Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 11612989 Mr Ernest Nwadinobi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11612989 2022-10-31 11612989 2023-10-31 11612989 2022-11-01 2023-10-31 11612989 frs-core:CurrentFinancialInstruments 2023-10-31 11612989 frs-core:Non-currentFinancialInstruments 2023-10-31 11612989 frs-core:ComputerEquipment 2023-10-31 11612989 frs-core:ComputerEquipment 2022-11-01 2023-10-31 11612989 frs-core:ComputerEquipment 2022-10-31 11612989 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-01 2023-10-31 11612989 frs-core:FurnitureFittings 2023-10-31 11612989 frs-core:FurnitureFittings 2022-11-01 2023-10-31 11612989 frs-core:FurnitureFittings 2022-10-31 11612989 frs-core:OtherResidualIntangibleAssets 2023-10-31 11612989 frs-core:OtherResidualIntangibleAssets 2022-11-01 2023-10-31 11612989 frs-core:OtherResidualIntangibleAssets 2022-10-31 11612989 frs-core:ShareCapital 2023-10-31 11612989 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 11612989 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11612989 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 11612989 frs-bus:SmallEntities 2022-11-01 2023-10-31 11612989 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 11612989 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11612989 frs-bus:Director1 2022-11-01 2023-10-31 11612989 frs-countries:EnglandWales 2022-11-01 2023-10-31 11612989 2021-10-31 11612989 2022-10-31 11612989 2021-11-01 2022-10-31 11612989 frs-core:CurrentFinancialInstruments 2022-10-31 11612989 frs-core:Non-currentFinancialInstruments 2022-10-31 11612989 frs-core:ShareCapital 2022-10-31 11612989 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 11612989
Ernest c & Co Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Naylor Accountancy Services Ltd
25 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11612989
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 24,500 28,000
Tangible Assets 5 8,016 6,126
32,516 34,126
CURRENT ASSETS
Debtors 6 7,883 6,123
Cash at bank and in hand 30,191 26,374
38,074 32,497
Creditors: Amounts Falling Due Within One Year 7 (23,249 ) (23,007 )
NET CURRENT ASSETS (LIABILITIES) 14,825 9,490
TOTAL ASSETS LESS CURRENT LIABILITIES 47,341 43,616
Creditors: Amounts Falling Due After More Than One Year 8 (30,000 ) (30,000 )
NET ASSETS 17,341 13,616
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 17,340 13,615
SHAREHOLDERS' FUNDS 17,341 13,616
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Page 2
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 Ernest Nwadinobi
Director
29th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ernest c & Co Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11612989 . The registered office is Post And Packing 317 Shirley Road, Southampton, SO15 3HW.
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 - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Franchise fees: Straight line over 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:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.7. 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: NIL)
2 -
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 35,000
As at 31 October 2023 35,000
Amortisation
As at 1 November 2022 7,000
Provided during the period 3,500
As at 31 October 2023 10,500
Net Book Value
As at 31 October 2023 24,500
As at 1 November 2022 28,000
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 2,312 9,222 11,534
Additions 258 4,669 4,927
As at 31 October 2023 2,570 13,891 16,461
Depreciation
As at 1 November 2022 1,088 4,320 5,408
Provided during the period 642 2,395 3,037
As at 31 October 2023 1,730 6,715 8,445
Net Book Value
As at 31 October 2023 840 7,176 8,016
As at 1 November 2022 1,224 4,902 6,126
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - (545 )
Other debtors 7,883 6,668
7,883 6,123
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 20,279 20,286
Other creditors 902 283
Taxation and social security 2,068 2,438
23,249 23,007
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 30,000 30,000
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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