Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09836261 Mr Graham Temple Mrs Rebecca Temple Mr Ronald Temple Mrs Sarah Temple Mr Delwin Pallister iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09836261 2022-12-31 09836261 2023-12-31 09836261 2023-01-01 2023-12-31 09836261 frs-core:CurrentFinancialInstruments 2023-12-31 09836261 frs-core:ComputerEquipment 2023-12-31 09836261 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09836261 frs-core:ComputerEquipment 2022-12-31 09836261 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 09836261 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 09836261 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 09836261 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09836261 frs-core:FurnitureFittings 2023-12-31 09836261 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09836261 frs-core:FurnitureFittings 2022-12-31 09836261 frs-core:NetGoodwill 2023-12-31 09836261 frs-core:NetGoodwill 2023-01-01 2023-12-31 09836261 frs-core:NetGoodwill 2022-12-31 09836261 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 09836261 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09836261 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 09836261 frs-core:MotorVehicles 2023-12-31 09836261 frs-core:MotorVehicles 2023-01-01 2023-12-31 09836261 frs-core:MotorVehicles 2022-12-31 09836261 frs-core:OtherResidualIntangibleAssets 2023-12-31 09836261 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 09836261 frs-core:OtherResidualIntangibleAssets 2022-12-31 09836261 frs-core:PlantMachinery 2023-12-31 09836261 frs-core:PlantMachinery 2023-01-01 2023-12-31 09836261 frs-core:PlantMachinery 2022-12-31 09836261 frs-core:ShareCapital 2023-12-31 09836261 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09836261 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09836261 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09836261 frs-bus:SmallEntities 2023-01-01 2023-12-31 09836261 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09836261 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09836261 frs-bus:Director1 2023-01-01 2023-12-31 09836261 frs-bus:Director2 2023-01-01 2023-12-31 09836261 frs-bus:Director3 2023-01-01 2023-12-31 09836261 frs-bus:Director4 2023-01-01 2023-12-31 09836261 frs-bus:Director5 2023-01-01 2023-12-31 09836261 frs-countries:EnglandWales 2023-01-01 2023-12-31 09836261 2021-12-31 09836261 2022-12-31 09836261 2022-01-01 2022-12-31 09836261 frs-core:CurrentFinancialInstruments 2022-12-31 09836261 frs-core:ShareCapital 2022-12-31 09836261 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09836261
Arrow Group Global Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Montacs
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09836261
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,392 75,613
Tangible Assets 5 289,555 325,029
329,947 400,642
CURRENT ASSETS
Stocks 6 1,409,720 1,537,014
Debtors 7 1,435,319 1,136,497
Cash at bank and in hand 764,780 694,836
3,609,819 3,368,347
Creditors: Amounts Falling Due Within One Year 8 (1,824,257 ) (1,868,875 )
NET CURRENT ASSETS (LIABILITIES) 1,785,562 1,499,472
TOTAL ASSETS LESS CURRENT LIABILITIES 2,115,509 1,900,114
PROVISIONS FOR LIABILITIES
Deferred Taxation (72,389 ) (70,998 )
NET ASSETS 2,043,120 1,829,116
CAPITAL AND RESERVES
Called up share capital 9 1,300 1,200
Profit and Loss Account 2,041,820 1,827,916
SHAREHOLDERS' FUNDS 2,043,120 1,829,116
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Delwin Pallister
Director
31/03/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Arrow Group Global Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09836261 . The registered office is Compass House, Waveney Drive, Lowestoft, Suffolk, NR33 0TP.
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 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account at 40% on a reducing balance basis
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are patents and licences. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.6. 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:
Leasehold 20% Reducing Balance
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 40% Reducing Balance
Leasehold Land & Buildings depreciated in accordance with the property
2.7. 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.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 36 (2022: 38)
36 38
4. Intangible Assets
Goodwill Other Intellectual Property Total
£ £ £ £
Cost
As at 1 January 2023 138,500 55,933 98,886 293,319
As at 31 December 2023 138,500 55,933 98,886 293,319
Amortisation
As at 1 January 2023 102,042 48,671 66,993 217,706
Provided during the period 17,500 2,905 14,816 35,221
As at 31 December 2023 119,542 51,576 81,809 252,927
Net Book Value
As at 31 December 2023 18,958 4,357 17,077 40,392
As at 1 January 2023 36,458 7,262 31,893 75,613
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 209,699 165,865 131,206 88,402
Additions 62,893 - - 3,050
Disposals - (19,461 ) (5,250 ) -
As at 31 December 2023 272,592 146,404 125,956 91,452
Depreciation
As at 1 January 2023 110,345 68,512 86,966 30,449
Provided during the period 45,628 18,163 10,660 11,823
Disposals - (7,812 ) (2,805 ) -
As at 31 December 2023 155,973 78,863 94,821 42,272
Net Book Value
As at 31 December 2023 116,619 67,541 31,135 49,180
As at 1 January 2023 99,354 97,353 44,240 57,953
Computer Equipment Total
£ £
Cost
As at 1 January 2023 71,468 666,640
Additions 11,524 77,467
Disposals (8,081 ) (32,792 )
As at 31 December 2023 74,911 711,315
Depreciation
As at 1 January 2023 45,339 341,611
Provided during the period 12,573 98,847
Disposals (8,081 ) (18,698 )
As at 31 December 2023 49,831 421,760
Net Book Value
As at 31 December 2023 25,080 289,555
As at 1 January 2023 26,129 325,029
6. Stocks
2023 2022
£ £
Stock 1,409,720 1,537,014
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7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,037,921 855,832
Prepayments and accrued income 128,069 119,524
Other debtors 183,496 76,906
Directors' loan accounts 85,833 84,235
1,435,319 1,136,497
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 359,028 400,608
Bank loans and overdrafts 7,342 67,903
Corporation tax 218,794 119,450
Other taxes and social security 35,483 27,371
VAT 234,041 256,444
Other creditors 5,654 4,057
Accruals and deferred income 261,513 269,831
Directors' loan accounts 103,312 124,111
Amounts owed to group undertakings 599,090 599,100
1,824,257 1,868,875
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,300 1,200
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: Mr & Mrs R Temple £85,832.95 (2022 £84,234.65)
The above loan is unsecured, interest free and repayable on demand.
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