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Registered number: 11856569
Pedal Pawn Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11856569
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,193 5,716
Tangible Assets 5 47,047 60,675
50,240 66,391
CURRENT ASSETS
Stocks 6 71,494 3,591
Debtors 7 61,724 20,038
Cash at bank and in hand 218,899 56,456
352,117 80,085
Creditors: Amounts Falling Due Within One Year 8 (86,655 ) (11,097 )
NET CURRENT ASSETS (LIABILITIES) 265,462 68,988
TOTAL ASSETS LESS CURRENT LIABILITIES 315,702 135,379
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,939 ) (12,329 )
NET ASSETS 306,763 123,050
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 306,663 122,950
SHAREHOLDERS' FUNDS 306,763 123,050
Page 1
Page 2
For the year ending 31 March 2024 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 Christopher Robinson
Director
01/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Pedal Pawn Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11856569 . The registered office is 21 Orton Enterprise Centre, Bakewell Road, Peterborough, PE2 6XU.
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.

2.3. 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 5 years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets include a trademark. It is amortised to the profit and loss account over its estimated economic life of 10 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% reducing balance
2.6. 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.
2.7. 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 year 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 asset reflects 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.
...CONTINUED
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2.7. Taxation - continued
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.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 3 2
3 2
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 April 2023 10,000 5,230 15,230
As at 31 March 2024 10,000 5,230 15,230
Amortisation
As at 1 April 2023 8,000 1,514 9,514
Provided during the period 2,000 523 2,523
As at 31 March 2024 10,000 2,037 12,037
Net Book Value
As at 31 March 2024 - 3,193 3,193
As at 1 April 2023 2,000 3,716 5,716
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 99,813
Additions 14,418
Disposals (17,311 )
As at 31 March 2024 96,920
Depreciation
As at 1 April 2023 39,138
Provided during the period 15,682
Disposals (4,947 )
As at 31 March 2024 49,873
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2024 47,047
As at 1 April 2023 60,675
6. Stocks
2024 2023
£ £
Materials 40,005 -
Finished goods 31,489 3,591
71,494 3,591
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 59,960 19,531
Other debtors 1,764 507
61,724 20,038
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6 46
Other taxes and social security 78,128 7,758
Other creditors 8,521 3,293
86,655 11,097
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £222.36 (2023: £300.36) were due to the fund. They are included in Other Creditors.
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