Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04526847 Mr Martin Smith Mr Garfield Smith Mr Garfield Smith G R Smith The Manor House, Manor Park, Aldershot Gu12 4JU true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04526847 2022-12-31 04526847 2023-12-31 04526847 2023-01-01 2023-12-31 04526847 frs-core:CurrentFinancialInstruments 2023-12-31 04526847 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04526847 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04526847 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04526847 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04526847 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04526847 frs-core:NetGoodwill 2023-12-31 04526847 frs-core:NetGoodwill 2023-01-01 2023-12-31 04526847 frs-core:NetGoodwill 2022-12-31 04526847 frs-core:PlantMachinery 2023-12-31 04526847 frs-core:PlantMachinery 2023-01-01 2023-12-31 04526847 frs-core:PlantMachinery 2022-12-31 04526847 frs-core:ShareCapital 2023-12-31 04526847 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04526847 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04526847 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04526847 frs-bus:SmallEntities 2023-01-01 2023-12-31 04526847 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04526847 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04526847 1 2023-01-01 2023-12-31 04526847 frs-bus:Director1 2023-01-01 2023-12-31 04526847 frs-bus:Director2 2023-01-01 2023-12-31 04526847 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04526847 frs-countries:EnglandWales 2023-01-01 2023-12-31 04526847 2021-12-31 04526847 2022-12-31 04526847 2022-01-01 2022-12-31 04526847 frs-core:CurrentFinancialInstruments 2022-12-31 04526847 frs-core:ShareCapital 2022-12-31 04526847 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04526847
Boomerang Ed 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—6
Page 1
Balance Sheet
Registered number: 04526847
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 1,683
Tangible Assets 5 3,322 3,559
3,322 5,242
CURRENT ASSETS
Stocks 6 31,088 16,585
Debtors 7 464,975 485,401
Cash at bank and in hand 464,175 372,748
960,238 874,734
Creditors: Amounts Falling Due Within One Year 8 (656,635 ) (601,100 )
NET CURRENT ASSETS (LIABILITIES) 303,603 273,634
TOTAL ASSETS LESS CURRENT LIABILITIES 306,925 278,876
PROVISIONS FOR LIABILITIES
Deferred Taxation (582 ) (766 )
NET ASSETS 306,343 278,110
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 306,243 278,010
SHAREHOLDERS' FUNDS 306,343 278,110
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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 Garfield Smith
Director
25 July 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
Boomerang Ed Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04526847 . 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
Sale of goods
Turnover from the sale of the manufacture and provision of educational diaries and school merchandise 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.
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 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to profit and loss account over its estimated economic life of not more than 10 years.
2.5. Research and Development
Development costs relating to the digital planner are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the Profit and Loss account on a straight line basis over their expected useful economic lives, over 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. 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 20% and 33% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 33% straight line
Other assets are depreciated over 20% straight line
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. At each balance sheet date stocks are assessed for impairment and if any adjustments are necessary these are recognised immediately in the Statement of Income and Retained Earnings.
2.8. Financial Instruments
Financial instruments are measured at transaction price less any impairment.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.10. 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. 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.
2.11. 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: 7)
7 7
4. Intangible Assets
Goodwill Computer software Total
£ £ £
Cost
As at 1 January 2023 300,000 205,340 505,340
As at 31 December 2023 300,000 205,340 505,340
Amortisation
As at 1 January 2023 300,000 203,657 503,657
Impairment losses - 1,683 1,683
As at 31 December 2023 300,000 205,340 505,340
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - 1,683 1,683
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 101,356
Additions 694
As at 31 December 2023 102,050
Depreciation
As at 1 January 2023 97,797
Provided during the period 931
As at 31 December 2023 98,728
Net Book Value
As at 31 December 2023 3,322
As at 1 January 2023 3,559
6. Stocks
2023 2022
£ £
Finished goods 31,088 16,585
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 88,631 107,081
Prepayments and accrued income 7,191 8,259
Amounts owed by group undertakings 369,153 370,061
464,975 485,401
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 43,719 5,120
Corporation tax 9,368 17,228
Other taxes and social security 9,653 6,671
Other creditors - 40,020
Accruals and deferred income 19,817 21,123
Amounts owed to group undertakings 574,078 510,938
656,635 601,100
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Boomerang Media Group Limited . Boomerang Media Group Limited was incorporated in England and Wales. Copies of the group accounts may be obtained from the secretary, The Manor House, Manor Park, Aldershot Gu12 4JU . The ultimate controlling party is G R Smith who controls 65.2% of the shares of Boomerang Ed Limited .
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