Acorah Software Products - Accounts Production 14.5.601 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 08264187 Mr H K Patel iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08264187 2022-10-31 08264187 2023-10-31 08264187 2022-11-01 2023-10-31 08264187 frs-core:CurrentFinancialInstruments 2023-10-31 08264187 frs-core:Non-currentFinancialInstruments 2023-10-31 08264187 frs-core:ComputerEquipment 2023-10-31 08264187 frs-core:ComputerEquipment 2022-11-01 2023-10-31 08264187 frs-core:ComputerEquipment 2022-10-31 08264187 frs-core:FurnitureFittings 2023-10-31 08264187 frs-core:FurnitureFittings 2022-11-01 2023-10-31 08264187 frs-core:FurnitureFittings 2022-10-31 08264187 frs-core:ShareCapital 2023-10-31 08264187 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08264187 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08264187 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08264187 frs-bus:SmallEntities 2022-11-01 2023-10-31 08264187 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08264187 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08264187 frs-bus:Director1 2022-11-01 2023-10-31 08264187 frs-countries:EnglandWales 2022-11-01 2023-10-31 08264187 2021-10-31 08264187 2022-10-31 08264187 2021-11-01 2022-10-31 08264187 frs-core:CurrentFinancialInstruments 2022-10-31 08264187 frs-core:Non-currentFinancialInstruments 2022-10-31 08264187 frs-core:ShareCapital 2022-10-31 08264187 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 08264187
Performancebar Limited
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08264187
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,050 26,493
30,050 26,493
CURRENT ASSETS
Stocks 5 5,846 6,166
Cash at bank and in hand 145,348 199,821
151,194 205,987
Creditors: Amounts Falling Due Within One Year 6 (83,416 ) (130,621 )
NET CURRENT ASSETS (LIABILITIES) 67,778 75,366
TOTAL ASSETS LESS CURRENT LIABILITIES 97,828 101,859
Creditors: Amounts Falling Due After More Than One Year 7 (40,237 ) (41,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,905 ) (1,905 )
NET ASSETS 55,686 58,287
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 55,685 58,286
SHAREHOLDERS' FUNDS 55,686 58,287
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Page 2
For the year ending 31 October 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 H K Patel
Director
12 April 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
Performancebar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08264187 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.
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. 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 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2022: 38)
30 38
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 70,506 1,852 72,358
Additions 8,010 - 8,010
As at 31 October 2023 78,516 1,852 80,368
Depreciation
As at 1 November 2022 44,688 1,177 45,865
Provided during the period 4,339 114 4,453
As at 31 October 2023 49,027 1,291 50,318
Net Book Value
As at 31 October 2023 29,489 561 30,050
As at 1 November 2022 25,818 675 26,493
5. Stocks
2023 2022
£ £
Stock 5,846 6,166
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 22,586 22,586
Bank loans and overdrafts 6,647 8,333
Corporation tax 6,233 5,798
Other taxes and social security 777 473
VAT 21,984 23,240
Other creditors 1,000 1,000
Accruals and deferred income - 30,000
Director's loan account 24,189 39,191
83,416 130,621
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 40,237 41,667
40,237 41,667
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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