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Registered number: 04305368
Dalbergia Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr Piers Paterson
Secretary Ms Morag O'Brien
Company Number 04305368
Registered Office The Old Forge
23 Bridge Street
Fordingbridge
Hampshire
SP6 1AH
Accountants Town & Forest
Chartered Accountants & Statutory Auditors
First Floor, New Barnes Mill
Cottonmill Lane
St Albans
AL1 2HA
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Page 2
Balance Sheet
Registered number: 04305368
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,251 13,248
Tangible Assets 5 81,000 37,428
91,251 50,676
CURRENT ASSETS
Stocks 6 30,000 54,420
Debtors 7 264,237 285,467
Cash at bank and in hand 96,313 17,058
390,550 356,945
Creditors: Amounts Falling Due Within One Year 8 (406,808 ) (375,393 )
NET CURRENT ASSETS (LIABILITIES) (16,258 ) (18,448 )
TOTAL ASSETS LESS CURRENT LIABILITIES 74,993 32,228
Creditors: Amounts Falling Due After More Than One Year 9 (36,061 ) (23,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,390 ) (7,111 )
NET ASSETS 23,542 1,784
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account 23,541 1,783
SHAREHOLDERS' FUNDS 23,542 1,784
Page 2
Page 3
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 Piers Paterson
Director
30 July 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Dalbergia Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04305368 . The registered office is The Old Forge, 23 Bridge Street, Fordingbridge, Hampshire, SP6 1AH.

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 currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 
2.2. Going Concern Disclosure
At 31 October 2023, the balance sheet showed net current liabilities of £16,258 (2022 - £18,448) but net assets of £23,542 (2022 - £1,784). The director has given an undertaking to financially support the company for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On this basis, the director considers it appropriate to prepare the financial statements on a 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 of goods. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software and licences. They are amortised to profit and loss account over their estimated economic life of 5 years.
2.5. 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% on reducing balance
Computer Equipment 33% on reducing balance
2.6. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.7. 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.
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2.8. Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.
2.9. 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.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.11. Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
2.12. Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2022: 20)
19 20
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 14,985
As at 31 October 2023 14,985
Amortisation
As at 1 November 2022 1,737
Provided during the period 2,997
As at 31 October 2023 4,734
...CONTINUED
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Net Book Value
As at 31 October 2023 10,251
As at 1 November 2022 13,248
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 205,334 5,715 211,049
Additions 69,713 547 70,260
Disposals (21,650 ) - (21,650 )
As at 31 October 2023 253,397 6,262 259,659
Depreciation
As at 1 November 2022 172,107 1,514 173,621
Provided during the period 22,876 1,461 24,337
Disposals (19,299 ) - (19,299 )
As at 31 October 2023 175,684 2,975 178,659
Net Book Value
As at 31 October 2023 77,713 3,287 81,000
As at 1 November 2022 33,227 4,201 37,428
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 49,162 -
6. Stocks
2023 2022
£ £
Stock 30,000 30,000
Work in progress - 24,420
30,000 54,420
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 149,471 243,759
Prepayments and accrued income 96,255 -
Other debtors 9,907 33,104
Corporation tax recoverable assets 8,604 8,604
264,237 285,467
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 19,133 -
Trade creditors 87,671 82,091
Bank loans and overdrafts 8,000 31,122
Other taxes and social security 149,738 91,963
VAT 101,143 130,450
Other creditors 10,293 8,744
Accruals and deferred income 5,154 4,957
Director's loan account 25,676 26,066
406,808 375,393
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 20,728 -
Bank loans 15,333 23,333
36,061 23,333
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,133 -
Later than one year and not later than five years 20,728 -
39,861 -
39,861 -
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 November 2022 7,111 7,111
Additions 8,279 8,279
Balance at 31 October 2023 15,390 15,390
Page 7