Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05259985 Mr Robert Cutting Mrs Helen Kebby Mr Neil Parker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05259985 2023-03-31 05259985 2024-03-31 05259985 2023-04-01 2024-03-31 05259985 frs-core:CurrentFinancialInstruments 2024-03-31 05259985 frs-core:Non-currentFinancialInstruments 2024-03-31 05259985 frs-core:ComputerEquipment 2024-03-31 05259985 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05259985 frs-core:ComputerEquipment 2023-03-31 05259985 frs-core:FurnitureFittings 2024-03-31 05259985 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05259985 frs-core:FurnitureFittings 2023-03-31 05259985 frs-core:NetGoodwill 2024-03-31 05259985 frs-core:NetGoodwill 2023-04-01 2024-03-31 05259985 frs-core:NetGoodwill 2023-03-31 05259985 frs-core:MotorVehicles 2024-03-31 05259985 frs-core:MotorVehicles 2023-04-01 2024-03-31 05259985 frs-core:MotorVehicles 2023-03-31 05259985 frs-core:ShareCapital 2024-03-31 05259985 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05259985 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05259985 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05259985 frs-bus:SmallEntities 2023-04-01 2024-03-31 05259985 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05259985 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05259985 frs-bus:Director1 2023-04-01 2024-03-31 05259985 frs-bus:Director2 2023-04-01 2024-03-31 05259985 frs-bus:Director3 2023-04-01 2024-03-31 05259985 frs-countries:EnglandWales 2023-04-01 2024-03-31 05259985 2022-03-31 05259985 2023-03-31 05259985 2022-04-01 2023-03-31 05259985 frs-core:CurrentFinancialInstruments 2023-03-31 05259985 frs-core:Non-currentFinancialInstruments 2023-03-31 05259985 frs-core:ShareCapital 2023-03-31 05259985 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05259985
Frost & Partners (Hadleigh) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05259985
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,833 2,277
1,833 2,277
CURRENT ASSETS
Debtors 6 209,753 160,508
Cash at bank and in hand 30,504 79,970
240,257 240,478
Creditors: Amounts Falling Due Within One Year 7 (34,250 ) (35,820 )
NET CURRENT ASSETS (LIABILITIES) 206,007 204,658
TOTAL ASSETS LESS CURRENT LIABILITIES 207,840 206,935
Creditors: Amounts Falling Due After More Than One Year 8 (13,335 ) (23,337 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (249 ) (313 )
NET ASSETS 194,256 183,285
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 194,156 183,185
SHAREHOLDERS' FUNDS 194,256 183,285
Page 1
Page 2
For the year ending 31 March 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
Mrs Helen Kebby
Director
Mr Neil Parker
Director
9th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Frost & Partners (Hadleigh) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05259985 . The registered office is 62 High Street, Hadleigh, Ipswich, IP7 5EF.
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 represents the fair value of services provided during the period on client assignments. Turnover is recognised as contract activity progresses and the right to consideration is earned. Turnover excludes value added tax. Unbilled turnover on individual client assignments is included as accrued income within debtors. Where individual on account billings exceed revenue recognised on client assignments, the excess is classified as deferred income within creditors.
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:
Motor Vehicles 25% RB
Fixtures & Fittings 15% RB
Computer Equipment 20% SL
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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 880,000
As at 31 March 2024 880,000
Amortisation
As at 1 April 2023 880,000
As at 31 March 2024 880,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 3,000 7,846 20,893 31,739
As at 31 March 2024 3,000 7,846 20,893 31,739
Depreciation
As at 1 April 2023 2,873 6,184 20,405 29,462
Provided during the period 32 249 163 444
As at 31 March 2024 2,905 6,433 20,568 29,906
Net Book Value
As at 31 March 2024 95 1,413 325 1,833
As at 1 April 2023 127 1,662 488 2,277
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,220 10,275
Amounts owed by participating interests 200,533 150,233
209,753 160,508
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 514 1,804
Bank loans and overdrafts 10,000 10,000
Other creditors 7,449 6,091
Taxation and social security 16,287 17,925
34,250 35,820
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,335 23,337
13,335 23,337
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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