Acorah Software Products - Accounts Production 14.5.601 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 04869229 Mr Dominic Raban Mr Daniel Taylor Mrs Ruth Raban iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04869229 2022-08-31 04869229 2023-08-31 04869229 2022-09-01 2023-08-31 04869229 frs-core:CurrentFinancialInstruments 2023-08-31 04869229 frs-core:Non-currentFinancialInstruments 2023-08-31 04869229 frs-core:FurnitureFittings 2023-08-31 04869229 frs-core:FurnitureFittings 2022-09-01 2023-08-31 04869229 frs-core:FurnitureFittings 2022-08-31 04869229 frs-core:NetGoodwill 2023-08-31 04869229 frs-core:NetGoodwill 2022-09-01 2023-08-31 04869229 frs-core:NetGoodwill 2022-08-31 04869229 frs-core:MotorVehicles 2022-09-01 2023-08-31 04869229 frs-core:PlantMachinery 2023-08-31 04869229 frs-core:PlantMachinery 2022-09-01 2023-08-31 04869229 frs-core:PlantMachinery 2022-08-31 04869229 frs-core:RevaluationReserve 2022-08-31 04869229 frs-core:RevaluationReserve 2023-08-31 04869229 frs-core:ShareCapital 2023-08-31 04869229 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 04869229 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04869229 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 04869229 frs-bus:SmallEntities 2022-09-01 2023-08-31 04869229 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04869229 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04869229 frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-core:UnlistedNon-exchangeTraded 2022-08-31 04869229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-08-31 04869229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-08-31 04869229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-bus:Director1 2022-09-01 2023-08-31 04869229 frs-bus:Director2 2022-09-01 2023-08-31 04869229 frs-bus:CompanySecretary1 2022-09-01 2023-08-31 04869229 frs-countries:EnglandWales 2022-09-01 2023-08-31 04869229 2021-08-31 04869229 2022-08-31 04869229 2021-09-01 2022-08-31 04869229 frs-core:CurrentFinancialInstruments 2022-08-31 04869229 frs-core:Non-currentFinancialInstruments 2022-08-31 04869229 frs-core:RevaluationReserve 2022-08-31 04869229 frs-core:ShareCapital 2022-08-31 04869229 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31
Registered number: 04869229
Corporation Pop Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Axis Accounting
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04869229
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 19,139 24,986
Investments 6 286,139 286,139
305,278 311,125
CURRENT ASSETS
Stocks 7 66,700 66,700
Debtors 8 148,899 123,510
Cash at bank and in hand 6,195 11,494
221,794 201,704
Creditors: Amounts Falling Due Within One Year 9 (115,053 ) (96,631 )
NET CURRENT ASSETS (LIABILITIES) 106,741 105,073
TOTAL ASSETS LESS CURRENT LIABILITIES 412,019 416,198
Creditors: Amounts Falling Due After More Than One Year 10 (28,695 ) (40,975 )
NET ASSETS 383,324 375,223
CAPITAL AND RESERVES
Called up share capital 11 400 400
Revaluation reserve 12 71,250 71,250
Profit and Loss Account 311,674 303,573
SHAREHOLDERS' FUNDS 383,324 375,223
Page 1
Page 2
For the year ending 31 August 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 Dominic Raban
Director
Mr Daniel Taylor
Director
30/09/2023
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Corporation Pop Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04869229 . The registered office is 21 Shudehill, Manchester, M4 2AF.
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 10 years.
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 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.5. 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.
2.6. 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 year 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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2.6. 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 asset reflects 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 17 17
17 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 30,000
As at 31 August 2023 30,000
Amortisation
As at 1 September 2022 30,000
As at 31 August 2023 30,000
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2022 107,408 22,917 130,325
Additions 826 672 1,498
As at 31 August 2023 108,234 23,589 131,823
Depreciation
As at 1 September 2022 87,728 17,611 105,339
Provided during the period 5,685 1,660 7,345
As at 31 August 2023 93,413 19,271 112,684
Net Book Value
As at 31 August 2023 14,821 4,318 19,139
As at 1 September 2022 19,680 5,306 24,986
Page 4
Page 5
6. Investments
Unlisted
£
Cost
As at 1 September 2022 286,139
As at 31 August 2023 286,139
Provision
As at 1 September 2022 -
As at 31 August 2023 -
Net Book Value
As at 31 August 2023 286,139
As at 1 September 2022 286,139
7. Stocks
2023 2022
£ £
Work in progress 66,700 66,700
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 114,706 38,853
Prepayments and accrued income - 2,000
Other debtors 20,000 20,000
Corporation tax recoverable assets 14,193 62,657
148,899 123,510
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,167 12,852
Bank loans and overdrafts 25,274 25,000
Corporation tax - 10
PAYE 21,316 10,048
VAT 52,381 43,804
Other creditors 3,515 2,517
Accruals and deferred income 2,400 2,400
115,053 96,631
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,695 40,975
28,695 40,975
Page 5
Page 6
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 400 400
12. Reserves
Revaluation Reserve
£
As at 1 September 2022 71,250
As at 31 August 2023 71,250
Page 6