Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04490565 Mr Clifford Fitzpatrick Mr Nigel Downing Mr Brian Helweg-Larsen Mrs Elizabeth Helweg-Larsen Mr Richard Crawshay Mr Graham Hutchings Mrs Elizabeth Helweg-Larsen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04490565 2023-03-31 04490565 2024-03-31 04490565 2023-04-01 2024-03-31 04490565 frs-core:CurrentFinancialInstruments 2024-03-31 04490565 frs-core:Non-currentFinancialInstruments 2024-03-31 04490565 frs-core:ComputerEquipment 2024-03-31 04490565 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04490565 frs-core:ComputerEquipment 2023-03-31 04490565 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 04490565 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 04490565 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 04490565 frs-core:FurnitureFittings 2024-03-31 04490565 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04490565 frs-core:FurnitureFittings 2023-03-31 04490565 frs-core:NetGoodwill 2024-03-31 04490565 frs-core:NetGoodwill 2023-04-01 2024-03-31 04490565 frs-core:NetGoodwill 2023-03-31 04490565 frs-core:OtherReservesSubtotal 2024-03-31 04490565 frs-core:ShareCapital 2024-03-31 04490565 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04490565 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04490565 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04490565 frs-bus:SmallEntities 2023-04-01 2024-03-31 04490565 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04490565 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04490565 frs-core:UnlistedNon-exchangeTraded 2024-03-31 04490565 frs-core:UnlistedNon-exchangeTraded 2023-03-31 04490565 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 04490565 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 04490565 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 04490565 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 04490565 frs-bus:Director1 2023-04-01 2024-03-31 04490565 frs-bus:Director2 2023-04-01 2024-03-31 04490565 frs-bus:Director3 2023-04-01 2024-03-31 04490565 frs-bus:Director4 2023-04-01 2024-03-31 04490565 frs-bus:Director5 2023-04-01 2024-03-31 04490565 frs-bus:Director6 2023-04-01 2024-03-31 04490565 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04490565 frs-countries:EnglandWales 2023-04-01 2024-03-31 04490565 2022-03-31 04490565 2023-03-31 04490565 2022-04-01 2023-03-31 04490565 frs-core:CurrentFinancialInstruments 2023-03-31 04490565 frs-core:Non-currentFinancialInstruments 2023-03-31 04490565 frs-core:OtherReservesSubtotal 2023-03-31 04490565 frs-core:ShareCapital 2023-03-31 04490565 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04490565
Profitability Business Simulations Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Parry and Parry Limited
Chesterton House
Church Street
Cambridge
CB4 1DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04490565
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 361,653 406,520
Tangible Assets 5 11,136 41,989
Investments 6 648 648
373,437 449,157
CURRENT ASSETS
Stocks 7 1,649 -
Debtors 8 204,430 102,622
Cash at bank and in hand 170,036 77,369
376,115 179,991
Creditors: Amounts Falling Due Within One Year 9 (596,485 ) (481,520 )
NET CURRENT ASSETS (LIABILITIES) (220,370 ) (301,529 )
TOTAL ASSETS LESS CURRENT LIABILITIES 153,067 147,628
Creditors: Amounts Falling Due After More Than One Year 10 (125,206 ) (53,782 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,961 ) (39,605 )
NET (LIABILITIES)/ASSETS (25,100 ) 54,241
CAPITAL AND RESERVES
Called up share capital 11 2,000 2,000
Other reserves 92,967 39,543
Profit and Loss Account (120,067 ) 12,698
SHAREHOLDERS' FUNDS (25,100) 54,241
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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 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 Brian Helweg-Larsen
Director
05/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Profitability Business Simulations Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04490565 . The registered office is The Wooden Barn, Little Baldon, Oxford, Oxfordshire, OX44 9PU.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. This has been fully amortised at the balance sheet date.
2.4. Research and Development
Expenditure on research and development is written off in the year it is incurred, unless the outcome of this expenditure is intellectual property which the directors believe can be sold as products to current and future clients. Development IP is amortised over 5 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:
Fixtures & Fittings 3 years
Computer Equipment 3 years
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Intangible Assets
Goodwill Development Costs Total
£ £ £
Cost
As at 1 April 2023 700,000 612,887 1,312,887
Additions - 92,950 92,950
As at 31 March 2024 700,000 705,837 1,405,837
Amortisation
As at 1 April 2023 700,000 206,367 906,367
Provided during the period - 137,817 137,817
As at 31 March 2024 700,000 344,184 1,044,184
Net Book Value
As at 31 March 2024 - 361,653 361,653
As at 1 April 2023 - 406,520 406,520
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 326,196 2,854 329,050
Additions - 6,946 6,946
As at 31 March 2024 326,196 9,800 335,996
Depreciation
As at 1 April 2023 286,904 157 287,061
Provided during the period 35,866 1,933 37,799
As at 31 March 2024 322,770 2,090 324,860
Net Book Value
As at 31 March 2024 3,426 7,710 11,136
As at 1 April 2023 39,292 2,697 41,989
6. Investments
Unlisted
£
Cost
As at 1 April 2023 648
As at 31 March 2024 648
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 648
As at 1 April 2023 648
7. Stocks
2024 2023
£ £
Stock 1,649 -
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 186,542 77,055
Prepayments and accrued income 2,550 25,567
Other debtors 15,338 -
204,430 102,622
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 94,386 30,515
Bank loans and overdrafts 131,516 92,655
Corporation tax 38 12,343
Other taxes and social security 37,991 4,908
Other creditors 25,123 55,738
Accruals and deferred income 251,693 285,361
Directors' loan accounts 55,738 -
596,485 481,520
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 125,206 53,782
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
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