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 09169790 Mr Mark Nicolaides Mr Nicholas Wright iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09169790 2022-10-31 09169790 2023-10-31 09169790 2022-11-01 2023-10-31 09169790 frs-core:CurrentFinancialInstruments 2023-10-31 09169790 frs-core:Non-currentFinancialInstruments 2023-10-31 09169790 frs-core:ComputerEquipment 2023-10-31 09169790 frs-core:ComputerEquipment 2022-11-01 2023-10-31 09169790 frs-core:ComputerEquipment 2022-10-31 09169790 frs-core:FurnitureFittings 2023-10-31 09169790 frs-core:FurnitureFittings 2022-11-01 2023-10-31 09169790 frs-core:FurnitureFittings 2022-10-31 09169790 frs-core:MotorVehicles 2023-10-31 09169790 frs-core:MotorVehicles 2022-11-01 2023-10-31 09169790 frs-core:MotorVehicles 2022-10-31 09169790 frs-core:PlantMachinery 2023-10-31 09169790 frs-core:PlantMachinery 2022-11-01 2023-10-31 09169790 frs-core:PlantMachinery 2022-10-31 09169790 frs-core:ShareCapital 2023-10-31 09169790 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09169790 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09169790 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09169790 frs-bus:SmallEntities 2022-11-01 2023-10-31 09169790 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09169790 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09169790 frs-bus:Director1 2022-11-01 2023-10-31 09169790 frs-bus:Director2 2022-11-01 2023-10-31 09169790 frs-countries:EnglandWales 2022-11-01 2023-10-31 09169790 2021-10-31 09169790 2022-10-31 09169790 2021-11-01 2022-10-31 09169790 frs-core:CurrentFinancialInstruments 2022-10-31 09169790 frs-core:Non-currentFinancialInstruments 2022-10-31 09169790 frs-core:ShareCapital 2022-10-31 09169790 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 09169790
M.Nic Group Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Accountinext Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09169790
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,727 29,714
53,727 29,714
CURRENT ASSETS
Stocks 5 1,003 855
Debtors 6 182,504 147,878
Cash at bank and in hand 121,091 70,801
304,598 219,534
Creditors: Amounts Falling Due Within One Year 7 (248,529 ) (193,665 )
NET CURRENT ASSETS (LIABILITIES) 56,069 25,869
TOTAL ASSETS LESS CURRENT LIABILITIES 109,796 55,583
Creditors: Amounts Falling Due After More Than One Year 8 (16,563 ) (26,563 )
NET ASSETS 93,233 29,020
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 93,232 29,019
SHAREHOLDERS' FUNDS 93,233 29,020
Page 1
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Mark Nicolaides
Director
Mr Nicholas Wright
Director
27/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M.Nic Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09169790 . The registered office is Unit 10 Edge Business Park, Brownfields, Welwyn Garden City, AL7 1WX.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 2)
8 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 59,811 16,300 223 - 76,334
Additions 12,449 28,500 - 1,090 42,039
As at 31 October 2023 72,260 44,800 223 1,090 118,373
Depreciation
As at 1 November 2022 42,489 4,075 56 - 46,620
Provided during the period 7,443 10,181 42 360 18,026
As at 31 October 2023 49,932 14,256 98 360 64,646
...CONTINUED
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Net Book Value
As at 31 October 2023 22,328 30,544 125 730 53,727
As at 1 November 2022 17,322 12,225 167 - 29,714
5. Stocks
2023 2022
£ £
Stock 1,003 855
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 118,282 130,387
VAT - 568
Amounts owed by group undertakings 9,844 -
128,126 130,955
Due after more than one year
Other taxes and social security 54,378 16,923
182,504 147,878
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,364 27,369
Other loans 10,938 10,938
Other taxes and social security 127,579 82,625
VAT 22,195 -
Net wages 14,824 19,615
Other creditors 7,714 5,615
Accruals and deferred income 3,660 2,400
Directors' loan accounts 43,255 45,103
248,529 193,665
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 16,563 26,563
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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