Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 October 2021 false 1 April 2023 31 March 2024 31 March 2024 12914413 Ms G M Beverley Mrs M H Fowles true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12914413 2023-03-31 12914413 2024-03-31 12914413 2023-04-01 2024-03-31 12914413 frs-core:CurrentFinancialInstruments 2024-03-31 12914413 frs-core:ComputerEquipment 2024-03-31 12914413 frs-core:ComputerEquipment 2023-04-01 2024-03-31 12914413 frs-core:ComputerEquipment 2023-03-31 12914413 frs-core:FurnitureFittings 2024-03-31 12914413 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12914413 frs-core:FurnitureFittings 2023-03-31 12914413 frs-core:ShareCapital 2024-03-31 12914413 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12914413 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12914413 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12914413 frs-bus:SmallEntities 2023-04-01 2024-03-31 12914413 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12914413 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12914413 1 2023-04-01 2024-03-31 12914413 frs-bus:Director1 2023-04-01 2024-03-31 12914413 frs-bus:Director2 2023-04-01 2024-03-31 12914413 frs-countries:EnglandWales 2023-04-01 2024-03-31 12914413 2021-09-30 12914413 2023-03-31 12914413 2021-10-01 2023-03-31 12914413 frs-core:CurrentFinancialInstruments 2023-03-31 12914413 frs-core:ShareCapital 2023-03-31 12914413 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12914413
We Are TALA Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12914413
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 18,663 14,009
18,663 14,009
CURRENT ASSETS
Stocks 1,881,659 2,107,329
Debtors 4 1,758,455 890,387
Cash at bank and in hand 1,360,122 3,432,121
5,000,236 6,429,837
Creditors: Amounts Falling Due Within One Year 5 (4,948,512 ) (6,485,546 )
NET CURRENT ASSETS (LIABILITIES) 51,724 (55,709 )
TOTAL ASSETS LESS CURRENT LIABILITIES 70,387 (41,700 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,669 ) (1,611 )
NET ASSETS/(LIABILITIES) 68,718 (43,311 )
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account 68,717 (43,312 )
SHAREHOLDERS' FUNDS 68,718 (43,311)
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
Mrs M H Fowles
Director
4 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
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. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
1.3. 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.
1.4. 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:
Fixtures & Fittings Straight line over 4 years
Computer Equipment Straight line over 3 years
1.5. Stocks and Work in Progress
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs, which comprise direct production costs, are based on the weighted average basis.
1.6. Financial Instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute and financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditor are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently at amortised cost using the effective interest method.
Page 3
Page 4
1.7. 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.
1.8. 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: 34 (2023: 19)
34 19
3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,208 31,293 33,501
Additions 12,015 11,614 23,629
Disposals - (638 ) (638 )
As at 31 March 2024 14,223 42,269 56,492
Depreciation
As at 1 April 2023 238 19,254 19,492
Provided during the period 3,426 14,954 18,380
Disposals - (43 ) (43 )
As at 31 March 2024 3,664 34,165 37,829
Net Book Value
As at 31 March 2024 10,559 8,104 18,663
As at 1 April 2023 1,970 12,039 14,009
Page 4
Page 5
4. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 112,279 79,303
Other debtors 1,646,176 811,084
1,758,455 890,387
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 653,300 436,752
Bank loans and overdrafts - 116
Other taxes and social security 492,798 348,673
Other creditors 311,755 388,658
Amounts owed to group undertakings 3,490,659 5,311,347
4,948,512 6,485,546
6. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
Land and buildings
31 March 2024 31 March 2023
£ £
Within 1 year 309,473 57,693
Between 1 and 5 years 326,715 -
636,188 57,693
7. Related Party Transactions
During the year had loans payable outstanding from We Are TALA (Holdings) Limited. At the Balance Sheet date the loan totalled £3,490,659 (2023: £5,311,347). The loan is interest free and repayable on demand.
8. Ultimate Controlling Party
The company's ultimate controlling party is Grace Beverly by virtue of share ownership.

9. General Information
We Are TALA Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12914413 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

The presentation currency of the financial statements is the Pound Sterling (£).
Page 5