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Registered number: 06764214
Bull - It Print Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06764214
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 184,405 186,559
184,405 186,559
CURRENT ASSETS
Debtors 5 404,235 309,761
Cash at bank and in hand 118,320 60,062
522,555 369,823
Creditors: Amounts Falling Due Within One Year 6 (194,900 ) (112,881 )
NET CURRENT ASSETS (LIABILITIES) 327,655 256,942
TOTAL ASSETS LESS CURRENT LIABILITIES 512,060 443,501
Creditors: Amounts Falling Due After More Than One Year 7 (72,259 ) (100,651 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,255 ) (18,291 )
NET ASSETS 407,546 324,559
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 407,544 324,557
SHAREHOLDERS' FUNDS 407,546 324,559
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Page 2
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 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
Mrs L K Emery
Director
Mr M I Whitford-Bull
Director
7 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bull - It Print Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06764214 . The registered office is Unit 5 Hemlock Park, Hyssop Close, Cannock, Staffordshire, WS11 7FB.
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.

2.3. 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:
Leasehold 15% reducing balance
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
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 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.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 14)
14 14
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 January 2023 13,466 337,973 351,439
Additions - 31,235 31,235
As at 31 December 2023 13,466 369,208 382,674
Depreciation
As at 1 January 2023 10,348 154,532 164,880
Provided during the period 468 32,921 33,389
As at 31 December 2023 10,816 187,453 198,269
Net Book Value
As at 31 December 2023 2,650 181,755 184,405
As at 1 January 2023 3,118 183,441 186,559
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 150,159 108,886
Other debtors 254,076 200,875
404,235 309,761
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 36,561 30,577
Trade creditors 32,366 22,251
Bank loans and overdrafts 9,756 9,640
Other creditors 9,506 12,336
Taxation and social security 106,711 38,077
194,900 112,881
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 52,412 71,251
Bank loans 19,847 29,400
72,259 100,651
8. Secured Creditors
Of the creditors the following amounts are secured on the asset to which they relate.
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 88,973 101,828
9. Share Capital
Allotted, called up and fully paid shares consist of 180 * 1p Ordinary Shares and 20 * 1p B Ordinary shares.
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mrs Lorraine Emery (5,716 ) 5,899 - - 183
Mr Martin Whitford-Bull 150,656 37,769 - - 188,425
The above loans are unsecured, interest free and repayable on demand.
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