Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06061892 F Day J Dick M F Parsons J Dick iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06061892 2023-03-31 06061892 2024-03-31 06061892 2023-04-01 2024-03-31 06061892 frs-core:CurrentFinancialInstruments 2024-03-31 06061892 frs-core:Non-currentFinancialInstruments 2024-03-31 06061892 frs-core:ComputerEquipment 2024-03-31 06061892 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06061892 frs-core:ComputerEquipment 2023-03-31 06061892 frs-core:ShareCapital 2024-03-31 06061892 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06061892 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06061892 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06061892 frs-bus:SmallEntities 2023-04-01 2024-03-31 06061892 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06061892 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06061892 frs-bus:Director1 2023-04-01 2024-03-31 06061892 frs-bus:Director2 2023-04-01 2024-03-31 06061892 frs-bus:Director3 2023-04-01 2024-03-31 06061892 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 06061892 frs-core:CurrentFinancialInstruments 1 2024-03-31 06061892 frs-core:Non-currentFinancialInstruments 1 2024-03-31 06061892 frs-countries:EnglandWales 2023-04-01 2024-03-31 06061892 2022-03-31 06061892 2023-03-31 06061892 2022-04-01 2023-03-31 06061892 frs-core:CurrentFinancialInstruments 2023-03-31 06061892 frs-core:Non-currentFinancialInstruments 2023-03-31 06061892 frs-core:ShareCapital 2023-03-31 06061892 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06061892 frs-core:CurrentFinancialInstruments 1 2023-03-31 06061892 frs-core:Non-currentFinancialInstruments 1 2023-03-31
Registered number: 06061892
Central Asset Finance Limited
Financial Statements
For The Year Ended 31 March 2024
William Price & Co Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06061892
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,089 18,989
16,089 18,989
CURRENT ASSETS
Debtors 5 4,655,285 3,837,884
Cash at bank and in hand 248,461 327,652
4,903,746 4,165,536
Creditors: Amounts Falling Due Within One Year 6 (1,428,199 ) (783,343 )
NET CURRENT ASSETS (LIABILITIES) 3,475,547 3,382,193
TOTAL ASSETS LESS CURRENT LIABILITIES 3,491,636 3,401,182
Creditors: Amounts Falling Due After More Than One Year 7 (1,652,887 ) (1,696,387 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,500 ) -
NET ASSETS 1,831,249 1,704,795
CAPITAL AND RESERVES
Called up share capital 8 1,299 1,299
Profit and Loss Account 1,829,950 1,703,496
SHAREHOLDERS' FUNDS 1,831,249 1,704,795
Page 1
Page 2
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 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
F Day
Director
16 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Central Asset Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06061892 . The registered office is Westbury Court Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
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 services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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.
Interest receivable on finance lease agreements is recognised over the life of each lease contract.
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 15% 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 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.
...CONTINUED
Page 3
Page 4
2.4. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 62,401
As at 31 March 2024 62,401
Depreciation
As at 1 April 2023 43,412
Provided during the period 2,900
As at 31 March 2024 46,312
Net Book Value
As at 31 March 2024 16,089
As at 1 April 2023 18,989
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,962 8,124
Other debtors 6,973 3,902
Loan book 1,707,604 1,308,697
VAT 8,544 2,887
1,733,083 1,323,610
Due after more than one year
Loan book > 1 year 2,922,202 2,514,274
2,922,202 2,514,274
4,655,285 3,837,884
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 292 3,652
Funding loans 1,378,536 775,861
Other creditors 43,211 -
Accruals and deferred income 6,160 3,830
1,428,199 783,343
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Funding loan 1,652,887 1,696,387
1,652,887 1,696,387
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,299 1,299
Page 5