Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 07141710 Mr Matthew Barry Mrs Sarah Barry iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07141710 2023-02-28 07141710 2024-02-29 07141710 2023-03-01 2024-02-29 07141710 frs-core:CurrentFinancialInstruments 2024-02-29 07141710 frs-core:ComputerEquipment 2024-02-29 07141710 frs-core:ComputerEquipment 2023-03-01 2024-02-29 07141710 frs-core:ComputerEquipment 2023-02-28 07141710 frs-core:FurnitureFittings 2024-02-29 07141710 frs-core:FurnitureFittings 2023-03-01 2024-02-29 07141710 frs-core:FurnitureFittings 2023-02-28 07141710 frs-core:SharePremium 2024-02-29 07141710 frs-core:ShareCapital 2024-02-29 07141710 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 07141710 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07141710 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 07141710 frs-bus:SmallEntities 2023-03-01 2024-02-29 07141710 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07141710 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07141710 frs-bus:Director1 2023-03-01 2024-02-29 07141710 frs-bus:Director2 2023-03-01 2024-02-29 07141710 frs-countries:EnglandWales 2023-03-01 2024-02-29 07141710 2022-02-28 07141710 2023-02-28 07141710 2022-03-01 2023-02-28 07141710 frs-core:CurrentFinancialInstruments 2023-02-28 07141710 frs-core:SharePremium 2023-02-28 07141710 frs-core:ShareCapital 2023-02-28 07141710 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 07141710
Blue Serif Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Booth & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07141710
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,738 8,956
7,738 8,956
CURRENT ASSETS
Debtors 5 100,682 107,838
Cash at bank and in hand 149,435 169,797
250,117 277,635
Creditors: Amounts Falling Due Within One Year 6 (74,808 ) (87,640 )
NET CURRENT ASSETS (LIABILITIES) 175,309 189,995
TOTAL ASSETS LESS CURRENT LIABILITIES 183,047 198,951
NET ASSETS 183,047 198,951
CAPITAL AND RESERVES
Called up share capital 7 205 205
Share premium account 840 840
Profit and Loss Account 182,002 197,906
SHAREHOLDERS' FUNDS 183,047 198,951
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Page 2
For the year ending 29 February 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 Matthew Barry
Director
09/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Blue Serif Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07141710 . The registered office is Regency House, 38 Ingrave Road, Brentwood, Essex, CM14 9PJ.
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 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:
Fixtures & Fittings 4 Years Straight Line
Computer Equipment 4 Years Straight Line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 8 10
8 10
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 18,211 40,440 58,651
Additions - 4,837 4,837
As at 29 February 2024 18,211 45,277 63,488
Depreciation
As at 1 March 2023 17,922 31,773 49,695
Provided during the period 288 5,767 6,055
As at 29 February 2024 18,210 37,540 55,750
Net Book Value
As at 29 February 2024 1 7,737 7,738
As at 1 March 2023 289 8,667 8,956
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100,682 107,838
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Bank loans and overdrafts (326 ) 3,597
Corporation tax 21,361 27,655
Other taxes and social security 499 4,687
VAT 46,964 45,706
Accruals and deferred income 6,200 4,000
Directors' loan accounts 110 1,994
74,808 87,640
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 205 205
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