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Registered number: 08909986
JCRD Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
CBTax
17 Grovelands Business Park
West Haddon Road
East Haddon
Northamptonshire
NN6 8FB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08909986
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 413,362 586,491
Tangible Assets 5 204,191 161,386
617,553 747,877
CURRENT ASSETS
Stocks 6 1,051,696 910,981
Debtors 7 81,084 63,513
Cash at bank and in hand 47,420 60,166
1,180,200 1,034,660
Creditors: Amounts Falling Due Within One Year 8 (607,790 ) (347,296 )
NET CURRENT ASSETS (LIABILITIES) 572,410 687,364
TOTAL ASSETS LESS CURRENT LIABILITIES 1,189,963 1,435,241
Creditors: Amounts Falling Due After More Than One Year 9 (764,759 ) (792,646 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (63,420 )
NET ASSETS 425,204 579,175
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 424,204 578,175
SHAREHOLDERS' FUNDS 425,204 579,175
Page 1
Page 2
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 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 Jonathan Cocker
Director
11/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JCRD Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08909986 . The registered office is Unit 14 Trident Park, Poseidon Way, Warwick, Warwickshire, CV34 6SW.
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. Significant judgements and estimations
In the application of the Company's accounting policies, which are described in note 2, management have been required to make judgments, estimates and assumptions. These estimates which relate to the carrying values of assets and liabilities, where not readily available from other sources, are based on underlying assumptions and experience. Actual results may differ from these estimates. These estimates and assumptions are reviewed on an ongoing basis.
The key sources of estimation uncertainty that have a significant effect on the amount recognised in the financial statements are described below:
During the year, three motor vehicles were in the process of being sold. The sale was agreed and fell within 12 months of the year end, meaning that the vehicles were not held for the long term to generate income or capital appreciation, and therefore no longer meets the definition of a fixed asset. This is now classified as stock.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are development costs. They are amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to 20% on a straight line basis over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. 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 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 33% Straight Line
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Page 4
2.7. 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.
2.8. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At each balance sheet date, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the profit and loss. 
2.9. Foreign Currencies
Monetary 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.
2.10. 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: 3 (2022: 3)
3 3
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Page 5
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 1,186,006
As at 31 December 2023 1,186,006
Amortisation
As at 1 January 2023 599,515
Provided during the period 173,129
As at 31 December 2023 772,644
Net Book Value
As at 31 December 2023 413,362
As at 1 January 2023 586,491
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 24,162 153,059 39,159 38,480 254,860
Additions - 209,500 3,012 - 212,512
Transfers - (123,515 ) - - (123,515 )
As at 31 December 2023 24,162 239,044 42,171 38,480 343,857
Depreciation
As at 1 January 2023 24,162 13,009 31,563 24,740 93,474
Provided during the period - 35,365 4,007 6,820 46,192
As at 31 December 2023 24,162 48,374 35,570 31,560 139,666
Net Book Value
As at 31 December 2023 - 190,670 6,601 6,920 204,191
As at 1 January 2023 - 140,050 7,596 13,740 161,386
6. Stocks
2023 2022
£ £
Stock 698,486 575,237
Materials 347,334 329,868
Work in progress 5,876 5,876
1,051,696 910,981
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Page 6
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 23,884 34,681
Other debtors 57,200 28,832
81,084 63,513
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 133,956 8,363
Trade creditors 17,317 17,221
Bank loans and overdrafts 268,167 37,404
Other loans 45,770 103,711
Other creditors 69,581 108,885
Taxation and social security 72,999 71,712
607,790 347,296
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 392,269 395,156
Bank loans 39,990 39,990
Other loans 332,500 357,500
764,759 792,646
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 133,956 8,363
Later than one year and not later than five years 392,269 395,156
526,225 403,519
526,225 403,519
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6