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Registered number: 07860037
The Fuse Creative Marketing Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
R Stride & Co LLP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07860037
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,259 3,684
3,259 3,684
CURRENT ASSETS
Debtors 6 74,571 84,655
Cash at bank and in hand 76,349 62,008
150,920 146,663
Creditors: Amounts Falling Due Within One Year 7 (52,980 ) (57,297 )
NET CURRENT ASSETS (LIABILITIES) 97,940 89,366
TOTAL ASSETS LESS CURRENT LIABILITIES 101,199 93,050
NET ASSETS 101,199 93,050
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 101,099 92,950
SHAREHOLDERS' FUNDS 101,199 93,050
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For the year ending 30 November 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 her 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
Ms Catherine Blakey
Director
25th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Fuse Creative Marketing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07860037 . The registered office is The Old Coach House Rear Of Eastville Terrace, Ripon Road, Harrogate, North Yorkshire, HG1 3HJ.
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 .... 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:
Fixtures & Fittings 15%
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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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 3
2 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 30,000
As at 30 November 2023 30,000
Amortisation
As at 1 December 2022 30,000
As at 30 November 2023 30,000
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2022 10,102
Additions 151
As at 30 November 2023 10,253
Depreciation
As at 1 December 2022 6,418
Provided during the period 576
As at 30 November 2023 6,994
Net Book Value
As at 30 November 2023 3,259
As at 1 December 2022 3,684
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 27,496 37,580
Amounts owed by associates 47,075 47,075
74,571 84,655
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,190 1,515
Corporation tax 2,013 159
PAYE 443 443
VAT 941 2,266
Pension Control 204 168
Credit card 548 289
Accruals and deferred income 1,694 1,395
Director's loan account 42,947 51,062
52,980 57,297
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
During the year a loan was made to Butler and Walrus Limited, a company associated to the director Miss Catherine Blakey. The amount of the loan was £47,075.
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