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Registered number: 10732251
Parcel Safe Place Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report of the Accountant to the directors of Parcel Safe Place Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 30 April 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
02/09/2024
van Dijk Accountants
Georgian House
34 Thoroughfare
Halesworth
Suffolk
IP19 8AP
Page 1
Page 2
Balance Sheet
Registered number: 10732251
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 74,695 97,674
Tangible Assets 5 21,247 23,488
95,942 121,162
CURRENT ASSETS
Stocks 6 25,000 -
Debtors 7 191,917 102,208
Cash at bank and in hand 494,601 496,934
711,518 599,142
Creditors: Amounts Falling Due Within One Year 8 (303,441 ) (331,561 )
NET CURRENT ASSETS (LIABILITIES) 408,077 267,581
TOTAL ASSETS LESS CURRENT LIABILITIES 504,019 388,743
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,037 ) (4,579 )
NET ASSETS 499,982 384,164
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 499,882 384,064
SHAREHOLDERS' FUNDS 499,982 384,164
Page 2
Page 3
For the year ending 30 April 2024 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 D E Fjeld
Director
02/09/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Parcel Safe Place Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10732251 . The registered office is Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP.
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. 
Credit for software usage and support is taken immediately for all contract lengths not exceeding twelve months. Where the contract duration is longer than twelve months credit is deferred until the relevant year. 
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are initially measured at cost. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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 10% on cost
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
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2.5. 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.
2.6. 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.
2.7. Change in accounting policies
A change in accounting policy relating to 'rendering of services' above. Previously all software and support contracts were carried forward on a monthly basis and apportioned equally over those months. 
The policy has now changed to take credit for the entire amount immediately on contracts not exceeding twelve months.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
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4. Intangible Assets
Other
£
Cost
As at 1 May 2023 200,453
Additions 21,390
As at 30 April 2024 221,843
Amortisation
As at 1 May 2023 102,779
Provided during the period 44,369
As at 30 April 2024 147,148
Net Book Value
As at 30 April 2024 74,695
As at 1 May 2023 97,674
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 6,563 25,916 1,313 33,792
Additions - - 4,640 4,640
As at 30 April 2024 6,563 25,916 5,953 38,432
Depreciation
As at 1 May 2023 3,335 6,479 490 10,304
Provided during the period 656 4,859 1,366 6,881
As at 30 April 2024 3,991 11,338 1,856 17,185
Net Book Value
As at 30 April 2024 2,572 14,578 4,097 21,247
As at 1 May 2023 3,228 19,437 823 23,488
6. Stocks
2024 2023
£ £
Stock 25,000 -
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Page 7
7. Debtors
2024 2023
£ £
Due within one year
Due after more than one year
Trade debtors 191,917 102,208
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 73,919 31,832
VAT 97,203 101,187
Other creditors 492 492
Accruals and deferred income 130,830 197,053
Directors' loan accounts 997 997
303,441 331,561
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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