Acorah Software Products - Accounts Production 15.0.500 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11062632 Mrs K Williams Mr P Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11062632 2022-12-31 11062632 2023-12-31 11062632 2023-01-01 2023-12-31 11062632 frs-core:CurrentFinancialInstruments 2023-12-31 11062632 frs-core:Non-currentFinancialInstruments 2023-12-31 11062632 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11062632 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11062632 frs-core:PlantMachinery 2023-12-31 11062632 frs-core:PlantMachinery 2023-01-01 2023-12-31 11062632 frs-core:PlantMachinery 2022-12-31 11062632 frs-core:ShareCapital 2023-12-31 11062632 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11062632 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11062632 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11062632 frs-bus:SmallEntities 2023-01-01 2023-12-31 11062632 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11062632 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11062632 frs-bus:Director1 2023-01-01 2023-12-31 11062632 frs-bus:Director2 2023-01-01 2023-12-31 11062632 frs-countries:EnglandWales 2023-01-01 2023-12-31 11062632 2021-12-31 11062632 2022-12-31 11062632 2022-01-01 2022-12-31 11062632 frs-core:CurrentFinancialInstruments 2022-12-31 11062632 frs-core:Non-currentFinancialInstruments 2022-12-31 11062632 frs-core:ShareCapital 2022-12-31 11062632 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11062632
Librotas Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11062632
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 637 873
637 873
CURRENT ASSETS
Debtors 5 344 2,119
Cash at bank and in hand 5,593 31,046
5,937 33,165
Creditors: Amounts Falling Due Within One Year 6 (32,196 ) (34,680 )
NET CURRENT ASSETS (LIABILITIES) (26,259 ) (1,515 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,622 ) (642 )
Creditors: Amounts Falling Due After More Than One Year 7 (1,424 ) (2,687 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (74 )
NET LIABILITIES (27,046 ) (3,403 )
CAPITAL AND RESERVES
Called up share capital 8 110 110
Profit and Loss Account (27,156 ) (3,513 )
SHAREHOLDERS' FUNDS (27,046) (3,403)
Page 1
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 K Williams
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Librotas Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11062632 . The registered office is C/O Smooth Accounting Limited, Building 1000 Lakeside North Harbour, Western Road, Portsmouth, PO6 3EN.
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 directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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.

Commission

Turnover from commission is recognised under the accruals basis of accounting, when the business has completed the action that has derived the commission.

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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.5. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
...CONTINUED
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2.5. Financial Instruments - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.6. 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.
2.7. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

2.8. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 1,181
As at 31 December 2023 1,181
Depreciation
As at 1 January 2023 308
Provided during the period 236
As at 31 December 2023 544
...CONTINUED
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Net Book Value
As at 31 December 2023 637
As at 1 January 2023 873
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 344 2,119
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 322 29
Bank loans and overdrafts 1,076 1,029
Other creditors 30,119 29,255
Taxation and social security 679 4,367
32,196 34,680
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,424 2,687
During a previous financial period the company was granted a bounce back loan, which will be repaid in line with the accepted government terms. It is denominated in £ with a nominal interest rate of 2.5% and the final instalment is due in June 2026. The carrying amount at the year end is £2687.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 110 110
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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