Acorah Software Products - Accounts Production 14.5.601 false true true 30 September 2022 1 October 2021 false 1 October 2022 31 July 2023 31 July 2023 12777718 P Day L Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12777718 2022-09-30 12777718 2023-07-31 12777718 2022-10-01 2023-07-31 12777718 frs-core:CurrentFinancialInstruments 2023-07-31 12777718 frs-core:ShareCapital 2023-07-31 12777718 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12777718 frs-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-07-31 12777718 frs-bus:FilletedAccounts 2022-10-01 2023-07-31 12777718 frs-bus:SmallEntities 2022-10-01 2023-07-31 12777718 frs-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-07-31 12777718 frs-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-07-31 12777718 frs-bus:Director1 2022-10-01 2023-07-31 12777718 frs-bus:Director2 2022-10-01 2023-07-31 12777718 frs-countries:EnglandWales 2022-10-01 2023-07-31 12777718 2021-09-30 12777718 2022-09-30 12777718 2021-10-01 2022-09-30 12777718 frs-core:CurrentFinancialInstruments 2022-09-30 12777718 frs-core:ShareCapital 2022-09-30 12777718 frs-core:RetainedEarningsAccumulatedLosses 2022-09-30
Registered number: 12777718
Family Office Tax Limited
Unaudited Financial Statements
For the Period 1 October 2022 to 31 July 2023
Adams Accountancy
Chartered Accountants
Heritage House, 34b North Cray Road
Bexley
Kent
DA5 3LZ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12777718
31 July 2023 30 September 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 33 5,078
Cash at bank and in hand 681 56,338
714 61,416
Creditors: Amounts Falling Due Within One Year 5 (34 ) (6,834 )
NET CURRENT ASSETS (LIABILITIES) 680 54,582
TOTAL ASSETS LESS CURRENT LIABILITIES 680 54,582
NET ASSETS 680 54,582
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 580 54,482
SHAREHOLDERS' FUNDS 680 54,582
For the period 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
L Jones
Director
20/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Family Office Tax Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12777718 . The registered office is 8 Hillside Road, Crayford, Dartford, DA1 3NS.
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. Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as the company has ceased trading.
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 of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
2.4. 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 period was: 2 (2022: 2)
2 2
Page 2
Page 3
4. Debtors
31 July 2023 30 September 2022
£ £
Due within one year
Trade debtors - 4,786
Other debtors 33 292
33 5,078
5. Creditors: Amounts Falling Due Within One Year
31 July 2023 30 September 2022
£ £
Amounts owed to participating interests 34 3,523
Other creditors - 1,600
Taxation and social security - 1,711
34 6,834
6. Share Capital
31 July 2023 30 September 2022
£ £
Allotted, Called up and fully paid 100 100
7. Related Party Transactions
At the Balance Sheet date, the company owed its directors £nil (2022: £1,600). This amount is interest free and repayable on demand.
At the Balance Sheet date, the company owed Family Office Tax Services LLP £34 (2022: £3,523). This amount is interest free and repayable on demand.
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