Acorah Software Products - Accounts Production 14.6.300 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 10785098 Mr David Cross iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10785098 2022-12-31 10785098 2023-12-31 10785098 2023-01-01 2023-12-31 10785098 frs-core:CurrentFinancialInstruments 2023-12-31 10785098 frs-core:Non-currentFinancialInstruments 2023-12-31 10785098 frs-core:ComputerEquipment 2023-12-31 10785098 frs-core:ComputerEquipment 2023-01-01 2023-12-31 10785098 frs-core:ComputerEquipment 2022-12-31 10785098 frs-core:PlantMachinery 2023-12-31 10785098 frs-core:PlantMachinery 2023-01-01 2023-12-31 10785098 frs-core:PlantMachinery 2022-12-31 10785098 frs-core:WithinOneYear 2023-12-31 10785098 frs-core:ShareCapital 2023-12-31 10785098 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10785098 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10785098 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10785098 frs-bus:SmallEntities 2023-01-01 2023-12-31 10785098 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10785098 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10785098 frs-bus:Director1 2023-01-01 2023-12-31 10785098 frs-countries:EnglandWales 2023-01-01 2023-12-31 10785098 2021-12-31 10785098 2022-12-31 10785098 2022-01-01 2022-12-31 10785098 frs-core:CurrentFinancialInstruments 2022-12-31 10785098 frs-core:Non-currentFinancialInstruments 2022-12-31 10785098 frs-core:BetweenOneFiveYears 2022-12-31 10785098 frs-core:WithinOneYear 2022-12-31 10785098 frs-core:ShareCapital 2022-12-31 10785098 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 10785098
Corrpad Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Marlow Proactive
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 10785098
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 193,717 218,510
193,717 218,510
CURRENT ASSETS
Stocks 5 31,034 60,206
Debtors 6 160,529 176,160
Cash at bank and in hand 1,582 206
193,145 236,572
Creditors: Amounts Falling Due Within One Year 7 (710,929 ) (750,452 )
NET CURRENT ASSETS (LIABILITIES) (517,784 ) (513,880 )
TOTAL ASSETS LESS CURRENT LIABILITIES (324,067 ) (295,370 )
Creditors: Amounts Falling Due After More Than One Year 8 - (35,000 )
NET LIABILITIES (324,067 ) (330,370 )
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account (325,067 ) (331,370 )
SHAREHOLDERS' FUNDS (324,067) (330,370)
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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 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 David Cross
Director
16/07/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Corrpad Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10785098 . The registered office is Holdford Road Witton, Birmingham, West Midlands, B6 7EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The company has net liabilities at the balance sheet date. The accounts are prepared on a going concern basis as the directors have confirmed that the company has the continued support of its creditors and related companies for a period of at least 12 months from the date of approval of the financial statements.
2.3. 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in repsect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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:
Plant & Machinery 10% straight line
Computer Equipment 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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2.5. Leasing and Hire Purchase Contracts
Leases are classifed as finance leases wherever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
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.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.7. Financial Instruments
The company has decided to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Finanacial assets and liabilites are offset, with the net amounts presented in the financial statement, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilites
Financial liabilites and equity instruments are classifed according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilites classifed as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

...CONTINUED
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2.7. Financial Instruments - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilites if payment is due withing one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.8. Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
2.9. Cash at Bank and In Hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities or three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilites.
2.10. Employee and Retirement Benefits
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: 12)
12 12
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 446,930 3,000 449,930
As at 31 December 2023 446,930 3,000 449,930
Depreciation
As at 1 January 2023 228,420 3,000 231,420
Provided during the period 24,793 - 24,793
As at 31 December 2023 253,213 3,000 256,213
Net Book Value
As at 31 December 2023 193,717 - 193,717
As at 1 January 2023 218,510 - 218,510
5. Stocks
2023 2022
£ £
Finished goods 31,034 60,206
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 159,029 174,660
Other debtors 1,500 1,500
160,529 176,160
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 40,000
Trade creditors 88,194 111,814
Bank loans and overdrafts 92,917 117,917
Amounts owed to group undertakings (73,157 ) (16,857 )
Other creditors 143,926 159,650
Taxation and social security 459,049 337,928
710,929 750,452
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 35,000
- 35,000
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 40,000
Later than one year and not later than five years - 35,000
- 75,000
- 75,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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