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Registered number: 09610441
Blue Array Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09610441
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 45,153 30,154
Tangible Assets 5 133,705 25,735
178,858 55,889
CURRENT ASSETS
Stocks - 1,759
Debtors 6 323,053 450,573
Cash at bank and in hand 947,271 1,345,061
1,270,324 1,797,393
Creditors: Amounts Falling Due Within One Year 7 (445,015 ) (834,164 )
NET CURRENT ASSETS (LIABILITIES) 825,309 963,229
TOTAL ASSETS LESS CURRENT LIABILITIES 1,004,167 1,019,118
Creditors: Amounts Falling Due After More Than One Year 8 (569,893 ) (301,391 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,816 ) (3,816 )
NET ASSETS 432,458 713,911
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and Loss Account 431,458 712,911
SHAREHOLDERS' FUNDS 432,458 713,911
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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 Simon Schnieders
Director
4 September 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
Blue Array Ltd is a private company, limited by shares, incorporated in England & Wales, the registered number is 09610441 . The registered office is 3rd Floor, The Blade, Abbey Square, Reading, Berkshire, England, RG1 3BE.
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 value added taxes. Turnover includes revenue earned from the provision of services and is recogonised at the point of invoice. If the provision of services spans the financial year end, it is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 1 and 3 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 and machinery 25% on cost and 33.33% on cost
Motor vehicles 20% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.

Assets acquired under hire purchase contracts are depreciated over their useful lives.

Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.

Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.
2.7. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.
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2.8. Foreign Currencies
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.
2.9. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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 
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.
2.10. 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
2023 2022
Average number of employees, including directors, during the year 36 47
36 47
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4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 January 2023 76,622 - 76,622
Additions - 42,154 42,154
As at 31 December 2023 76,622 42,154 118,776
Amortisation
As at 1 January 2023 46,468 - 46,468
Provided during the period 12,155 - 12,155
Impairment losses 15,000 - 15,000
As at 31 December 2023 73,623 - 73,623
Net Book Value
As at 31 December 2023 2,999 42,154 45,153
As at 1 January 2023 30,154 - 30,154
5. Tangible Assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
As at 1 January 2023 53,133 - 53,133
Additions 936 133,956 134,892
Disposals (8,328 ) - (8,328 )
As at 31 December 2023 45,741 133,956 179,697
Depreciation
As at 1 January 2023 27,398 - 27,398
Provided during the period 9,132 9,462 18,594
As at 31 December 2023 36,530 9,462 45,992
Net Book Value
As at 31 December 2023 9,211 124,494 133,705
As at 1 January 2023 25,735 - 25,735
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 232,317 375,281
Other debtors 90,736 75,292
323,053 450,573
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 15,341 -
Trade creditors 14,475 53,363
Bank loans and overdrafts 94,023 70,934
Other creditors 157,347 429,114
Taxation and social security 163,829 280,753
445,015 834,164
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 96,058 -
Bank loans 473,835 301,391
569,893 301,391
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