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 07047073 Mr Christopher Argyle-Robinson Mr Alexander Ross Mr Jonathan Murch true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07047073 2022-12-31 07047073 2023-12-31 07047073 2023-01-01 2023-12-31 07047073 frs-core:CurrentFinancialInstruments 2023-12-31 07047073 frs-core:Non-currentFinancialInstruments 2023-12-31 07047073 frs-core:ComputerEquipment 2023-12-31 07047073 frs-core:ComputerEquipment 2023-01-01 2023-12-31 07047073 frs-core:ComputerEquipment 2022-12-31 07047073 frs-core:FurnitureFittings 2023-12-31 07047073 frs-core:FurnitureFittings 2023-01-01 2023-12-31 07047073 frs-core:FurnitureFittings 2022-12-31 07047073 frs-core:NetGoodwill 2023-12-31 07047073 frs-core:NetGoodwill 2023-01-01 2023-12-31 07047073 frs-core:NetGoodwill 2022-12-31 07047073 frs-core:WithinOneYear 2023-12-31 07047073 frs-core:ShareCapital 2023-12-31 07047073 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07047073 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07047073 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 07047073 frs-bus:SmallEntities 2023-01-01 2023-12-31 07047073 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07047073 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07047073 1 2023-01-01 2023-12-31 07047073 frs-bus:Director1 2023-01-01 2023-12-31 07047073 frs-bus:Director2 2023-01-01 2023-12-31 07047073 frs-bus:Director3 2023-01-01 2023-12-31 07047073 1 2023-01-01 2023-12-31 07047073 frs-countries:EnglandWales 2023-01-01 2023-12-31 07047073 2021-12-31 07047073 2022-12-31 07047073 2022-01-01 2022-12-31 07047073 frs-core:CurrentFinancialInstruments 2022-12-31 07047073 frs-core:Non-currentFinancialInstruments 2022-12-31 07047073 frs-core:WithinOneYear 2022-12-31 07047073 frs-core:ShareCapital 2022-12-31 07047073 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 07047073 1 2022-01-01 2022-12-31
Registered number: 07047073
Red Torch Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07047073
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 19,998 21,773
19,998 21,773
CURRENT ASSETS
Debtors 6 282,672 292,584
Cash at bank and in hand 434,369 529,626
717,041 822,210
Creditors: Amounts Falling Due Within One Year 7 (154,034 ) (209,785 )
NET CURRENT ASSETS (LIABILITIES) 563,007 612,425
TOTAL ASSETS LESS CURRENT LIABILITIES 583,005 634,198
Creditors: Amounts Falling Due After More Than One Year 8 (4,500 ) (7,529 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,750 ) (4,750 )
NET ASSETS 573,755 621,919
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 573,655 621,819
SHAREHOLDERS' FUNDS 573,755 621,919
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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 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
Mr Jonathan Murch
Director
13 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Red Torch Ltd is a private company, limited by shares, incorporated in England & Wales, the registered number is 07047073 . The registered office is Unit 37 1st Floor Tileyard Studios, Tileyard Road, London, England, N7 9AH.
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 value added taxes. Turnover is measured by reviewing the actual services performed against the total services to be provided and is only recognised if it can be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 and fittings 10% straight line
Computer equipment 10% and 33.33% straight line
2.5. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment. 
2.6. Foreign Currencies
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.
2.7. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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.
...CONTINUED
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2.7. Taxation - continued
Deferred tax
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 asset reflects 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.
Deferred tax is only adjusted if the change in the timing difference is material.
2.8. 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.
3. Average Number of Employees
2023 2022
Average number of employees, including directors, during the year 17 15
17 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 46,224
As at 31 December 2023 46,224
Amortisation
As at 1 January 2023 46,224
As at 31 December 2023 46,224
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
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5. Tangible Assets
Fixtures and fittings Computer equipment Total
£ £ £
Cost
As at 1 January 2023 13,439 57,953 71,392
Additions 1,080 7,562 8,642
As at 31 December 2023 14,519 65,515 80,034
Depreciation
As at 1 January 2023 4,749 44,870 49,619
Provided during the period 1,385 9,032 10,417
As at 31 December 2023 6,134 53,902 60,036
Net Book Value
As at 31 December 2023 8,385 11,613 19,998
As at 1 January 2023 8,690 13,083 21,773
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 127,851 120,144
Amounts owed by group undertakings 135,420 136,300
Other debtors 19,401 36,140
282,672 292,584
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 28,859 27,134
Bank loans and overdrafts 3,000 3,000
Other creditors 59,838 75,791
Taxation and social security 62,337 103,860
154,034 209,785
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 4,500 7,529
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Page 6
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 94,686 84,895
94,686 84,895
10. Directors Advances, Credits and Guarantees
Included within Debtors are loans made to a director. The balance at the year end was £7,755 (2022 : £8,067)
The above loan is unsecured, interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is Red Torch Holdings by virtue of his ownership of 100% of the issued share capital in the company.
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