Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 12694906 Mr S Brooks Mr M W Brooks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12694906 2023-06-30 12694906 2024-06-30 12694906 2023-07-01 2024-06-30 12694906 frs-core:CurrentFinancialInstruments 2024-06-30 12694906 frs-core:Non-currentFinancialInstruments 2024-06-30 12694906 frs-core:BetweenOneFiveYears 2024-06-30 12694906 frs-core:ComputerEquipment 2024-06-30 12694906 frs-core:ComputerEquipment 2023-07-01 2024-06-30 12694906 frs-core:ComputerEquipment 2023-06-30 12694906 frs-core:FurnitureFittings 2024-06-30 12694906 frs-core:FurnitureFittings 2023-07-01 2024-06-30 12694906 frs-core:FurnitureFittings 2023-06-30 12694906 frs-core:NetGoodwill 2024-06-30 12694906 frs-core:NetGoodwill 2023-07-01 2024-06-30 12694906 frs-core:NetGoodwill 2023-06-30 12694906 frs-core:MotorVehicles 2024-06-30 12694906 frs-core:MotorVehicles 2023-07-01 2024-06-30 12694906 frs-core:MotorVehicles 2023-06-30 12694906 frs-core:PlantMachinery 2024-06-30 12694906 frs-core:PlantMachinery 2023-07-01 2024-06-30 12694906 frs-core:PlantMachinery 2023-06-30 12694906 frs-core:WithinOneYear 2024-06-30 12694906 frs-core:ShareCapital 2024-06-30 12694906 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 12694906 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12694906 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 12694906 frs-bus:SmallEntities 2023-07-01 2024-06-30 12694906 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12694906 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12694906 frs-bus:Director1 2023-07-01 2024-06-30 12694906 frs-bus:Director2 2023-07-01 2024-06-30 12694906 frs-countries:EnglandWales 2023-07-01 2024-06-30 12694906 2022-06-30 12694906 2023-06-30 12694906 2022-07-01 2023-06-30 12694906 frs-core:CurrentFinancialInstruments 2023-06-30 12694906 frs-core:Non-currentFinancialInstruments 2023-06-30 12694906 frs-core:BetweenOneFiveYears 2023-06-30 12694906 frs-core:WithinOneYear 2023-06-30 12694906 frs-core:ShareCapital 2023-06-30 12694906 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 12694906
Fast Graphics (Nottm) Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12694906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,000 21,250
Tangible Assets 5 208,757 114,895
228,757 136,145
CURRENT ASSETS
Debtors 6 74,080 78,287
Cash at bank and in hand 60,725 98,375
134,805 176,662
Creditors: Amounts Falling Due Within One Year 7 (104,072 ) (119,461 )
NET CURRENT ASSETS (LIABILITIES) 30,733 57,201
TOTAL ASSETS LESS CURRENT LIABILITIES 259,490 193,346
Creditors: Amounts Falling Due After More Than One Year 8 (148,021 ) (77,701 )
NET ASSETS 111,469 115,645
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 111,369 115,545
SHAREHOLDERS' FUNDS 111,469 115,645
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For the year 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 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 S Brooks
Director
22 August 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
Fast Graphics (Nottm) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12694906 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 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% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over 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.
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 4)
6 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 25,000
As at 30 June 2024 25,000
Amortisation
As at 1 July 2023 3,750
Provided during the period 1,250
As at 30 June 2024 5,000
Net Book Value
As at 30 June 2024 20,000
As at 1 July 2023 21,250
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 75,429 74,202 - 5,979 155,610
Additions 120,000 - 1,800 1,718 123,518
As at 30 June 2024 195,429 74,202 1,800 7,697 279,128
...CONTINUED
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Depreciation
As at 1 July 2023 12,214 26,686 - 1,815 40,715
Provided during the period 18,322 9,504 360 1,470 29,656
As at 30 June 2024 30,536 36,190 360 3,285 70,371
Net Book Value
As at 30 June 2024 164,893 38,012 1,440 4,412 208,757
As at 1 July 2023 63,215 47,516 - 4,164 114,895
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 61,882 71,620
Prepayments and accrued income 2,667 2,667
Other debtors 4,000 4,000
Corporation tax recoverable assets 5,531 -
74,080 78,287
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,969 20,563
Trade creditors 26,747 27,175
Corporation tax - 31,573
Other taxes and social security 8,603 4,538
VAT 10,468 13,204
Directors' loan accounts 30,285 22,408
104,072 119,461
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 57,166 5,469
Other loans - 5,010
Directors loan account 90,855 67,222
148,021 77,701
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 27,969 20,563
Later than one year and not later than five years 57,166 5,469
85,135 26,032
85,135 26,032
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
At the balance sheet date, the amount owed to the directors through the directors loan accounts totalled £121,140 (2023: £89,630).
The directors loan accounts are unsecured, interest free and repayable on demand.
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