ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

SOFTCRAFT COMPUTER SERVICES LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-30No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-10-01falsetrue33true 04066809 2021-10-01 2022-09-30 04066809 2020-10-01 2021-09-30 04066809 2022-09-30 04066809 2021-09-30 04066809 c:Director1 2021-10-01 2022-09-30 04066809 d:FurnitureFittings 2021-10-01 2022-09-30 04066809 d:FurnitureFittings 2022-09-30 04066809 d:FurnitureFittings 2021-09-30 04066809 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 04066809 d:CurrentFinancialInstruments 2022-09-30 04066809 d:CurrentFinancialInstruments 2021-09-30 04066809 d:Non-currentFinancialInstruments 2022-09-30 04066809 d:Non-currentFinancialInstruments 2021-09-30 04066809 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 04066809 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 04066809 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 04066809 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 04066809 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 04066809 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-09-30 04066809 d:ShareCapital 2022-09-30 04066809 d:ShareCapital 2021-09-30 04066809 d:RetainedEarningsAccumulatedLosses 2022-09-30 04066809 d:RetainedEarningsAccumulatedLosses 2021-09-30 04066809 c:FRS102 2021-10-01 2022-09-30 04066809 c:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 04066809 c:FullAccounts 2021-10-01 2022-09-30 04066809 c:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 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 2022

SOFTCRAFT COMPUTER SERVICES LIMITED

REGISTERED NUMBER: 04066809

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	5		8,223		7,660
			8,223		7,660
Current assets
Stocks	6	16,500		18,500
Debtors: amounts falling due after more than one year	7	2,190		-
Debtors: amounts falling due within one year	7	61,613		59,255
		80,303		77,755
Creditors: amounts falling due within one year	8	(100,472)		(78,707)
Net current liabilities			(20,169)		(952)
Total assets less current liabilities			(11,946)		6,708
Creditors: amounts falling due after more than one year	9		(16,124)		(20,413)

Net liabilities			(28,070)		(13,705)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(28,170)	(13,805)
	(28,070)	(13,705)

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SOFTCRAFT COMPUTER SERVICES LIMITED

REGISTERED NUMBER: 04066809

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2022

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 29 September 2023.

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 2022

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 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 2022

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

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.

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.

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.Accounting policies (continued)

2.9

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.

2.10

Debtors

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

2.11

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.

2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

4.	Factors affecting future tax charges

The company has tax losses carried forward of £26,397 (2021 £11,714) available for set-off against future trading profits.

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

5.	Tangible fixed assets

		Fixtures & computer equipment
		£
	Cost or valuation
	At 1 October 2021	16,611
	Additions	3,299
	At 30 September 2022	19,910
	Depreciation
	At 1 October 2021	8,951
	Charge for the year on owned assets	2,736
	At 30 September 2022	11,687
	Net book value
	At 30 September 2022	8,223
	At 30 September 2021	7,660

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

6.	Stocks and work in progress
		2022	2021
		£	£

Stock	1,500	1,500
Work in progress	15,000	17,000
	16,500	18,500

7.	Debtors
		2022	2021
		£	£

Due after more than one year
Tax repayable	2,190	-

					2022	2021
					£	£

Due within one year
Trade debtors	55,124	59,255
Other debtors	6,489	-
	61,613	59,255

Included within other debtors due within one year is a loan to M T Wood, the director, amounting to £6,489 (2021 - £nil).

8.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Bank overdrafts	10,883	815
Bank loans	4,645	4,587
Trade creditors	22,409	18,888
Corporation tax	2,190	-
Other taxation and social security	52,632	48,758
Other creditors	4,394	2,572
Accruals	3,319	3,087
	100,472	78,707

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SOFTCRAFT COMPUTER SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

9.	Creditors: Amounts falling due after more than one year
		2022	2021
		£	£

	Bank loans	16,124	20,413

Amounts falling due within one year
Bank loans	4,645	4,587

Amounts falling due 2-5 years
Bank loans	16,124	20,413

	20,769	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 £931 (2021 - £818). Contributions totalling £4,394 (2021 - £2,222) were payable to the fund at the balance sheet date and are included in creditors.

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