Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 01923979 Mr Alan Boswell Mr Alastair Drew Mr Christopher Gibbs Mr Stuart Burgess true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01923979 2023-03-31 01923979 2024-03-31 01923979 2023-04-01 2024-03-31 01923979 frs-core:CurrentFinancialInstruments 2024-03-31 01923979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 01923979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01923979 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 01923979 frs-core:MotorVehicles 2024-03-31 01923979 frs-core:MotorVehicles 2023-04-01 2024-03-31 01923979 frs-core:MotorVehicles 2023-03-31 01923979 frs-core:PlantMachinery 2024-03-31 01923979 frs-core:PlantMachinery 2023-04-01 2024-03-31 01923979 frs-core:PlantMachinery 2023-03-31 01923979 frs-core:WithinOneYear 2024-03-31 01923979 frs-core:ShareCapital 2024-03-31 01923979 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01923979 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01923979 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01923979 frs-bus:SmallEntities 2023-04-01 2024-03-31 01923979 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01923979 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01923979 1 2023-04-01 2024-03-31 01923979 frs-bus:Director1 2023-04-01 2024-03-31 01923979 frs-bus:Director2 2023-04-01 2024-03-31 01923979 frs-bus:Director3 2023-04-01 2024-03-31 01923979 frs-bus:Director4 2023-04-01 2024-03-31 01923979 frs-bus:Director4 2023-03-31 01923979 frs-bus:Director4 2024-03-31 01923979 frs-core:CurrentFinancialInstruments 1 2024-03-31 01923979 frs-countries:EnglandWales 2023-04-01 2024-03-31 01923979 2022-03-31 01923979 2023-03-31 01923979 2022-04-01 2023-03-31 01923979 frs-core:CurrentFinancialInstruments 2023-03-31 01923979 frs-core:BetweenOneFiveYears 2023-03-31 01923979 frs-core:WithinOneYear 2023-03-31 01923979 frs-core:ShareCapital 2023-03-31 01923979 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 01923979 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 01923979
Insurance Service Centre Limited(The)
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01923979
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 93,912 99,605
93,912 99,605
CURRENT ASSETS
Debtors 5 154,201 141,511
Investments 6 150,212 150,212
Cash at bank and in hand 150,542 176,293
454,955 468,016
Creditors: Amounts Falling Due Within One Year 7 (246,010 ) (293,983 )
NET CURRENT ASSETS (LIABILITIES) 208,945 174,033
TOTAL ASSETS LESS CURRENT LIABILITIES 302,857 273,638
NET ASSETS 302,857 273,638
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 302,757 273,538
SHAREHOLDERS' FUNDS 302,857 273,638
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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 Alan Boswell
Director
05/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Insurance Service Centre Limited(The) Registered number 01923979 is a limited by shares company, incorporated in England & Wales. The Registered Office is Prospect House, Rouen Road, Norwich, Norfolk, NR1 1RE.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 1% Straight Line
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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. 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.
...CONTINUED
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2.5. Taxation - continued
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.
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: 12 (2023: 12)
12 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 134,505 104,211 54,430 293,146
Disposals - - (42,980 ) (42,980 )
As at 31 March 2024 134,505 104,211 11,450 250,166
Depreciation
As at 1 April 2023 52,561 95,969 45,011 193,541
Provided during the period 1,345 1,235 2,355 4,935
Disposals - - (42,222 ) (42,222 )
As at 31 March 2024 53,906 97,204 5,144 156,254
Net Book Value
As at 31 March 2024 80,599 7,007 6,306 93,912
As at 1 April 2023 81,944 8,242 9,419 99,605
Cost or valuation as at 31 March 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
At cost 134,505 104,211 11,450 250,166
134,505 104,211 11,450 250,166
The Company holds the equitable interest in the Offices situated at 8-10 Cromer Road, being held in the name of Mr Stuart Burgess as a Trustee.
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 136,175 140,271
Prepayments and accrued income 1,642 1,240
Directors' loan accounts 16,384 -
154,201 141,511
6. Current Asset Investments
2024 2023
£ £
Unlisted investments 150,212 150,212
There has been a known reduction in the value of this Unlisted Current Asset Investment, following recent changes to building regulations this year. This Asset is expected to be sold within the forseable future and the Loss will be recognised at the point of sale. The Valuation is currently £120,000. The Company holds the equitable interest of this asset, being held in the name of Mr Stuart Burgess as a Trustee.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,606
Trade creditors 219,410 242,446
Corporation tax 8,555 13,873
Other taxes and social security 4,357 3,550
Other creditors - 8,091
Creative Pension Creditor 349 -
Accruals and deferred income 13,339 5,130
Directors' loan accounts - 18,287
246,010 293,983
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,954
Later than one year and not later than five years - -
- 2,954
Less: Finance charges allocated to future periods - 348
- 2,606
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Stuart Burgess - 16,384 - - 16,384
The above loan is unsecured, and will be repaid within 9 months from the Balance Sheet Date.
11. Ultimate Controlling Party
The company's ultimate controlling party as at the Balance Sheet Date is Mr Stuart Burgess, by virtue of his ownership of 90% of the issued share capital in the company. 
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