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Registered number: 07706751
LuckyCat Post Production Co Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 07706751
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 111,048 135,371
111,048 135,371
CURRENT ASSETS
Stocks 5 59,522 17,863
Debtors 6 369,002 403,080
Cash at bank and in hand 112,780 115,791
541,304 536,734
Creditors: Amounts Falling Due Within One Year 7 (267,097 ) (244,721 )
NET CURRENT ASSETS (LIABILITIES) 274,207 292,013
TOTAL ASSETS LESS CURRENT LIABILITIES 385,255 427,384
Creditors: Amounts Falling Due After More Than One Year 8 (39,217 ) (47,220 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,461 ) (23,713 )
NET ASSETS 320,577 356,451
CAPITAL AND RESERVES
Called up share capital 9 110 110
Income Statement 320,467 356,341
SHAREHOLDERS' FUNDS 320,577 356,451
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For the year ending 30 November 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 Income Statement.
On behalf of the board
Mr J P Myers
Director
05/06/2024
The notes on pages 3 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LuckyCat Post Production Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07706751 . The registered office is One Courtenay Park, Newton Abbot, Devon, TQ12 2HD.
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. 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:
Leasehold Improvements Straight line over the life of the lease
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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2.4. 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 income statement 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 income statement as incurred.
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. Financial Instruments
Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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.
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2.8. Government Grant
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognise on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of the grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at teach reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
2.10. Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 7)
9 7
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4. Tangible Assets
Land & Property
Leasehold Improvements Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 286,473 101,989 84,122 417,267 889,851
Additions - - 2,598 19,894 22,492
As at 30 November 2023 286,473 101,989 86,720 437,161 912,343
Depreciation
As at 1 December 2022 285,214 3,026 70,120 396,120 754,480
Provided during the period 398 24,741 3,320 18,356 46,815
As at 30 November 2023 285,612 27,767 73,440 414,476 801,295
Net Book Value
As at 30 November 2023 861 74,222 13,280 22,685 111,048
As at 1 December 2022 1,259 98,963 14,002 21,147 135,371
5. Stocks
2023 2022
£ £
Work in progress 59,522 17,863
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 234,653 187,252
Prepayments and accrued income 17,355 20,582
Other debtors 18,820 8,547
Amounts owed by connected companies 361 348
Corporation tax recoverable assets 3,852 90,154
Director's loan account 93,961 96,197
369,002 403,080
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 22,515 20,324
Trade creditors 33,756 28,296
Other taxes and social security 6,785 4,640
VAT 114,805 101,857
Other creditors 40,500 48,334
Amounts due to connected company 44,836 20,504
Accruals and deferred income 3,900 20,766
267,097 244,721
There is a mortgage charge dated 3 October 2012 with respect to rental deposit on 14 Poland Street.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 39,217 47,220
39,217 47,220
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 110 110
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Jonathan Myers (91,030 ) (87,281 ) 84,350 - (93,961 )
The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
Lucky Cat Audio Co Limited - Controlled by Mr J P Myers
The company incurred costs from Lucky Cat Audio Co Limited totalling £399,232 and generated income of £110,781. The balance owed to Lucky Cat Audio Co Limited at the year end was £44,835 (2022: £20,504) 
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12. Controlling Party
The company's controlling party is J Myers by virtue of his ownership of 90% of the issued share capital in the company.
13. Operating leases
The company as lessee
The total future minimum lease payments under finance lease arrangements are as follows:
More than 1 year, not later than 5 years   2023 -   £160,091   (2022 - £160,091)
These committments relate to rent.
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