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 09201731 Mr Robert Newman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09201731 2022-12-31 09201731 2023-12-31 09201731 2023-01-01 2023-12-31 09201731 frs-core:CurrentFinancialInstruments 2023-12-31 09201731 frs-core:Non-currentFinancialInstruments 2023-12-31 09201731 frs-core:BetweenOneFiveYears 2023-12-31 09201731 frs-core:ComputerEquipment 2023-12-31 09201731 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09201731 frs-core:ComputerEquipment 2022-12-31 09201731 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 09201731 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 09201731 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 09201731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 09201731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09201731 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 09201731 frs-core:MotorVehicles 2023-12-31 09201731 frs-core:MotorVehicles 2023-01-01 2023-12-31 09201731 frs-core:MotorVehicles 2022-12-31 09201731 frs-core:PlantMachinery 2023-12-31 09201731 frs-core:PlantMachinery 2023-01-01 2023-12-31 09201731 frs-core:PlantMachinery 2022-12-31 09201731 frs-core:WithinOneYear 2023-12-31 09201731 frs-core:ShareCapital 2023-12-31 09201731 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09201731 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09201731 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09201731 frs-bus:SmallEntities 2023-01-01 2023-12-31 09201731 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09201731 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09201731 frs-bus:OrdinaryShareClass2 2023-01-01 2023-12-31 09201731 frs-bus:OrdinaryShareClass2 2023-12-31 09201731 frs-bus:OrdinaryShareClass3 2023-01-01 2023-12-31 09201731 frs-bus:OrdinaryShareClass3 2023-12-31 09201731 frs-bus:OrdinaryShareClass4 2023-01-01 2023-12-31 09201731 frs-bus:OrdinaryShareClass4 2023-12-31 09201731 frs-bus:OrdinaryShareClass5 2023-01-01 2023-12-31 09201731 frs-bus:OrdinaryShareClass5 2023-12-31 09201731 frs-core:DeferredTaxation 2023-01-01 2023-12-31 09201731 frs-core:DeferredTaxation 2022-12-31 09201731 frs-core:DeferredTaxation 2023-12-31 09201731 frs-bus:Director1 2023-01-01 2023-12-31 09201731 frs-countries:EnglandWales 2023-01-01 2023-12-31 09201731 2021-12-31 09201731 2022-12-31 09201731 2022-01-01 2022-12-31 09201731 frs-core:CurrentFinancialInstruments 2022-12-31 09201731 frs-core:Non-currentFinancialInstruments 2022-12-31 09201731 frs-core:BetweenOneFiveYears 2022-12-31 09201731 frs-core:WithinOneYear 2022-12-31 09201731 frs-core:ShareCapital 2022-12-31 09201731 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09201731 frs-bus:OrdinaryShareClass2 2022-01-01 2022-12-31 09201731 frs-bus:OrdinaryShareClass3 2022-01-01 2022-12-31 09201731 frs-bus:OrdinaryShareClass4 2022-01-01 2022-12-31 09201731 frs-bus:OrdinaryShareClass5 2022-01-01 2022-12-31
Registered number: 09201731
Angel Group (South West) Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09201731
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 280,385 310,429
280,385 310,429
CURRENT ASSETS
Stocks 5 5,000 5,000
Debtors 6 231,345 71,464
Cash at bank and in hand 29,091 42,264
265,436 118,728
Creditors: Amounts Falling Due Within One Year 7 (325,222 ) (196,305 )
NET CURRENT ASSETS (LIABILITIES) (59,786 ) (77,577 )
TOTAL ASSETS LESS CURRENT LIABILITIES 220,599 232,852
Creditors: Amounts Falling Due After More Than One Year 8 (130,504 ) (151,434 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,306 ) (16,158 )
NET ASSETS 78,789 65,260
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 78,689 65,160
SHAREHOLDERS' FUNDS 78,789 65,260
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 members have 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 Robert Newman
Director
10 September 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Angel Group (South West) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09201731 . The registered office is 211 -213 North Street, Bedminster, Bristol, BS3 1JH.
The presentation currency of the financial statements is the Pound Sterling (£)
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 represents the revenue generated from the sale of goods and services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.
Sales of goods are recognised when the company has delivered the products to the customer and the customer has accepted the products. 
Revenue from services is recognised when services have been provided and the contractual right to the consideration has been earned. For incomplete contracts an assessment is made of the extent to which revenue has been earned.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses
Depreciation is provided at following annual rates in order to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% on cost
Leasehold 2% reducing balance
Plant & Machinery at varying rates on cost
Motor Vehicles 25% on cost
Computer Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter with a full charge on the year of acquisition.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
2.5. 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.
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Page 4
2.6. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2.7. 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.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
The average number of employees, including directors, during the year was 8 (2022: 9)
8 9
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 January 2023 12,580 244,973 182,706 2,743
As at 31 December 2023 12,580 244,973 182,706 2,743
...CONTINUED
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Page 5
Depreciation
As at 1 January 2023 7,863 19,583 105,414 480
Provided during the period 1,258 4,507 23,519 480
As at 31 December 2023 9,121 24,090 128,933 960
Net Book Value
As at 31 December 2023 3,459 220,883 53,773 1,783
As at 1 January 2023 4,717 225,390 77,292 2,263
Computer Equipment Total
£ £
Cost
As at 1 January 2023 5,058 448,060
As at 31 December 2023 5,058 448,060
Depreciation
As at 1 January 2023 4,291 137,631
Provided during the period 280 30,044
As at 31 December 2023 4,571 167,675
Net Book Value
As at 31 December 2023 487 280,385
As at 1 January 2023 767 310,429
5. Stocks
2023 2022
£ £
Stock 5,000 5,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 230,777 70,355
Other debtors 568 1,109
231,345 71,464
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 29,130 20,046
Other creditors 204,295 69,916
Taxation and social security 91,797 106,343
325,222 196,305
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 130,504 151,434
130,504 151,434
9. Secured Creditors
The following secured debts are included within creditors:
2023 2022
£ £
Bank loans and overdrafts 135,467 137,313
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 16,158 16,158
Deferred taxation (4,852 ) (4,852 )
Balance at 31 December 2023 11,306 11,306
The provision for deferred taxation is made up of accelerated capital allowances.
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
33 Ordinary A shares of £ 1.000 each 33 33
33 Ordinary B shares of £ 1.000 each 33 33
33 Ordinary C shares of £ 1.000 each 33 33
1 Ordinary D shares of £ 1.000 each 1 1
100 100
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 13,631 13,631
Later than one year and not later than five years 21,964 35,595
35,595 49,226
13. Related Party Transactions
During the year, total dividends of £18,300 (2022: £41,000) were paid to the directors.
Mr R Newman, Director, Mr M Newman and Mr J Newman, control the company by virtue of their shareholdings.
The company bank loan is personally guaranteed by Mr R Newman.
Page 7