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Registered number: 04489666
Manifest Films Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
McPhersons Walpole Harding
ACCA
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Unaudited Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of Manifest Films Limited for the year ended 31 July 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Manifest Films Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Manifest Films Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Manifest Films Limited and state those matters that we have agreed to state to the directors of Manifest Films Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manifest Films Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Manifest Films Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Manifest Films Limited . You consider that Manifest Films Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Manifest Films Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
18 April 2024
McPhersons Walpole Harding
ACCA
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Page 1
Page 2
Balance Sheet
Registered number: 04489666
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,936 30,458
32,936 30,458
CURRENT ASSETS
Debtors 5 3,499 16,884
Cash at bank and in hand 23,588 52,303
27,087 69,187
Creditors: Amounts Falling Due Within One Year 6 (16,905 ) (33,546 )
NET CURRENT ASSETS (LIABILITIES) 10,182 35,641
TOTAL ASSETS LESS CURRENT LIABILITIES 43,118 66,099
Creditors: Amounts Falling Due After More Than One Year 7 (6,107 ) (8,508 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (6,258 ) (5,787 )
NET ASSETS 30,753 51,804
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 30,751 51,802
SHAREHOLDERS' FUNDS 30,753 51,804
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Page 3
For the year ending 31 July 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
Ms L Bennett
Director
18 April 2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Manifest Films Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04489666 . The registered office is 3 Beacon Hurst, Hassocks, West Sussex, BN6 8RE.
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 the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The presentation currecny is £GBP.
2.2. Going Concern Disclosure
The directors have considered the forseeable future of the company and have considered the impact of Covid-19 on the future of the business. Given the decrease in the economic effect of the pandemic at the present time, they do not consider that it will have a meterial effect on the trading potential of the company moving forwards. Accordingly, the directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern and the financial statements are prepared on the going concern basis.
2.3. 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 the rendering of services.
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. Revenue received in advance is recognised when there is no obligation to repay.
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 20% reducing balance basis
Motor Vehicles 15% reducing balance basis
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Financial Instruments
Financial instruments are recognised in the company’s statement of financial position when the company become party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured as the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings within current liabilities.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. 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.
...CONTINUED
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2.7. Taxation - continued
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: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2022 44,677 18,093 62,770
Additions 11,848 - 11,848
As at 31 July 2023 56,525 18,093 74,618
Depreciation
As at 1 August 2022 20,992 11,320 32,312
Provided during the period 7,106 2,264 9,370
As at 31 July 2023 28,098 13,584 41,682
Net Book Value
As at 31 July 2023 28,427 4,509 32,936
As at 1 August 2022 23,685 6,773 30,458
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,499 16,136
Other debtors - 748
3,499 16,884
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 2,401 2,219
Other creditors 1,574 11,011
Taxation and social security 12,930 20,316
16,905 33,546
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 6,107 8,508
6,107 8,508
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Accelerated capital allowances - 5,787
Other timing differences 6,258 -
6,258 5,787
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
During the period one ordinary £1.00 share was issued for a consideration of £1.00.
All shares rank parri passu in terms of voting, rights to a dividend and rights to a distribution on a winding up.
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