Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 12366109 Mrs N Thorley Mr P Thorley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12366109 2022-12-31 12366109 2023-12-31 12366109 2023-01-01 2023-12-31 12366109 frs-core:CurrentFinancialInstruments 2023-12-31 12366109 frs-core:Non-currentFinancialInstruments 2023-12-31 12366109 frs-core:BetweenOneFiveYears 2023-12-31 12366109 frs-core:ComputerEquipment 2023-01-01 2023-12-31 12366109 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 12366109 frs-core:FurnitureFittings 2023-01-01 2023-12-31 12366109 frs-core:MoreThanFiveYears 2023-12-31 12366109 frs-core:OtherResidualIntangibleAssets 2023-12-31 12366109 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 12366109 frs-core:OtherResidualIntangibleAssets 2022-12-31 12366109 frs-core:PlantMachinery 2023-12-31 12366109 frs-core:PlantMachinery 2023-01-01 2023-12-31 12366109 frs-core:PlantMachinery 2022-12-31 12366109 frs-core:WithinOneYear 2023-12-31 12366109 frs-core:ShareCapital 2023-12-31 12366109 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 12366109 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12366109 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 12366109 frs-bus:SmallEntities 2023-01-01 2023-12-31 12366109 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12366109 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12366109 frs-bus:Director1 2023-01-01 2023-12-31 12366109 frs-bus:Director2 2023-01-01 2023-12-31 12366109 frs-countries:EnglandWales 2023-01-01 2023-12-31 12366109 2021-12-31 12366109 2022-12-31 12366109 2022-01-01 2022-12-31 12366109 frs-core:CurrentFinancialInstruments 2022-12-31 12366109 frs-core:Non-currentFinancialInstruments 2022-12-31 12366109 frs-core:BetweenOneFiveYears 2022-12-31 12366109 frs-core:MoreThanFiveYears 2022-12-31 12366109 frs-core:WithinOneYear 2022-12-31 12366109 frs-core:ShareCapital 2022-12-31 12366109 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 12366109
Wight Lease Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12366109
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 175 200
Tangible Assets 5 1,537 2,166
1,712 2,366
CURRENT ASSETS
Debtors 6 30,810 15,549
Cash at bank and in hand 22,740 19,300
53,550 34,849
Creditors: Amounts Falling Due Within One Year 7 (90,735 ) (60,688 )
NET CURRENT ASSETS (LIABILITIES) (37,185 ) (25,839 )
TOTAL ASSETS LESS CURRENT LIABILITIES (35,473 ) (23,473 )
Creditors: Amounts Falling Due After More Than One Year 8 (19,840 ) (25,930 )
NET LIABILITIES (55,313 ) (49,403 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (55,315 ) (49,405 )
SHAREHOLDERS' FUNDS (55,313) (49,403)
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For the year ending 31 December 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 Thorley
Director
19/08/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wight Lease Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12366109 . The registered office is Office 1, Building 41, Newport Road, Cowes, Isle of Wight, PO31 8BX.
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
The company has been materially and adversely affected by the effects of the Covid-19 pandemic. Demand for the company’s services has reduced due to local lockdown restriction. Operating results have also been adversely affected. However, the directors do believe that the company continues to be a going concern and will support the continuing trade of the business for the foreseeable future.
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 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are naming rights. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Fixtures & Fittings 33% Straight Line
Computer Equipment 33% Straight Line
2.6. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.7. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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2.8. 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.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Borrowings and Cash & Cash Equivalents
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Trade debtors and trade creditors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
2.12. Share Capital
Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.


3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 January 2023 250
As at 31 December 2023 250
Amortisation
As at 1 January 2023 50
Provided during the period 25
As at 31 December 2023 75
Net Book Value
As at 31 December 2023 175
As at 1 January 2023 200
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2023 5,325
Additions 1,257
As at 31 December 2023 6,582
Depreciation
As at 1 January 2023 3,159
Provided during the period 1,886
As at 31 December 2023 5,045
Net Book Value
As at 31 December 2023 1,537
As at 1 January 2023 2,166
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 18,573 13,618
Amounts owed by group undertakings 9,230 -
Other debtors 3,007 1,931
30,810 15,549
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 20,011 6,458
Bank loans and overdrafts 8,327 8,251
Amounts owed to group undertakings - 21,198
Other creditors 34,195 4,179
Taxation and social security 28,202 20,602
90,735 60,688
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 19,840 25,930
Bounce Back Loan is denominated in Sterling with a nominal interest rate of 2.5% and the final instalment is due on 03/09/2026. The carrying amount at the year end is £12,614 (2022- £14,182).
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 6,890 6,600
Later than one year and not later than five years 34,851 22,550
Later than five years 6,970 -
48,711 29,150
11. Related Party Transactions
Everything's Yummy Limited

Everything's Yummy Limited

Included within other debtors is £8,487 (2022-£21,198 owed by Wight Lease Limited) owed to Wight Lease Limited by Everything's Yummy Limited. Everything's Yummy Limited is a company under common control. 
Also included within other debtors is £743 (2022-£0) owed to Wight Lease Limited by Something Yummy Limited. Something Yummy Limited is a company under common control. 
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