Acorah Software Products - Accounts Production 15.0.500 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 13203976 Jennie Gillam Nicola Hageman Clare Haynes Shaun Longhurst iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13203976 2023-02-28 13203976 2024-02-29 13203976 2023-03-01 2024-02-29 13203976 frs-core:CurrentFinancialInstruments 2024-02-29 13203976 frs-core:Non-currentFinancialInstruments 2024-02-29 13203976 frs-core:ComputerEquipment 2024-02-29 13203976 frs-core:ComputerEquipment 2023-03-01 2024-02-29 13203976 frs-core:ComputerEquipment 2023-02-28 13203976 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 13203976 frs-core:OtherResidualIntangibleAssets 2024-02-29 13203976 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 13203976 frs-core:OtherResidualIntangibleAssets 2023-02-28 13203976 frs-core:SharePremium 2024-02-29 13203976 frs-core:ShareCapital 2024-02-29 13203976 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13203976 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13203976 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13203976 frs-bus:SmallEntities 2023-03-01 2024-02-29 13203976 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13203976 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13203976 frs-bus:Director1 2023-03-01 2024-02-29 13203976 frs-bus:Director2 2023-03-01 2024-02-29 13203976 frs-bus:Director3 2023-03-01 2024-02-29 13203976 frs-bus:Director4 2023-03-01 2024-02-29 13203976 frs-countries:EnglandWales 2023-03-01 2024-02-29 13203976 2022-02-28 13203976 2023-02-28 13203976 2022-03-01 2023-02-28 13203976 frs-core:CurrentFinancialInstruments 2023-02-28 13203976 frs-core:Non-currentFinancialInstruments 2023-02-28 13203976 frs-core:SharePremium 2023-02-28 13203976 frs-core:ShareCapital 2023-02-28 13203976 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13203976
FreshPay Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Red Fish Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13203976
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 826,658 688,837
Tangible Assets 5 649 1,144
827,307 689,981
CURRENT ASSETS
Debtors 6 9,704 1,283
Cash at bank and in hand 3,853 23,236
13,557 24,519
Creditors: Amounts Falling Due Within One Year 7 (123,877 ) (120,298 )
NET CURRENT ASSETS (LIABILITIES) (110,320 ) (95,779 )
TOTAL ASSETS LESS CURRENT LIABILITIES 716,987 594,202
Creditors: Amounts Falling Due After More Than One Year 8 (666,689 ) (389,711 )
NET ASSETS 50,298 204,491
CAPITAL AND RESERVES
Called up share capital 9 212,348 212,348
Share premium account 179,685 179,685
Profit and Loss Account (341,735 ) (187,542 )
SHAREHOLDERS' FUNDS 50,298 204,491
Page 1
Page 2
For the year ending 29 February 2024 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
Nicola Hageman
Director
22/07/2024
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
FreshPay Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13203976 . The registered office is Unit 2 Pondtail Farm, Coolham Road, West Grinstead, West Sussex, RH13 8LN.
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
Other intangible assets are development. It is amortised to profit and loss account over its estimated economic life of 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:
Computer Equipment 3 years
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 759,829
Additions 225,760
As at 29 February 2024 985,589
Amortisation
As at 1 March 2023 70,992
Provided during the period 87,939
As at 29 February 2024 158,931
Net Book Value
As at 29 February 2024 826,658
As at 1 March 2023 688,837
Page 3
Page 4
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 March 2023 1,483
As at 29 February 2024 1,483
Depreciation
As at 1 March 2023 339
Provided during the period 495
As at 29 February 2024 834
Net Book Value
As at 29 February 2024 649
As at 1 March 2023 1,144
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100 -
Prepayments and accrued income 9,321 -
Other debtors 283 -
VAT - 1,282
Net wages - 1
9,704 1,283
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,577 272
Other loans 110,720 -
Other taxes and social security 211 1,241
Other creditors 218 101,835
Accruals and deferred income 11,151 16,950
123,877 120,298
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 611,163 370,811
Accruals and deferred income 55,526 18,900
666,689 389,711
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 212,348 212,348
Page 5