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 02679221 Ms M N Walsh Mr D H Heslam Mr D H Heslam true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02679221 2022-12-31 02679221 2023-12-31 02679221 2023-01-01 2023-12-31 02679221 frs-core:CurrentFinancialInstruments 2023-12-31 02679221 frs-core:Non-currentFinancialInstruments 2023-12-31 02679221 frs-core:ComputerEquipment 2023-12-31 02679221 frs-core:ComputerEquipment 2023-01-01 2023-12-31 02679221 frs-core:ComputerEquipment 2022-12-31 02679221 frs-core:FurnitureFittings 2023-12-31 02679221 frs-core:FurnitureFittings 2023-01-01 2023-12-31 02679221 frs-core:FurnitureFittings 2022-12-31 02679221 frs-core:ShareCapital 2023-12-31 02679221 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02679221 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02679221 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 02679221 frs-bus:SmallEntities 2023-01-01 2023-12-31 02679221 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02679221 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02679221 1 2023-01-01 2023-12-31 02679221 frs-bus:Director1 2023-01-01 2023-12-31 02679221 frs-bus:Director2 2023-01-01 2023-12-31 02679221 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 02679221 frs-countries:EnglandWales 2023-01-01 2023-12-31 02679221 2021-12-31 02679221 2022-12-31 02679221 2022-01-01 2022-12-31 02679221 frs-core:CurrentFinancialInstruments 2022-12-31 02679221 frs-core:Non-currentFinancialInstruments 2022-12-31 02679221 frs-core:ShareCapital 2022-12-31 02679221 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 02679221
THE VALUE FOR MONEY COMPANY LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 02679221
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,097 2,534
2,097 2,534
CURRENT ASSETS
Stocks 5 310 250
Debtors 6 88,962 84,198
Cash at bank and in hand 104,102 225,144
193,374 309,592
Creditors: Amounts Falling Due Within One Year 7 (113,592 ) (169,981 )
NET CURRENT ASSETS (LIABILITIES) 79,782 139,611
TOTAL ASSETS LESS CURRENT LIABILITIES 81,879 142,145
Creditors: Amounts Falling Due After More Than One Year 8 (14,949 ) (24,843 )
NET ASSETS 66,930 117,302
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 66,830 117,202
SHAREHOLDERS' FUNDS 66,930 117,302
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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 Income Statement.
On behalf of the board
Mr D H Heslam
Director
13/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
THE VALUE FOR MONEY COMPANY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02679221 . The registered office is Cottage By The Church, Filkins, Lechlade, Gloucestershire, GL7 3JG.
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.
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 25% straight line
Computer Equipment 33% straight line
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. Financial Instruments
Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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2.6. 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.
2.7. Pensions
The company operates a defined pension contribution scheme.
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. 
2.8. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.  The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. 
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 8,043 10,558 18,601
Additions 977 - 977
Disposals (1,474 ) - (1,474 )
As at 31 December 2023 7,546 10,558 18,104
Depreciation
As at 1 January 2023 5,523 10,544 16,067
Provided during the period 997 8 1,005
Disposals (1,065 ) - (1,065 )
As at 31 December 2023 5,455 10,552 16,007
Net Book Value
As at 31 December 2023 2,091 6 2,097
As at 1 January 2023 2,520 14 2,534
5. Stocks
2023 2022
£ £
Stock 310 250
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 48,024 62,024
Other debtors 40,938 22,174
88,962 84,198
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 25,028 17,308
Bank loans and overdrafts 10,000 10,000
Other creditors 71,246 131,970
Taxation and social security 7,318 10,703
113,592 169,981
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,949 24,843
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The Company rents its premises from the directors at a rate of £12,000 per annum (2022: £13,767).
11. Ultimate Controlling Party
The Company is controlled by the directors, Mr D Heslam and Ms N M Walsh who own 100% of the issued share capital.
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