Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12777596 Mr L P Ward Mr A Anyani-Boadum iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12777596 2022-07-31 12777596 2023-07-31 12777596 2022-08-01 2023-07-31 12777596 frs-core:CurrentFinancialInstruments 2023-07-31 12777596 frs-core:Non-currentFinancialInstruments 2023-07-31 12777596 frs-core:ComputerEquipment 2023-07-31 12777596 frs-core:ComputerEquipment 2022-08-01 2023-07-31 12777596 frs-core:ComputerEquipment 2022-07-31 12777596 frs-core:FurnitureFittings 2023-07-31 12777596 frs-core:FurnitureFittings 2022-08-01 2023-07-31 12777596 frs-core:FurnitureFittings 2022-07-31 12777596 frs-core:MotorVehicles 2023-07-31 12777596 frs-core:MotorVehicles 2022-08-01 2023-07-31 12777596 frs-core:MotorVehicles 2022-07-31 12777596 frs-core:OtherResidualIntangibleAssets 2023-07-31 12777596 frs-core:OtherResidualIntangibleAssets 2022-07-31 12777596 frs-core:ShareCapital 2023-07-31 12777596 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12777596 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12777596 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12777596 frs-bus:SmallEntities 2022-08-01 2023-07-31 12777596 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12777596 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12777596 frs-bus:Director1 2022-08-01 2023-07-31 12777596 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 12777596 frs-core:CurrentFinancialInstruments 1 2023-07-31 12777596 frs-countries:EnglandWales 2022-08-01 2023-07-31 12777596 2021-07-31 12777596 2022-07-31 12777596 2021-08-01 2022-07-31 12777596 frs-core:CurrentFinancialInstruments 2022-07-31 12777596 frs-core:Non-currentFinancialInstruments 2022-07-31 12777596 frs-core:ShareCapital 2022-07-31 12777596 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31 12777596 frs-core:CurrentFinancialInstruments 1 2022-07-31
Registered number: 12777596
Mamhead Management Ltd
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12777596
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 736 736
Tangible Assets 5 29,114 36,887
29,850 37,623
CURRENT ASSETS
Debtors 6 398,560 431,063
Cash at bank and in hand 27,309 83,131
425,869 514,194
Creditors: Amounts Falling Due Within One Year 7 (17,836 ) (7,306 )
NET CURRENT ASSETS (LIABILITIES) 408,033 506,888
TOTAL ASSETS LESS CURRENT LIABILITIES 437,883 544,511
Creditors: Amounts Falling Due After More Than One Year 8 - (364,966 )
NET ASSETS 437,883 179,545
CAPITAL AND RESERVES
Called up share capital 9 102 102
Profit and Loss Account 437,781 179,443
SHAREHOLDERS' FUNDS 437,883 179,545
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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 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 L P Ward
Director
30 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mamhead Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12777596 . The registered office is 1st Floor 22 Grosvenor Gardens, Belgravia, London, SW1W 0DH. With effect from 17th April 2024, the name of the Company was changed from Migom Global Ltd to Mamhead Management Ltd.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. 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.
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: 21 (2022: 20)
21 20
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4. Intangible Assets
Other
£
Cost
As at 1 August 2022 736
As at 31 July 2023 736
Net Book Value
As at 31 July 2023 736
As at 1 August 2022 736
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2022 28,490 2,385 32,070 62,945
Additions - - 1,631 1,631
As at 31 July 2023 28,490 2,385 33,701 64,576
Depreciation
As at 1 August 2022 12,465 1,045 12,548 26,058
Provided during the period 4,006 336 5,062 9,404
As at 31 July 2023 16,471 1,381 17,610 35,462
Net Book Value
As at 31 July 2023 12,019 1,004 16,091 29,114
As at 1 August 2022 16,025 1,340 19,522 36,887
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,259 3,474
Other debtors 136,632 136,632
Deferred tax current asset 260,669 207,654
VAT - 9,548
Director's loan account - 73,755
398,560 431,063
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1,137
VAT 10,919 -
Pension creditor 3,748 3,669
Accruals and deferred income 2,500 2,500
Director's loan account 669 -
17,836 7,306
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors - 364,966
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 102 102
10. Related Party Transactions
At the balance sheet date, the amount owed to the directorthrough the directors loan account totalled £669 (2022: £73,755 owed to the company by the director).
The directors loan account is unsecured, interest free and repayable on demand.
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