Acorah Software Products - Accounts Production 14.6.300 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09270521 Mr Adrian Walcott iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09270521 2022-10-31 09270521 2023-10-31 09270521 2022-11-01 2023-10-31 09270521 frs-core:CurrentFinancialInstruments 2023-10-31 09270521 frs-core:Non-currentFinancialInstruments 2023-10-31 09270521 frs-core:ComputerEquipment 2023-10-31 09270521 frs-core:ComputerEquipment 2022-11-01 2023-10-31 09270521 frs-core:ComputerEquipment 2022-10-31 09270521 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 09270521 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-10-31 09270521 frs-core:PlantMachinery 2023-10-31 09270521 frs-core:PlantMachinery 2022-11-01 2023-10-31 09270521 frs-core:PlantMachinery 2022-10-31 09270521 frs-core:ShareCapital 2023-10-31 09270521 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09270521 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09270521 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09270521 frs-bus:SmallEntities 2022-11-01 2023-10-31 09270521 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09270521 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09270521 frs-bus:Director1 2022-11-01 2023-10-31 09270521 frs-countries:EnglandWales 2022-11-01 2023-10-31 09270521 2021-10-31 09270521 2022-10-31 09270521 2021-11-01 2022-10-31 09270521 frs-core:CurrentFinancialInstruments 2022-10-31 09270521 frs-core:Non-currentFinancialInstruments 2022-10-31 09270521 frs-core:ShareCapital 2022-10-31 09270521 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 09270521
Brands With Values Limited
Financial Statements
For The Year Ended 31 October 2023
Shabbir & Co
Chartered Certified Accountants
248 Brockley Road
London
SE4 2SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09270521
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 93,499 93,499
Tangible Assets 5 10,265 12,297
103,764 105,796
CURRENT ASSETS
Debtors 6 263,943 114,333
Cash at bank and in hand 44,547 19,391
308,490 133,724
Creditors: Amounts Falling Due Within One Year 7 (303,447 ) (146,624 )
NET CURRENT ASSETS (LIABILITIES) 5,043 (12,900 )
TOTAL ASSETS LESS CURRENT LIABILITIES 108,807 92,896
Creditors: Amounts Falling Due After More Than One Year 8 (8,800 ) (16,000 )
NET ASSETS 100,007 76,896
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 99,907 76,796
SHAREHOLDERS' FUNDS 100,007 76,896
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For the year ending 31 October 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 Adrian Walcott
Director
24th July 2024
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
Brands With Values Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09270521 . The registered office is 138 Inchmery Road, London, SE6 1DF.
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.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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
Computer Equipment 20% reducing balance
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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. 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: 2 (2022: 2)
2 2
4. Intangible Assets
Development Costs
£
Cost
As at 1 November 2022 93,499
As at 31 October 2023 93,499
Net Book Value
As at 31 October 2023 93,499
As at 1 November 2022 93,499
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5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 10,010 7,322 17,332
Additions - 535 535
As at 31 October 2023 10,010 7,857 17,867
Depreciation
As at 1 November 2022 2,002 3,033 5,035
Provided during the period 1,602 965 2,567
As at 31 October 2023 3,604 3,998 7,602
Net Book Value
As at 31 October 2023 6,406 3,859 10,265
As at 1 November 2022 8,008 4,289 12,297
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 217,822 75,276
Other debtors 46,121 39,057
263,943 114,333
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts - 14,189
Other loans 99,697 87,666
Other creditors 94,134 4,857
Taxation and social security 109,616 39,912
303,447 146,624
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 8,800 16,000
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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