Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2023 1 January 2023 false 1 January 2024 30 June 2024 30 June 2024 7097773 Mr Gary Howes Mrs Danielle Howes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 7097773 2023-12-31 7097773 2024-06-30 7097773 2024-01-01 2024-06-30 7097773 frs-core:CurrentFinancialInstruments 2024-06-30 7097773 frs-core:Non-currentFinancialInstruments 2024-06-30 7097773 frs-core:ComputerEquipment 2024-01-01 2024-06-30 7097773 frs-core:FurnitureFittings 2024-06-30 7097773 frs-core:FurnitureFittings 2024-01-01 2024-06-30 7097773 frs-core:FurnitureFittings 2023-12-31 7097773 frs-core:ShareCapital 2024-06-30 7097773 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 7097773 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-06-30 7097773 frs-bus:FilletedAccounts 2024-01-01 2024-06-30 7097773 frs-bus:SmallEntities 2024-01-01 2024-06-30 7097773 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-06-30 7097773 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-06-30 7097773 frs-bus:Director1 2024-01-01 2024-06-30 7097773 frs-bus:Director1 2023-12-31 7097773 frs-bus:Director1 2024-06-30 7097773 frs-bus:CompanySecretary1 2024-01-01 2024-06-30 7097773 frs-core:CurrentFinancialInstruments 1 2024-06-30 7097773 frs-countries:EnglandWales 2024-01-01 2024-06-30 7097773 2022-12-31 7097773 2023-12-31 7097773 2023-01-01 2023-12-31 7097773 frs-core:CurrentFinancialInstruments 2023-12-31 7097773 frs-core:Non-currentFinancialInstruments 2023-12-31 7097773 frs-core:ShareCapital 2023-12-31 7097773 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 7097773 frs-core:CurrentFinancialInstruments 1 2023-12-31 7097773 frs-core:CurrentFinancialInstruments 2 2023-12-31
Registered number: 7097773
The Economy News Ltd
Unaudited Financial Statements
For the Period 1 January 2024 to 30 June 2024
Onshore Consulting Limited
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 7097773
30 June 2024 31 December 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 547 974
547 974
CURRENT ASSETS
Debtors 5 24,642 29,153
Cash at bank and in hand 40,738 38,595
65,380 67,748
Creditors: Amounts Falling Due Within One Year 6 (36,265 ) (51,426 )
NET CURRENT ASSETS (LIABILITIES) 29,115 16,322
TOTAL ASSETS LESS CURRENT LIABILITIES 29,662 17,296
Creditors: Amounts Falling Due After More Than One Year 7 (16,483 ) (16,483 )
NET ASSETS 13,179 813
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 13,079 713
SHAREHOLDERS' FUNDS 13,179 813
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For the period ending 30 June 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
Mr Gary Howes
Director
05/09/2024
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
The Economy News Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 7097773 . The registered office is Albany House Shute End, Wokingham, RG40 1BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 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.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities

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:

Fixtures & Fittings 20% Straightline
Computer Equipment 33.3% Reducing Balance
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 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.
2.5. Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the company will not be able to collect all amounts
due according to the original terms of the receivables.
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2.6. Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 9,204
As at 30 June 2024 9,204
Depreciation
As at 1 January 2024 8,230
Provided during the period 427
As at 30 June 2024 8,657
Net Book Value
As at 30 June 2024 547
As at 1 January 2024 974
5. Debtors
30 June 2024 31 December 2023
£ £
Due within one year
Other taxes and social security (S455) 27 27
Director's loan account - 4,696
27 4,723
Due after more than one year
Other debtors 370 185
Corporation tax recoverable assets (S455) 24,245 24,245
24,615 24,430
24,642 29,153
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6. Creditors: Amounts Falling Due Within One Year
30 June 2024 31 December 2023
£ £
Trade creditors (1 ) (1 )
Corporation tax 30,435 21,832
Net wages 1,048 995
Other creditors BBL current portion 4,300 8,600
Other creditors - Dividends payable - 20,000
Director's loan account 483 -
36,265 51,426
7. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 31 December 2023
£ £
Bank loans 16,483 16,483
Bounce back loan - effective 13 June 2020 at an interest rate 2.5% per annum. Interest charge for the first 12 months ending 12 May 2021 borne by the Government.
8. Share Capital
30 June 2024 31 December 2023
£ £
Allotted, Called up and fully paid 100 100
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred
and the time value of money is material, the initial measurement is on a present value basis.
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors: 
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Gary Howes 4,696 - 4,696 - -
The above loan was fully repaid in the period
10. Dividends
30 June 2024 31 December 2023
£ £
On equity shares:
Final dividend paid 14,596 76,900
11. Change in Financial year end
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The company financial year end has been changed to 30 June. These financials cover a six month peirod to 30 June 2024.
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