Acorah Software Products - Accounts Production 14.5.501 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 05211235 Mr Gerard Gibbs Mrs Deborah Gibbs iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05211235 2022-08-31 05211235 2023-08-31 05211235 2022-09-01 2023-08-31 05211235 frs-core:CurrentFinancialInstruments 2023-08-31 05211235 frs-core:Non-currentFinancialInstruments 2023-08-31 05211235 frs-core:ComputerEquipment 2023-08-31 05211235 frs-core:ComputerEquipment 2022-09-01 2023-08-31 05211235 frs-core:ComputerEquipment 2022-08-31 05211235 frs-core:NetGoodwill 2023-08-31 05211235 frs-core:NetGoodwill 2022-09-01 2023-08-31 05211235 frs-core:NetGoodwill 2022-08-31 05211235 frs-core:PlantMachinery 2023-08-31 05211235 frs-core:PlantMachinery 2022-09-01 2023-08-31 05211235 frs-core:PlantMachinery 2022-08-31 05211235 frs-core:ShareCapital 2023-08-31 05211235 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 05211235 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05211235 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 05211235 frs-bus:SmallEntities 2022-09-01 2023-08-31 05211235 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05211235 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 05211235 frs-bus:Director1 2022-09-01 2023-08-31 05211235 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 05211235 frs-countries:EnglandWales 2022-09-01 2023-08-31 05211235 2021-08-31 05211235 2022-08-31 05211235 2021-09-01 2022-08-31 05211235 frs-core:CurrentFinancialInstruments 2022-08-31 05211235 frs-core:Non-currentFinancialInstruments 2022-08-31 05211235 frs-core:ShareCapital 2022-08-31 05211235 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 05211235
Salient Research Limited
Unaudited Financial Statements
For The Year Ended 31 August 2023
Portishead Taxsavers
72 High Street
Portishead
BS20 6EH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05211235
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,292 2,932
2,292 2,932
CURRENT ASSETS
Debtors 6 - 4,248
Cash at bank and in hand 1,953 4,923
1,953 9,171
Creditors: Amounts Falling Due Within One Year 7 (7,562 ) (7,656 )
NET CURRENT ASSETS (LIABILITIES) (5,609 ) 1,515
TOTAL ASSETS LESS CURRENT LIABILITIES (3,317 ) 4,447
Creditors: Amounts Falling Due After More Than One Year 8 (3,142 ) (4,442 )
NET (LIABILITIES)/ASSETS (6,459 ) 5
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (6,460 ) 4
SHAREHOLDERS' FUNDS (6,459) 5
Page 1
Page 2
For the year ending 31 August 2023 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 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 Gerard Gibbs
Director
22/11/2023
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Salient Research Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05211235 . The registered office is 38A High Street, Westbury-on-Trym, Bristol, BS9 3DZ.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ...10. years.
2.4. 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 25% reducing balance
Computer Equipment 25% reducing balance
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 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 5,000
As at 31 August 2023 5,000
Amortisation
As at 1 September 2022 5,000
As at 31 August 2023 5,000
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 7,089 14,155 21,244
Additions - 124 124
As at 31 August 2023 7,089 14,279 21,368
Depreciation
As at 1 September 2022 6,617 11,695 18,312
Provided during the period 118 646 764
As at 31 August 2023 6,735 12,341 19,076
Net Book Value
As at 31 August 2023 354 1,938 2,292
As at 1 September 2022 472 2,460 2,932
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 3,825
Corporation tax recoverable assets - 423
- 4,248
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 595 651
Bank loans and overdrafts 1,299 1,299
Other taxes and social security 1,440 472
VAT 48 889
Other creditors 4,180 4,180
Director's loan account - 165
7,562 7,656
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 3,142 4,442
3,142 4,442
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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