Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07576734 Mr J Shomron Mrs R Shomron iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07576734 2023-03-31 07576734 2024-03-31 07576734 2023-04-01 2024-03-31 07576734 frs-core:CurrentFinancialInstruments 2024-03-31 07576734 frs-core:ComputerEquipment 2024-03-31 07576734 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07576734 frs-core:ComputerEquipment 2023-03-31 07576734 frs-core:RevaluationReserve 2023-03-31 07576734 frs-core:RevaluationReserve 2024-03-31 07576734 frs-core:ShareCapital 2024-03-31 07576734 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07576734 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07576734 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07576734 frs-bus:SmallEntities 2023-04-01 2024-03-31 07576734 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07576734 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07576734 frs-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07576734 frs-bus:Director1 2023-04-01 2024-03-31 07576734 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 07576734 frs-countries:EnglandWales 2023-04-01 2024-03-31 07576734 2022-03-31 07576734 2023-03-31 07576734 2022-04-01 2023-03-31 07576734 frs-core:CurrentFinancialInstruments 2023-03-31 07576734 frs-core:RevaluationReserve 2023-03-31 07576734 frs-core:ShareCapital 2023-03-31 07576734 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07576734 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-03-31
Registered number: 07576734
Shomron Associates Limited
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: 07576734
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,955 3,323
1,955 3,323
CURRENT ASSETS
Debtors 5 29,423 19,943
Investments 6 34,852 58,838
Cash at bank and in hand 13,932 19,370
78,207 98,151
Creditors: Amounts Falling Due Within One Year 7 (48,977 ) (57,075 )
NET CURRENT ASSETS (LIABILITIES) 29,230 41,076
TOTAL ASSETS LESS CURRENT LIABILITIES 31,185 44,399
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (370 ) (631 )
NET ASSETS 30,815 43,768
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 6,093 3,166
Profit and Loss Account 24,622 40,502
SHAREHOLDERS' FUNDS 30,815 43,768
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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 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 J Shomron
Director
8 August 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
Shomron Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07576734 . The registered office is Office 8c, Phoenix House, 100 Brierley Street, Bury, BL9 9HN.
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. Going Concern Disclosure
The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information in making their assessment. The director has reviewed a period of exceeding 12 months from the date of approval of these financial statements, the director has a reasonable expectation that it has adequate resources to continue operational existence and for this reason will continue to adopt the going concern basis in the preparation of its 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.
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.
2.4. 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 20% reducing balance
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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 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 as follows:
2024 2023
Office and administration 2 2
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 13,116
Disposals (6,124 )
As at 31 March 2024 6,992
...CONTINUED
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Depreciation
As at 1 April 2023 9,793
Provided during the period 489
Disposals (5,245 )
As at 31 March 2024 5,037
Net Book Value
As at 31 March 2024 1,955
As at 1 April 2023 3,323
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 27,770 18,795
Prepayments and accrued income 1,653 1,148
29,423 19,943
6. Current Asset Investments
2024 2023
£ £
Listed investments 34,852 58,838
Listed investments have been revalued to market value leading to a revaluation reserve.
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 5,109 3,645
Other taxes and social security 97 95
VAT 11,732 7,514
Accruals and deferred income 140 142
Director's loan account 31,899 45,679
48,977 57,075
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 370 631
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 3,166
Surplus on revaluation of investments 2,927
As at 31 March 2024 6,093
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