Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 09203359 Mr Martin Johnson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09203359 2023-05-31 09203359 2024-05-31 09203359 2023-06-01 2024-05-31 09203359 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09203359 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-01 2024-05-31 09203359 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09203359 frs-core:ShareCapital 2024-05-31 09203359 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09203359 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09203359 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 09203359 frs-bus:SmallEntities 2023-06-01 2024-05-31 09203359 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09203359 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09203359 frs-bus:Director1 2023-06-01 2024-05-31 09203359 frs-countries:EnglandWales 2023-06-01 2024-05-31 09203359 2022-05-31 09203359 2023-05-31 09203359 2022-06-01 2023-05-31 09203359 frs-core:ShareCapital 2023-05-31 09203359 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09203359
Trans 2 Performance Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 09203359
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 201,534 163,801
Tangible Assets 5 21,027 31,323
222,561 195,124
CURRENT ASSETS
Debtors 118,543 133,807
Cash at bank and in hand 870,931 782,880
989,474 916,687
Creditors: Amounts Falling Due Within One Year (353,703 ) (442,311 )
NET CURRENT ASSETS (LIABILITIES) 635,771 474,376
TOTAL ASSETS LESS CURRENT LIABILITIES 858,332 669,500
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,258 ) (5,914 )
NET ASSETS 853,074 663,586
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 853,064 663,576
SHAREHOLDERS' FUNDS 853,074 663,586
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Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Martin Johnson
Director
23/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Trans 2 Performance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09203359 . The registered office is Vittoria House , 48 Queen Street , Hull, HU1 1UU.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisiation and any accumulated impairment losses.
Development costs are being amortised evenly over their estimated useful life of nil 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:
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on straight line
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.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 11)
14 11
4. Intangible Assets
Total
£
Cost
As at 1 June 2023 163,801
Additions 41,514
Disposals (3,781 )
As at 31 May 2024 201,534
Net Book Value
As at 31 May 2024 201,534
As at 1 June 2023 163,801
5. Tangible Assets
Total
£
Cost
As at 1 June 2023 67,165
Additions 4,968
Disposals (142 )
As at 31 May 2024 71,991
Depreciation
As at 1 June 2023 35,842
Provided during the period 15,192
Disposals (70 )
As at 31 May 2024 50,964
Net Book Value
As at 31 May 2024 21,027
As at 1 June 2023 31,323
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
7. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,059 (2023 - £2,379) were due to the fund. They are included in Other Creditors.
Page 4