Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09304127 Mr F C Pietrantonio Mrs S Lawler Mr W Lawler iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09304127 2022-12-31 09304127 2023-12-31 09304127 2023-01-01 2023-12-31 09304127 frs-core:CurrentFinancialInstruments 2023-12-31 09304127 frs-core:FurnitureFittings 2023-12-31 09304127 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09304127 frs-core:FurnitureFittings 2022-12-31 09304127 frs-core:NetGoodwill 2023-12-31 09304127 frs-core:NetGoodwill 2023-01-01 2023-12-31 09304127 frs-core:NetGoodwill 2022-12-31 09304127 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09304127 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09304127 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09304127 frs-core:PlantMachinery 2023-12-31 09304127 frs-core:PlantMachinery 2023-01-01 2023-12-31 09304127 frs-core:PlantMachinery 2022-12-31 09304127 frs-core:ShareCapital 2023-12-31 09304127 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09304127 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09304127 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09304127 frs-bus:SmallEntities 2023-01-01 2023-12-31 09304127 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09304127 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09304127 frs-bus:Director1 2023-01-01 2023-12-31 09304127 frs-bus:Director2 2023-01-01 2023-12-31 09304127 frs-bus:Director3 2023-01-01 2023-12-31 09304127 frs-core:CurrentFinancialInstruments 1 2023-12-31 09304127 frs-countries:EnglandWales 2023-01-01 2023-12-31 09304127 2021-12-31 09304127 2022-12-31 09304127 2022-01-01 2022-12-31 09304127 frs-core:CurrentFinancialInstruments 2022-12-31 09304127 frs-core:ShareCapital 2022-12-31 09304127 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09304127 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 09304127
Ac Ins Consultants Ltd
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09304127
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 4,000 8,000
Tangible Assets 4 138,300 139,402
142,300 147,402
CURRENT ASSETS
Debtors 5 58,000 60,780
Cash at bank and in hand 256,816 257,674
314,816 318,454
Creditors: Amounts Falling Due Within One Year 6 (190,281 ) (175,909 )
NET CURRENT ASSETS (LIABILITIES) 124,535 142,545
TOTAL ASSETS LESS CURRENT LIABILITIES 266,835 289,947
PROVISIONS FOR LIABILITIES
Deferred Taxation (627 ) (836 )
NET ASSETS 266,208 289,111
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 266,206 289,109
SHAREHOLDERS' FUNDS 266,208 289,111
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For the year ending 31 December 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 F C Pietrantonio
Director
22 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. Accounting Policies
1.1. 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.
1.2. 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.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4. 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:
Freehold No depreciation applied
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
1.5. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 6 (2022: 7)
6 7
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3. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 40,000
As at 31 December 2023 40,000
Amortisation
As at 1 January 2023 32,000
Provided during the period 4,000
As at 31 December 2023 36,000
Net Book Value
As at 31 December 2023 4,000
As at 1 January 2023 8,000
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 135,000 10,006 6,294 151,300
As at 31 December 2023 135,000 10,006 6,294 151,300
Depreciation
As at 1 January 2023 - 7,576 4,322 11,898
Provided during the period - 609 493 1,102
As at 31 December 2023 - 8,185 4,815 13,000
Net Book Value
As at 31 December 2023 135,000 1,821 1,479 138,300
As at 1 January 2023 135,000 2,430 1,972 139,402
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 58,000 60,780
58,000 60,780
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 15,376 8,670
Other taxes and social security 1,787 2,168
Amounts owed to insurers 146,905 137,951
Accruals and deferred income 26,213 26,955
Directors' loan accounts - 165
190,281 175,909
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
8. General Information
Ac Ins Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09304127 . The registered office is 1 Westdale Lane, Carlton, Nottingham, NG4 3JF.
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