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Registered number: 06525303
Boomerang Family Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Jupp Castle Limited
ACCA
5 Taplins Court
Taplins Farm Lane
Hartley Wintney
RG27 8XU
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06525303
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 394 137
394 137
CURRENT ASSETS
Debtors 6 66,550 57,612
Cash at bank and in hand 111,503 79,056
178,053 136,668
Creditors: Amounts Falling Due Within One Year 7 (443,452 ) (389,829 )
NET CURRENT ASSETS (LIABILITIES) (265,399 ) (253,161 )
TOTAL ASSETS LESS CURRENT LIABILITIES (265,005 ) (253,024 )
NET LIABILITIES (265,005 ) (253,024 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (265,007 ) (253,026 )
SHAREHOLDERS' FUNDS (265,005) (253,024)
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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 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.
On behalf of the board
Mr Garfield Smith
Director
25 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
Boomerang Family Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06525303 . The registered office is The Manor House, Manor Park, Aldershot, GU12 4JU.
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
Rendering of services
Turnover from media sales 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 not more than 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Trademarks are amortised to profit and loss account over its estimated economic life of not more than 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:
Computer Equipment over 3 years straight line
2.6. Financial Instruments
Financial instruments are recognised on transaction cost and reviewed for impairment as necessary.
2.7. 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. 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.
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.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 3)
7 3
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4. Intangible Assets
Goodwill Trademarks Total
£ £ £
Cost
As at 1 January 2023 15,000 45,000 60,000
As at 31 December 2023 15,000 45,000 60,000
Amortisation
As at 1 January 2023 15,000 45,000 60,000
As at 31 December 2023 15,000 45,000 60,000
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - - -
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2023 42,462
Additions 426
As at 31 December 2023 42,888
Depreciation
As at 1 January 2023 42,325
Provided during the period 169
As at 31 December 2023 42,494
Net Book Value
As at 31 December 2023 394
As at 1 January 2023 137
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 18,719 11,728
Other debtors 47,831 45,884
66,550 57,612
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 28
Amounts owed to group undertakings 428,658 376,306
Other creditors 13,991 13,392
Taxation and social security 802 103
443,452 389,829
8. Deferred Taxation
The provision for deferred tax is made up as follows:
Taxable losses remaining at the end of the period: £252,445 ( 2022 :£237,357)
Deferred tax asset calculated on taxable losses at prevailing rate of tax (25%): £63,111 (2022: 19% £45,098)
Any movement in the deferred tax balance is due to additional taxable losses or the utilisation of taxable losses brought forward from previous periods.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Going Concern
The financial statements have been prepared on the going concern basis which assumes that the company will be able to continue trading for the foreseenable future.

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