Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04202179 Mr Benjamin Reason iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04202179 2022-12-31 04202179 2023-12-31 04202179 2023-01-01 2023-12-31 04202179 frs-core:CurrentFinancialInstruments 2023-12-31 04202179 frs-core:Non-currentFinancialInstruments 2023-12-31 04202179 frs-core:ComputerEquipment 2023-12-31 04202179 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04202179 frs-core:ComputerEquipment 2022-12-31 04202179 frs-core:FurnitureFittings 2023-12-31 04202179 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04202179 frs-core:FurnitureFittings 2022-12-31 04202179 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04202179 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04202179 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04202179 frs-core:CapitalRedemptionReserve 2023-12-31 04202179 frs-core:OtherReservesSubtotal 2023-12-31 04202179 frs-core:SharePremium 2023-12-31 04202179 frs-core:ShareCapital 2023-12-31 04202179 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04202179 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04202179 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04202179 frs-bus:SmallEntities 2023-01-01 2023-12-31 04202179 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04202179 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04202179 frs-bus:Director1 2023-01-01 2023-12-31 04202179 frs-countries:EnglandWales 2023-01-01 2023-12-31 04202179 2021-12-31 04202179 2022-12-31 04202179 2022-01-01 2022-12-31 04202179 frs-core:CurrentFinancialInstruments 2022-12-31 04202179 frs-core:Non-currentFinancialInstruments 2022-12-31 04202179 frs-core:CapitalRedemptionReserve 2022-12-31 04202179 frs-core:OtherReservesSubtotal 2022-12-31 04202179 frs-core:SharePremium 2022-12-31 04202179 frs-core:ShareCapital 2022-12-31 04202179 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04202179
Livework Studio Limited
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—5
Page 1
Balance Sheet
Registered number: 04202179
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 19,273 39,487
19,273 39,487
CURRENT ASSETS
Debtors 4 93,575 372,618
Cash at bank and in hand 372,336 529,502
465,911 902,120
Creditors: Amounts Falling Due Within One Year 5 (304,907 ) (343,368 )
NET CURRENT ASSETS (LIABILITIES) 161,004 558,752
TOTAL ASSETS LESS CURRENT LIABILITIES 180,277 598,239
Creditors: Amounts Falling Due After More Than One Year 6 (6,538 ) (6,252 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,082 ) (5,174 )
NET ASSETS 172,657 586,813
CAPITAL AND RESERVES
Called up share capital 5 5
Share premium account 57,802 57,802
Capital redemption reserve 3 3
Other reserves 55,069 55,069
Profit and Loss Account 59,778 473,934
SHAREHOLDERS' FUNDS 172,657 586,813
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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 Benjamin Reason
Director
9 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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 recognised 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.
1.3. 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:
Website (software) development Straight line over 5 years
Fixtures and fittings Straight line over 5 years
Computer equipment Straight line over 3 years
1.4. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment. 
1.5. 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.
1.6. 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.
...CONTINUED
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1.6. Taxation - continued
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.
1.7. 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 16 (2022: 21)
16 21
3. Tangible Assets
Land & Property
Website (software) development Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 January 2023 131,365 17,457 37,117 185,939
Additions - 241 - 241
Disposals - (3,012 ) (11,259 ) (14,271 )
As at 31 December 2023 131,365 14,686 25,858 171,909
Depreciation
As at 1 January 2023 122,978 3,437 20,037 146,452
Provided during the period 4,067 3,156 8,183 15,406
Disposals - (1,202 ) (8,020 ) (9,222 )
As at 31 December 2023 127,045 5,391 20,200 152,636
Net Book Value
As at 31 December 2023 4,320 9,295 5,658 19,273
As at 1 January 2023 8,387 14,020 17,080 39,487
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4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 38,876 226,870
Amounts owed by participating interests 26,558 17,931
Other debtors 28,141 127,817
93,575 372,618
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 10,333 33,582
Amounts owed to group undertakings 92,008 63,683
Other creditors 125,200 166,618
Taxation and social security 77,366 79,485
304,907 343,368
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Directors loan account 6,538 6,252
6,538 6,252
7. Related Party Transactions
Livework Netherlands
The amount due from group undertaking at the year end was £26,558 (2022 : £17,931)
Livework Limited
the amount due to group undertaking at the year end was £92,008 (2022 : £63,683)
8. General Information
Livework Studio Limited is a private company, limited by shares, incorporated in England & Wales, the registered number is 04202179 . The registered office is 86-90 Paul Street, London, EC2A 4NE.
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