Acorah Software Products - Accounts Production 14.6.300 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 07454918 Mr P G Cross Mrs A L Cross iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07454918 2022-11-30 07454918 2023-11-30 07454918 2022-12-01 2023-11-30 07454918 frs-core:CurrentFinancialInstruments 2023-11-30 07454918 frs-core:Non-currentFinancialInstruments 2023-11-30 07454918 frs-core:NetGoodwill 2023-11-30 07454918 frs-core:NetGoodwill 2022-12-01 2023-11-30 07454918 frs-core:NetGoodwill 2022-11-30 07454918 frs-core:MotorVehicles 2023-11-30 07454918 frs-core:MotorVehicles 2022-12-01 2023-11-30 07454918 frs-core:MotorVehicles 2022-11-30 07454918 frs-core:PlantMachinery 2023-11-30 07454918 frs-core:PlantMachinery 2022-12-01 2023-11-30 07454918 frs-core:PlantMachinery 2022-11-30 07454918 frs-core:ShareCapital 2023-11-30 07454918 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 07454918 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07454918 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 07454918 frs-bus:SmallEntities 2022-12-01 2023-11-30 07454918 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07454918 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07454918 frs-bus:Director1 2022-12-01 2023-11-30 07454918 frs-bus:Director2 2022-12-01 2023-11-30 07454918 frs-countries:EnglandWales 2022-12-01 2023-11-30 07454918 2021-11-30 07454918 2022-11-30 07454918 2021-12-01 2022-11-30 07454918 frs-core:CurrentFinancialInstruments 2022-11-30 07454918 frs-core:Non-currentFinancialInstruments 2022-11-30 07454918 frs-core:ShareCapital 2022-11-30 07454918 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 07454918
Paul Cross Travel Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07454918
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 6,300 7,200
Tangible Assets 4 11,060 14,622
17,360 21,822
CURRENT ASSETS
Debtors 5 14,111 15,959
Cash at bank and in hand 25,736 26,822
39,847 42,781
Creditors: Amounts Falling Due Within One Year 6 (32,310 ) (35,878 )
NET CURRENT ASSETS (LIABILITIES) 7,537 6,903
TOTAL ASSETS LESS CURRENT LIABILITIES 24,897 28,725
Creditors: Amounts Falling Due After More Than One Year 7 (7,667 ) (11,667 )
NET ASSETS 17,230 17,058
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 17,229 17,057
SHAREHOLDERS' FUNDS 17,230 17,058
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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 Profit and Loss Account.
On behalf of the board
Mr P G Cross
Director
18 August 2024
The notes on pages 3 to 6 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. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
1.3. 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.
1.4. 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 20 years.
1.5. 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% on reducing balance
Motor Vehicles 25% on reducing balance
1.6. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
...CONTINUED
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1.6. Financial Instruments - continued
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7. 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.
1.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2022: 5)
3 5
3. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 18,000
As at 30 November 2023 18,000
Amortisation
As at 1 December 2022 10,800
Provided during the period 900
As at 30 November 2023 11,700
Net Book Value
As at 30 November 2023 6,300
As at 1 December 2022 7,200
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 943 30,652 31,595
Additions 125 - 125
As at 30 November 2023 1,068 30,652 31,720
Depreciation
As at 1 December 2022 834 16,139 16,973
Provided during the period 59 3,628 3,687
As at 30 November 2023 893 19,767 20,660
Net Book Value
As at 30 November 2023 175 10,885 11,060
As at 1 December 2022 109 14,513 14,622
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,589 9,761
Other debtors 6,522 6,198
14,111 15,959
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 1,275
Trade creditors 97 296
Bank loans and overdrafts 4,000 4,000
Other creditors 24,365 23,052
Taxation and social security 3,848 7,255
32,310 35,878
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 7,667 11,667
7,667 11,667
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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9. General Information
Paul Cross Travel Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07454918 . The registered office is Unit 3, North Lynn Business Village Bergen Way, North Lynn Industrial Estate, King's Lynn, PE30 2JG.  The presentation currency of the financial statements is the Pound Sterling (£).
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