Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 March 2022 false 1 April 2023 31 March 2024 31 March 2024 10611914 P J Briley P J Briley true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10611914 2023-03-31 10611914 2024-03-31 10611914 2023-04-01 2024-03-31 10611914 frs-core:CurrentFinancialInstruments 2024-03-31 10611914 frs-core:Non-currentFinancialInstruments 2024-03-31 10611914 frs-core:ComputerEquipment 2024-03-31 10611914 frs-core:ComputerEquipment 2023-04-01 2024-03-31 10611914 frs-core:ComputerEquipment 2023-03-31 10611914 frs-core:ShareCapital 2024-03-31 10611914 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 10611914 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10611914 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 10611914 frs-bus:SmallEntities 2023-04-01 2024-03-31 10611914 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10611914 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10611914 1 2023-04-01 2024-03-31 10611914 frs-bus:Director1 2023-04-01 2024-03-31 10611914 frs-bus:Director1 2023-03-31 10611914 frs-bus:Director1 2024-03-31 10611914 frs-countries:EnglandWales 2023-04-01 2024-03-31 10611914 2022-02-28 10611914 2023-03-31 10611914 2022-03-01 2023-03-31 10611914 frs-core:CurrentFinancialInstruments 2023-03-31 10611914 frs-core:Non-currentFinancialInstruments 2023-03-31 10611914 frs-core:ShareCapital 2023-03-31 10611914 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 10611914
Outrospect Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
A K E Tax & Accountancy Ltd
Chartered Certified Accountants
Hoddesdon Enterprise Centre
Pindar Road
Hoddesdon
Hertfordshire
EN11 0FJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10611914
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,337 1,387
2,337 1,387
CURRENT ASSETS
Debtors 5 32,665 47,696
Cash at bank and in hand 58,599 28,277
91,264 75,973
Creditors: Amounts Falling Due Within One Year 6 (44,871 ) (38,869 )
NET CURRENT ASSETS (LIABILITIES) 46,393 37,104
TOTAL ASSETS LESS CURRENT LIABILITIES 48,730 38,491
Creditors: Amounts Falling Due After More Than One Year 7 (5,658 ) (10,206 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (584 ) (333 )
NET ASSETS 42,488 27,952
CAPITAL AND RESERVES
Called up share capital 8 100 1
Profit and Loss Account 42,388 27,951
SHAREHOLDERS' FUNDS 42,488 27,952
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For the year ending 31 March 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.
On behalf of the board
P J Briley
Director
29 August 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
Outrospect Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10611914 . The registered office is Hoddesdon Enterprise Centre, Pindar Road, Hoddesdon, Hertfordshire, EN11 0FJ.
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 management consultancy services. 
Rendering of services
Turnover from the rendering of services is recognised in the period the service is provided.
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:
Computer Equipment 33% straight line
2.4. 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.
2.5. 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.
2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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2.7. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 5,845
Additions 2,789
As at 31 March 2024 8,634
Depreciation
As at 1 April 2023 4,458
Provided during the period 1,839
As at 31 March 2024 6,297
Net Book Value
As at 31 March 2024 2,337
As at 1 April 2023 1,387
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 22,671 17,142
Other debtors 9,994 30,554
32,665 47,696
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 600 -
Bank loans and overdrafts 6,601 4,784
Other creditors - 1,340
Taxation and social security 37,670 32,745
44,871 38,869
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 5,658 10,206
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8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Paul Briley 30,554 72,615 (93,274 ) - 9,895
The above loan is unsecured and was repaid within 9 months from the year end.
10. Related Party Transactions
P Briley
The above is a related party by virtue of being the director.
During the period the director incurred expenses on behalf of the company and drew monies against his loan account.
At the balance sheet date the director owed to the company £9,895 (2023: owed £30,554).
11. Ultimate Controlling Party
The company's ultimate controlling party is P J Briley by virtue of his ownership of 100% of the issued share capital in the company.
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