Acorah Software Products - Accounts Production 15.0.400 false true 31 August 2023 1 September 2022 false 1 September 2023 31 July 2024 31 July 2024 10348775 Mr Gareth Buckley Mrs Stephanie Buckley iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10348775 2023-08-31 10348775 2024-07-31 10348775 2023-09-01 2024-07-31 10348775 frs-core:Non-currentFinancialInstruments 2024-07-31 10348775 frs-core:ComputerEquipment 2023-09-01 2024-07-31 10348775 frs-core:FurnitureFittings 2023-09-01 2024-07-31 10348775 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-07-31 10348775 frs-core:ShareCapital 2024-07-31 10348775 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10348775 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-07-31 10348775 frs-bus:AbridgedAccounts 2023-09-01 2024-07-31 10348775 frs-bus:SmallEntities 2023-09-01 2024-07-31 10348775 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-07-31 10348775 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-07-31 10348775 frs-bus:Director1 2023-09-01 2024-07-31 10348775 frs-bus:Director1 2023-08-31 10348775 frs-bus:Director1 2024-07-31 10348775 frs-bus:Director2 2023-09-01 2024-07-31 10348775 frs-countries:EnglandWales 2023-09-01 2024-07-31 10348775 2022-08-31 10348775 2023-08-31 10348775 2022-09-01 2023-08-31 10348775 frs-core:Non-currentFinancialInstruments 2023-08-31 10348775 frs-core:ShareCapital 2023-08-31 10348775 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 10348775
The Insolvency Company SW Ltd
Unaudited ABRIDGED Financial Statements
For the Period 1 September 2023 to 31 July 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 10348775
31 July 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,824 11,630
10,824 11,630
CURRENT ASSETS
Debtors 970,535 377,655
Cash at bank and in hand 497,089 121,504
1,467,624 499,159
Creditors: Amounts Falling Due Within One Year (317,865 ) (159,600 )
NET CURRENT ASSETS (LIABILITIES) 1,149,759 339,559
TOTAL ASSETS LESS CURRENT LIABILITIES 1,160,583 351,189
Creditors: Amounts Falling Due After More Than One Year - (13,088 )
NET ASSETS 1,160,583 338,101
CAPITAL AND RESERVES
Called up share capital 5 10 10
Profit and Loss Account 1,160,573 338,091
SHAREHOLDERS' FUNDS 1,160,583 338,101
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For the period ending 31 July 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Gareth Buckley
Director
Mrs Stephanie Buckley
Director
15/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
The Insolvency Company SW Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10348775 . The registered office is 1st Floor, No 2 The Crescent, Taunton, Somerset, TA1 4EA.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Freehold 10% Straight Line
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33.33% Reducing Balance
2.4. 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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2.5. 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.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was:
31 July 2024 31 August 2023
Office and administration 10 9
10 9
4. Tangible Assets
Total
£
Cost
As at 1 September 2023 20,203
Additions 2,682
Disposals (1,834 )
As at 31 July 2024 21,051
Depreciation
As at 1 September 2023 8,573
Provided during the period 2,976
Disposals (1,322 )
As at 31 July 2024 10,227
Net Book Value
As at 31 July 2024 10,824
As at 1 September 2023 11,630
5. Share Capital
31 July 2024 31 August 2023
£ £
Allotted, Called up and fully paid 10 10
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6. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Gareth Buckley (37 ) 123,238 121,281 - 1,920
The above loan was unsecured, interest free and repayable on demand.
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