Acorah Software Products - Accounts Production 15.0.500 false true true false 25 November 2022 30 November 2023 30 November 2023 14506688 Mr Greg Hutcheson Dr Michael O'Gorman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14506688 2022-11-24 14506688 2023-11-30 14506688 2022-11-25 2023-11-30 14506688 frs-core:CurrentFinancialInstruments 2023-11-30 14506688 frs-core:ShareCapital 2023-11-30 14506688 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 14506688 frs-bus:PrivateLimitedCompanyLtd 2022-11-25 2023-11-30 14506688 frs-bus:FilletedAccounts 2022-11-25 2023-11-30 14506688 frs-bus:SmallEntities 2022-11-25 2023-11-30 14506688 frs-bus:AuditExempt-NoAccountantsReport 2022-11-25 2023-11-30 14506688 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-25 2023-11-30 14506688 frs-bus:Director1 2022-11-25 2023-11-30 14506688 frs-bus:Director2 2022-11-25 2023-11-30 14506688 frs-countries:EnglandWales 2022-11-25 2023-11-30
Registered number: 14506688
Dr Michael O'Gorman Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 14506688
2023
Notes £ £
CURRENT ASSETS
Stocks 1,000
Debtors 4 26,665
Cash at bank and in hand 59
27,724
Creditors: Amounts Falling Due Within One Year 5 (12,966 )
NET CURRENT ASSETS (LIABILITIES) 14,758
TOTAL ASSETS LESS CURRENT LIABILITIES 14,758
NET ASSETS 14,758
CAPITAL AND RESERVES
Called up share capital 6 200
Income Statement 14,558
SHAREHOLDERS' FUNDS 14,758
For the year ending 30 November 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 Income Statement.
On behalf of the board
Dr Michael O'Gorman
Director
14 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Dr Michael O'Gorman Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14506688 . The registered office is The Octagon, Wells Road, Ilkley, West Yorkshire, LS29 9JB.
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
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
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.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
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: 2
2
Page 2
Page 3
4. Debtors
2023
£
Due within one year
Trade debtors 17,000
Other debtors 9,665
26,665
5. Creditors: Amounts Falling Due Within One Year
2023
£
Trade creditors 1
Other creditors 130
Taxation and social security 12,835
12,966
6. Share Capital
2023
£
Allotted, Called up and fully paid 200
On the 25 November 2022 100 ordinary shares, 80 A ordinary shares and 20 B ordinary shares were issued at par and fromed the initial share capital of the business.
Page 3