Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 13239245 Ms Elizabeth Nicholson Miss Chantelle Nicholson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13239245 2023-03-31 13239245 2024-03-31 13239245 2023-04-01 2024-03-31 13239245 frs-core:CurrentFinancialInstruments 2024-03-31 13239245 frs-core:ComputerEquipment 2024-03-31 13239245 frs-core:ComputerEquipment 2023-04-01 2024-03-31 13239245 frs-core:ComputerEquipment 2023-03-31 13239245 frs-core:FurnitureFittings 2024-03-31 13239245 frs-core:FurnitureFittings 2023-04-01 2024-03-31 13239245 frs-core:FurnitureFittings 2023-03-31 13239245 frs-core:ShareCapital 2024-03-31 13239245 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 13239245 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13239245 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 13239245 frs-bus:SmallEntities 2023-04-01 2024-03-31 13239245 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13239245 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13239245 frs-bus:Director1 2023-04-01 2024-03-31 13239245 frs-bus:Director2 2023-04-01 2024-03-31 13239245 frs-countries:EnglandWales 2023-04-01 2024-03-31 13239245 2022-03-31 13239245 2023-03-31 13239245 2022-04-01 2023-03-31 13239245 frs-core:CurrentFinancialInstruments 2023-03-31 13239245 frs-core:ShareCapital 2023-03-31 13239245 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 13239245
APRICITY INITIATIVES LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Virgate Accounts Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13239245
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,207 -
1,207 -
CURRENT ASSETS
Stocks 5 13,695 11,305
Debtors 6 46,524 56,542
Cash at bank and in hand 465,109 182,147
525,328 249,994
Creditors: Amounts Falling Due Within One Year 7 (372,871 ) (191,177 )
NET CURRENT ASSETS (LIABILITIES) 152,457 58,817
TOTAL ASSETS LESS CURRENT LIABILITIES 153,664 58,817
NET ASSETS 153,664 58,817
CAPITAL AND RESERVES
Called up share capital 8 2 1
Profit and Loss Account 153,662 58,816
SHAREHOLDERS' FUNDS 153,664 58,817
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
Miss Chantelle Nicholson
Director
12/09/2024
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
APRICITY INITIATIVES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 13239245 . The registered office is 1st Floor Olympus House, Quedgeley, Gloucester, GL2 4NF.
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. 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 2 years straight line
Computer Equipment 2 years straight line
The prior year Financial Statements incorrectly included a landlord contribution towards fit out costs as a negative asset.  This has been corrected in these accounts and the comparatives have been restated.
2.4. 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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 8)
18 8
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 - - -
Additions 419 948 1,367
As at 31 March 2024 419 948 1,367
Depreciation
As at 1 April 2023 - - -
Provided during the period 70 90 160
As at 31 March 2024 70 90 160
Net Book Value
As at 31 March 2024 349 858 1,207
As at 1 April 2023 - - -
5. Stocks
2024 2023
as restated
£ £
Stock 13,695 11,305
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 8,884 13,200
Prepayments and accrued income 12,876 23,078
Other debtors 20,223 20,264
Amounts owed by group undertakings 4,541 -
46,524 56,542
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 9,359 629
Corporation tax 46,734 13,970
Other taxes and social security 11,869 13,835
VAT 37,505 17,129
Net wages 37,155 -
Other creditors 38,512 83,691
...CONTINUED
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Page 5
Accruals and deferred income 132,749 48,144
Directors' loan accounts 15,988 -
Amounts owed to group undertakings 43,000 13,779
372,871 191,177
8. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2 1
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