Falling Due Within One Year 7 (483,202 ) (499,387 )
NET CURRENT ASSETS (LIABILITIES) 41,367 36,767
TOTAL ASSETS LESS CURRENT LIABILITIES 47,628 47,271
Creditors: Amounts Falling Due After More Than One Year 8 (32,988 ) (33,070 )
NET ASSETS 14,640 14,201
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 14,540 14,101
SHAREHOLDERS' FUNDS 14,640 14,201
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For the year ending 30 September 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 Bromley
Director
10/12/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Famous Brand Wholesale Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09228626 . The registered office is 4 Hattersley Court, Ormskirk, L39 2AY.
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:
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 28,428 2,197 1,305 31,930
Additions - 2,351 - 2,351
As at 30 September 2024 28,428 4,548 1,305 34,281
...CONTINUED
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Depreciation
As at 1 October 2023 18,002 2,120 1,304 21,426
Provided during the period 5,685 909 - 6,594
As at 30 September 2024 23,687 3,029 1,304 28,020
Net Book Value
As at 30 September 2024 4,741 1,519 1 6,261
As at 1 October 2023 10,426 77 1 10,504
5. Stocks
2024 2023
£ £
Finished goods 393,111 325,899
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 48,463 56,445
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,510 6,510
Trade creditors 123,718 149,229
Bank loans and overdrafts 12,447 12,447
Other loans 150,568 150,568
Other creditors 19,955 13,987
Taxation and social security 170,004 166,646
483,202 499,387
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,443 9,800
Bank loans 21,545 23,270
32,988 33,070
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,510 6,510
Later than one year and not later than five years 11,443 9,800
17,953 16,310
17,953 16,310
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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