ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

SOFTCRAFT COMPUTER SERVICES LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302021-09-30No description of principal activity2020-10-01false32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04066809 2020-10-01 2021-09-30 04066809 2019-10-01 2020-09-30 04066809 2021-09-30 04066809 2020-09-30 04066809 c:Director1 2020-10-01 2021-09-30 04066809 d:FurnitureFittings 2020-10-01 2021-09-30 04066809 d:FurnitureFittings 2021-09-30 04066809 d:FurnitureFittings 2020-09-30 04066809 d:FurnitureFittings d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 04066809 d:CurrentFinancialInstruments 2021-09-30 04066809 d:CurrentFinancialInstruments 2020-09-30 04066809 d:Non-currentFinancialInstruments 2021-09-30 04066809 d:Non-currentFinancialInstruments 2020-09-30 04066809 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 04066809 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 04066809 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 04066809 d:Non-currentFinancialInstruments d:AfterOneYear 2020-09-30 04066809 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-09-30 04066809 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-09-30 04066809 d:ShareCapital 2021-09-30 04066809 d:ShareCapital 2020-09-30 04066809 d:RetainedEarningsAccumulatedLosses 2021-09-30 04066809 d:RetainedEarningsAccumulatedLosses 2020-09-30 04066809 c:FRS102 2020-10-01 2021-09-30 04066809 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 04066809 c:FullAccounts 2020-10-01 2021-09-30 04066809 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 iso4217:GBP xbrli:pure

Registered number: 04066809

SOFTCRAFT COMPUTER SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2021

SOFTCRAFT COMPUTER SERVICES LIMITED

REGISTERED NUMBER: 04066809

BALANCE SHEET

AS AT 30 SEPTEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	5		7,660		7,877
			7,660		7,877
Current assets
Stocks	6	18,500		6,500
Debtors: amounts falling due within one year	7	59,255		40,752
		77,755		47,252
Creditors: amounts falling due within one year	8	(78,707)		(57,605)
Net current liabilities			(952)		(10,353)
Total assets less current liabilities			6,708		(2,476)
Creditors: amounts falling due after more than one year			(20,413)		-

Net liabilities			(13,705)		(2,476)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(13,805)	(2,576)
	(13,705)	(2,476)

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SOFTCRAFT COMPUTER SERVICES LIMITED

REGISTERED NUMBER: 04066809

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 June 2022.

M T Wood

Director

The notes on pages 3 to 8 form part of these financial statements.

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.	General information

Softcraft Computer Services Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 04066809. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, NR7 0HR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of the company's bankers and its director in the foreseeable furture. The director considers that the resources available to the company will be sufficient for it to be able to continue as a going concern now the Covid-19 restrictions are lifted, and has considered a period of at least twelve months from the balance sheet date. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & computer equipment

25%

reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 - 2).

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

4.	Factors affecting future tax charges

The company has tax losses carried forward of £11,714 (2020 £Nil) available for set-off against future trading profits.

5.	Tangible fixed assets

		Fixtures & computer equipment
		£
	Cost or valuation
	At 1 October 2020	14,611
	Additions	2,000
	At 30 September 2021	16,611
	Depreciation
	At 1 October 2020	6,734
	Charge for the year on owned assets	2,217
	At 30 September 2021	8,951
	Net book value
	At 30 September 2021	7,660
	At 30 September 2020	7,877

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

6.	Stocks and work in progress
		2021	2020
		£	£

Stock	1,500	1,500
Work in progress	17,000	5,000
	18,500	6,500

Debtors

					2021	2020
					£	£


Trade debtors	59,255	38,778
Other debtors	-	1,974
	59,255	40,752

8.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	815	13,354
Bank loans	4,587	-
Trade creditors	18,888	17,187
Other taxation and social security	48,758	19,578
Other creditors	2,572	4,521
Accruals	3,087	2,965
	78,707	57,605

9.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

	Bank loans	20,413	-

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Amounts falling due within one year
Bank loans	4,587	-

Amounts falling due 2-5 years
Bank loans	20,413	-

	25,000	-

11.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £818 (2020 - £810). Contributions totalling £2,222 (2020 - £4,432) were payable to the fund at the balance sheet date and are included in creditors.

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