Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 09410932 Mr Alistair Wilson Mrs Victoria Wilson Mr Daniel Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09410932 2023-01-31 09410932 2024-01-31 09410932 2023-02-01 2024-01-31 09410932 frs-core:CurrentFinancialInstruments 2024-01-31 09410932 frs-core:Non-currentFinancialInstruments 2024-01-31 09410932 frs-core:ComputerEquipment 2024-01-31 09410932 frs-core:ComputerEquipment 2023-02-01 2024-01-31 09410932 frs-core:ComputerEquipment 2023-01-31 09410932 frs-core:NetGoodwill 2024-01-31 09410932 frs-core:NetGoodwill 2023-02-01 2024-01-31 09410932 frs-core:NetGoodwill 2023-01-31 09410932 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 09410932 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 09410932 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-31 09410932 frs-core:OtherResidualIntangibleAssets 2024-01-31 09410932 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 09410932 frs-core:OtherResidualIntangibleAssets 2023-01-31 09410932 frs-core:PlantMachinery 2024-01-31 09410932 frs-core:PlantMachinery 2023-02-01 2024-01-31 09410932 frs-core:PlantMachinery 2023-01-31 09410932 frs-core:ShareCapital 2024-01-31 09410932 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 09410932 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09410932 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 09410932 frs-bus:SmallEntities 2023-02-01 2024-01-31 09410932 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09410932 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09410932 frs-core:CostValuation 2023-01-31 09410932 frs-core:CostValuation 2024-01-31 09410932 frs-core:ProvisionsForImpairmentInvestments 2023-01-31 09410932 frs-core:ProvisionsForImpairmentInvestments 2024-01-31 09410932 frs-bus:Director1 2023-02-01 2024-01-31 09410932 frs-bus:Director2 2023-02-01 2024-01-31 09410932 frs-bus:Director3 2023-02-01 2024-01-31 09410932 frs-countries:EnglandWales 2023-02-01 2024-01-31 09410932 2022-01-31 09410932 2023-01-31 09410932 2022-02-01 2023-01-31 09410932 frs-core:CurrentFinancialInstruments 2023-01-31 09410932 frs-core:Non-currentFinancialInstruments 2023-01-31 09410932 frs-core:ShareCapital 2023-01-31 09410932 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 09410932
Compound Digital Technologies Limited
Financial Statements
For The Year Ended 31 January 2024
Clear Path Accountancy
Dormer House
44 Town Green Street
Rothley
Leicestershire
LE7 7NU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09410932
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 48,201 5,145
Tangible Assets 5 19,130 16,674
Investments 6 2,449 2,449
69,780 24,268
CURRENT ASSETS
Debtors 7 11,651 28,310
Cash at bank and in hand 38,934 5,959
50,585 34,269
Creditors: Amounts Falling Due Within One Year 8 (49,744 ) (33,630 )
NET CURRENT ASSETS (LIABILITIES) 841 639
TOTAL ASSETS LESS CURRENT LIABILITIES 70,621 24,907
Creditors: Amounts Falling Due After More Than One Year 9 (17,419 ) -
NET ASSETS 53,202 24,907
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 53,102 24,807
SHAREHOLDERS' FUNDS 53,202 24,907
Page 1
Page 2
For the year ending 31 January 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 Alistair Wilson
Director
30 July 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
Compound Digital Technologies Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09410932 . The registered office is Dormer House, 44 Town Green Street, Rothley, Leicestershire, LE7 7NU.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
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:
Leasehold 5% reducing balance
Plant & Machinery 15% reducing balance
Computer Equipment 15% reducing balance
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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:  5 (2023: 3)
5 3
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 February 2023 - 5,145 5,145
Additions 50,000 - 50,000
As at 31 January 2024 50,000 5,145 55,145
Amortisation
As at 1 February 2023 - - -
Provided during the period 6,944 - 6,944
As at 31 January 2024 6,944 - 6,944
Net Book Value
As at 31 January 2024 43,056 5,145 48,201
As at 1 February 2023 - 5,145 5,145
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 9,214 - 17,673 26,887
Additions - 1,664 4,742 6,406
Disposals - - (9,353 ) (9,353 )
As at 31 January 2024 9,214 1,664 13,062 23,940
Depreciation
As at 1 February 2023 1,082 - 9,131 10,213
Provided during the period 406 127 1,389 1,922
Disposals - - (7,325 ) (7,325 )
As at 31 January 2024 1,488 127 3,195 4,810
Net Book Value
As at 31 January 2024 7,726 1,537 9,867 19,130
As at 1 February 2023 8,132 - 8,542 16,674
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Page 5
6. Investments
Other
£
Cost
As at 1 February 2023 2,449
As at 31 January 2024 2,449
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 2,449
As at 1 February 2023 2,449
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,651 28,310
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 21,291 -
Corporation tax 12,474 4,078
Other taxes and social security 522 461
VAT 10,530 4,979
Other creditors - 630
Directors' loan accounts 4,927 23,482
49,744 33,630
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 17,419 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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