Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2022 1 April 2021 false 1 April 2022 31 March 2023 31 March 2023 OC407407 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC407407 2022-03-31 OC407407 2023-03-31 OC407407 2022-04-01 2023-03-31 OC407407 frs-core:CurrentFinancialInstruments 2023-03-31 OC407407 frs-core:Non-currentFinancialInstruments 2023-03-31 OC407407 frs-core:ComputerEquipment 2023-03-31 OC407407 frs-core:ComputerEquipment 2022-04-01 2023-03-31 OC407407 frs-core:ComputerEquipment 2022-03-31 OC407407 frs-core:FurnitureFittings 2023-03-31 OC407407 frs-core:FurnitureFittings 2022-04-01 2023-03-31 OC407407 frs-core:FurnitureFittings 2022-03-31 OC407407 frs-core:NetGoodwill 2023-03-31 OC407407 frs-core:NetGoodwill 2022-04-01 2023-03-31 OC407407 frs-core:NetGoodwill 2022-03-31 OC407407 frs-core:PlantMachinery 2022-04-01 2023-03-31 OC407407 frs-bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC407407 frs-bus:LimitedLiabilityPartnershipsSORP 2022-04-01 2023-03-31 OC407407 frs-bus:FilletedAccounts 2022-04-01 2023-03-31 OC407407 frs-bus:SmallEntities 2022-04-01 2023-03-31 OC407407 frs-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC407407 frs-bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC407407 frs-countries:EnglandWales 2022-04-01 2023-03-31 OC407407 frs-bus:PartnerLLP1 2022-04-01 2023-03-31 OC407407 2021-03-31 OC407407 2022-03-31 OC407407 2021-04-01 2022-03-31 OC407407 frs-core:CurrentFinancialInstruments 2022-03-31 OC407407 frs-core:Non-currentFinancialInstruments 2022-03-31
Registered number: OC407407
Hobbs Thomas & Company LLP
Unaudited Financial Statements
For The Year Ended 31 March 2023
Hobbs Thomas & Company LLP
Certified Public Accountants
Orchard House
118 Sweechgate
Broad Oak
Kent
CT2 0QP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC407407
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 50,000 50,000
Tangible Assets 5 3,196 492
53,196 50,492
CURRENT ASSETS
Debtors 6 - 5,780
Cash at bank and in hand 1,519 10,630
1,519 16,410
Creditors: Amounts Falling Due Within One Year 7 (8,595 ) (8,869 )
NET CURRENT ASSETS (LIABILITIES) (7,076 ) 7,541
TOTAL ASSETS LESS CURRENT LIABILITIES 46,120 58,033
Creditors: Amounts Falling Due After More Than One Year 8 (10,250 ) (17,284 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 35,870 40,749
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 8,365 -
8,365 -
Equity
Members' other interests
Members' capital 27,505 40,749
27,505 40,749
35,870 40,749
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 8,365 -
Members' other interests 27,505 40,749
35,870 40,749
Page 1
Page 2
For the year ending 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Shelley Hobbs
Partner
31st March 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hobbs Thomas & Company LLP is a limited liability partnership, incorporated in England & Wales, registered number OC407407 . The Registered Office is Orchard House, 118 Sweechgate, Broad Oak, Kent, CT2 0QP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
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 stated at cost less depreciation. 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% RB
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% RB
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 2)
1 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2022 50,000
As at 31 March 2023 50,000
Net Book Value
As at 31 March 2023 50,000
As at 1 April 2022 50,000
Page 3
Page 4
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2022 2,000 - 2,000
Additions - 3,502 3,502
As at 31 March 2023 2,000 3,502 5,502
Depreciation
As at 1 April 2022 1,508 - 1,508
Provided during the period 98 700 798
As at 31 March 2023 1,606 700 2,306
Net Book Value
As at 31 March 2023 394 2,802 3,196
As at 1 April 2022 492 - 492
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 5,780
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 (1 )
Bank loans and overdrafts 4,200 4,428
VAT 4,394 4,442
8,595 8,869
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,250 17,284
Page 4