Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2022 1 September 2021 false 1 September 2022 31 August 2023 31 August 2023 02486168 Mrs Jennifer Bezer Dr Yiorgos Palierakis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02486168 2022-08-31 02486168 2023-08-31 02486168 2022-09-01 2023-08-31 02486168 frs-core:CurrentFinancialInstruments 2023-08-31 02486168 frs-core:ShareCapital 2023-08-31 02486168 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 02486168 frs-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 02486168 frs-bus:FilletedAccounts 2022-09-01 2023-08-31 02486168 frs-bus:SmallEntities 2022-09-01 2023-08-31 02486168 frs-bus:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 02486168 frs-bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 02486168 frs-bus:Director1 2022-09-01 2023-08-31 02486168 frs-bus:Director2 2022-09-01 2023-08-31 02486168 frs-core:CurrentFinancialInstruments 1 2023-08-31 02486168 frs-core:CurrentFinancialInstruments 2 2023-08-31 02486168 frs-countries:EnglandWales 2022-09-01 2023-08-31 02486168 2021-08-31 02486168 2022-08-31 02486168 2021-09-01 2022-08-31 02486168 frs-core:CurrentFinancialInstruments 2022-08-31 02486168 frs-core:ShareCapital 2022-08-31 02486168 frs-core:RetainedEarningsAccumulatedLosses 2022-08-31 02486168 frs-core:CurrentFinancialInstruments 1 2022-08-31 02486168 frs-core:CurrentFinancialInstruments 2 2022-08-31
Registered number: 02486168
Novaco Limited
Financial Statements
For The Year Ended 31 August 2023
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 02486168
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 - 15,096
Debtors 5 934,409 777,621
Cash at bank and in hand 246,790 245,776
1,181,199 1,038,493
Creditors: Amounts Falling Due Within One Year 6 (1,089,964 ) (885,469 )
NET CURRENT ASSETS (LIABILITIES) 91,235 153,024
TOTAL ASSETS LESS CURRENT LIABILITIES 91,235 153,024
NET ASSETS 91,235 153,024
CAPITAL AND RESERVES
Called up share capital 7 20 20
Profit and Loss Account 91,215 153,004
SHAREHOLDERS' FUNDS 91,235 153,024
Page 1
Page 2
For the year ending 31 August 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
Mrs Jennifer Bezer
Director
30th August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Novaco Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02486168 . The registered office is 55 Crown Street, Brentwood, Essex, CM14 4BD.
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. 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
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.

Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 11)
9 11
4. Stocks
2023 2022
£ £
Stock - 15,096
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 359,937 269,126
Prepayments and accrued income 1,676 -
Sundry debtors - 95
VAT 56,624 2,249
Amounts owed by group undertakings 510,822 504,591
Amounts owed by associates 5,350 1,560
934,409 777,621
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,116 13,629
Corporation tax 31,397 60,955
Other taxes and social security 8,586 21,331
Payments received on account 990,582 725,551
Pension creditor 31 31
Customer deposits 3,200 1,830
Accruals and deferred income 49,052 60,888
Directors' loan accounts - 1,254
1,089,964 885,469
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
Page 4