Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08823868 Mr Andrew Armstrong Mrs Claire Saberton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08823868 2022-12-31 08823868 2023-12-31 08823868 2023-01-01 2023-12-31 08823868 frs-core:CurrentFinancialInstruments 2023-12-31 08823868 frs-core:ComputerEquipment 2023-12-31 08823868 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08823868 frs-core:ComputerEquipment 2022-12-31 08823868 frs-core:PlantMachinery 2023-12-31 08823868 frs-core:PlantMachinery 2023-01-01 2023-12-31 08823868 frs-core:PlantMachinery 2022-12-31 08823868 frs-core:ShareCapital 2023-12-31 08823868 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08823868 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08823868 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08823868 frs-bus:SmallEntities 2023-01-01 2023-12-31 08823868 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08823868 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08823868 frs-bus:Director1 2023-01-01 2023-12-31 08823868 frs-bus:Director2 2023-01-01 2023-12-31 08823868 frs-countries:EnglandWales 2023-01-01 2023-12-31 08823868 2021-12-31 08823868 2022-12-31 08823868 2022-01-01 2022-12-31 08823868 frs-core:CurrentFinancialInstruments 2022-12-31 08823868 frs-core:ShareCapital 2022-12-31 08823868 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08823868
Discovering Magazines Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
St James Accounting
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08823868
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,110 412
1,110 412
CURRENT ASSETS
Debtors 4 37,287 55,481
Cash at bank and in hand 46,389 38,284
83,676 93,765
Creditors: Amounts Falling Due Within One Year 5 (55,579 ) (66,557 )
NET CURRENT ASSETS (LIABILITIES) 28,097 27,208
TOTAL ASSETS LESS CURRENT LIABILITIES 29,207 27,620
PROVISIONS FOR LIABILITIES
Deferred Taxation (211 ) (79 )
NET ASSETS 28,996 27,541
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 28,896 27,441
SHAREHOLDERS' FUNDS 28,996 27,541
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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 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 Andrew Armstrong
Director
31/07/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.

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.
1.3. 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:
Plant & Machinery 25% RB
Computer Equipment 25% RB
1.4. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 42 (2022: 42)
42 42
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3. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 - 550 550
Additions 1,115 - 1,115
As at 31 December 2023 1,115 550 1,665
Depreciation
As at 1 January 2023 - 138 138
Provided during the period 279 138 417
As at 31 December 2023 279 276 555
Net Book Value
As at 31 December 2023 836 274 1,110
As at 1 January 2023 - 412 412
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 36,689 47,954
Amounts owed by other participating interests 598 7,527
37,287 55,481
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 23,397 16,794
Corporation tax 5,488 7
VAT 19,743 28,768
Credit card 5,012 19,318
Accruals and deferred income 1,331 1,210
Directors' loan accounts 608 460
55,579 66,557
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
7. General Information
Discovering Magazines Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08823868 . The registered office is 160, 160 Eastgate, Deeping St. James, Deeping St James, Lincolnshire, PE6 8RD.
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