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 04340670 Mr Nicholas Wright iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04340670 2022-12-31 04340670 2023-12-31 04340670 2023-01-01 2023-12-31 04340670 frs-core:CurrentFinancialInstruments 2023-12-31 04340670 frs-core:Non-currentFinancialInstruments 2023-12-31 04340670 frs-core:ComputerEquipment 2023-12-31 04340670 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04340670 frs-core:ComputerEquipment 2022-12-31 04340670 frs-core:FurnitureFittings 2023-12-31 04340670 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04340670 frs-core:FurnitureFittings 2022-12-31 04340670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04340670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04340670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04340670 frs-core:CapitalRedemptionReserve 2023-12-31 04340670 frs-core:ShareCapital 2023-12-31 04340670 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04340670 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04340670 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04340670 frs-bus:SmallEntities 2023-01-01 2023-12-31 04340670 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04340670 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04340670 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 04340670 frs-bus:OrdinaryShareClass2 2023-12-31 04340670 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 04340670 frs-bus:OrdinaryShareClass3 2023-12-31 04340670 frs-bus:Director1 2023-01-01 2023-12-31 04340670 frs-bus:Director1 2022-12-31 04340670 frs-bus:Director1 2023-12-31 04340670 frs-countries:EnglandWales 2023-01-01 2023-12-31 04340670 2021-12-31 04340670 2022-12-31 04340670 2022-01-01 2022-12-31 04340670 frs-core:CurrentFinancialInstruments 2022-12-31 04340670 frs-core:Non-currentFinancialInstruments 2022-12-31 04340670 frs-core:CapitalRedemptionReserve 2022-12-31 04340670 frs-core:ShareCapital 2022-12-31 04340670 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04340670 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 04340670 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31
Registered number: 04340670
Studio North Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04340670
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,986 30,641
29,986 30,641
CURRENT ASSETS
Debtors 5 176,076 124,987
Cash at bank and in hand 362,844 304,793
538,920 429,780
Creditors: Amounts Falling Due Within One Year 6 (138,323 ) (83,435 )
NET CURRENT ASSETS (LIABILITIES) 400,597 346,345
TOTAL ASSETS LESS CURRENT LIABILITIES 430,583 376,986
Creditors: Amounts Falling Due After More Than One Year 7 (24,890 ) (34,782 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,496 ) (5,822 )
NET ASSETS 398,197 336,382
CAPITAL AND RESERVES
Called up share capital 8 60 60
Capital redemption reserve 60 60
Profit and Loss Account 398,077 336,262
SHAREHOLDERS' FUNDS 398,197 336,382
Page 1
Page 2
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 Nicholas Wright
Director
30th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Studio North Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04340670 . The registered office is One Express, 1 George Leigh Street, Manchester, M4 5DL.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. 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:
Leasehold 10% - 50% - on cost
Fixtures & Fittings 25% - reducing balance
Computer Equipment 25% - on cost
2.4. 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.
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 year 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 asset reflects 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.
Page 3
Page 4
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 7)
9 7
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 24,009 42,494 68,354 134,857
Additions 1,840 - 10,045 11,885
Disposals - - (46,518 ) (46,518 )
As at 31 December 2023 25,849 42,494 31,881 100,224
Depreciation
As at 1 January 2023 12,154 34,426 57,636 104,216
Provided during the period 4,275 2,017 6,248 12,540
Disposals - - (46,518 ) (46,518 )
As at 31 December 2023 16,429 36,443 17,366 70,238
Net Book Value
As at 31 December 2023 9,420 6,051 14,515 29,986
As at 1 January 2023 11,855 8,068 10,718 30,641
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 173,052 110,433
Prepayments and accrued income 2,206 2,827
Director's loan account 818 11,727
176,076 124,987
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 29,459 21,713
Bank loans and overdrafts 4,995 5,052
Corporation tax 68,185 22,476
Other taxes and social security 9,337 727
VAT 24,742 32,505
Other creditors 1,390 962
Accruals and deferred income 215 -
138,323 83,435
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,890 34,782
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
30 Ordinary A shares of £ 1.000 each 30 30
30 Ordinary B shares of £ 1.000 each 30 30
60 60
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Nicholas Wright 11,727 - 10,909 - 818
The above loan is unsecured, interest free and repayable on demand.
Page 5