Acorah Software Products - Accounts Production 14.5.601 false true 29 December 2022 31 December 2021 false 30 December 2022 29 December 2023 29 December 2023 05994980 Mr Jason Chadwick iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05994980 2022-12-29 05994980 2023-12-29 05994980 2022-12-30 2023-12-29 05994980 frs-core:CurrentFinancialInstruments 2023-12-29 05994980 frs-core:Non-currentFinancialInstruments 2023-12-29 05994980 frs-core:FurnitureFittings 2023-12-29 05994980 frs-core:FurnitureFittings 2022-12-30 2023-12-29 05994980 frs-core:FurnitureFittings 2022-12-29 05994980 frs-core:NetGoodwill 2023-12-29 05994980 frs-core:NetGoodwill 2022-12-30 2023-12-29 05994980 frs-core:NetGoodwill 2022-12-29 05994980 frs-core:PlantMachinery 2023-12-29 05994980 frs-core:PlantMachinery 2022-12-30 2023-12-29 05994980 frs-core:PlantMachinery 2022-12-29 05994980 frs-core:ShareCapital 2023-12-29 05994980 frs-core:RetainedEarningsAccumulatedLosses 2023-12-29 05994980 frs-bus:PrivateLimitedCompanyLtd 2022-12-30 2023-12-29 05994980 frs-bus:FilletedAccounts 2022-12-30 2023-12-29 05994980 frs-bus:SmallEntities 2022-12-30 2023-12-29 05994980 frs-bus:AuditExempt-NoAccountantsReport 2022-12-30 2023-12-29 05994980 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-30 2023-12-29 05994980 frs-bus:Director1 2022-12-30 2023-12-29 05994980 frs-bus:Director1 2022-12-29 05994980 frs-bus:Director1 2023-12-29 05994980 frs-countries:EnglandWales 2022-12-30 2023-12-29 05994980 2021-12-30 05994980 2022-12-29 05994980 2021-12-31 2022-12-29 05994980 frs-core:CurrentFinancialInstruments 2022-12-29 05994980 frs-core:Non-currentFinancialInstruments 2022-12-29 05994980 frs-core:ShareCapital 2022-12-29 05994980 frs-core:RetainedEarningsAccumulatedLosses 2022-12-29
Registered number: 05994980
InstantiX Limited
Unaudited Financial Statements
For The Year Ended 29 December 2023
TaxAssist Accountants
TaxAssist Accountants
1 Sundorne Avenue
Shrewsbury
Shropshire
SY1 4JW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 05994980
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,816 2,092
1,816 2,092
CURRENT ASSETS
Stocks 6 5,608 5,608
Debtors 7 134,340 141,985
Cash at bank and in hand 125 6,817
140,073 154,410
Creditors: Amounts Falling Due Within One Year 8 (109,562 ) (132,235 )
NET CURRENT ASSETS (LIABILITIES) 30,511 22,175
TOTAL ASSETS LESS CURRENT LIABILITIES 32,327 24,267
Creditors: Amounts Falling Due After More Than One Year 9 (14,167 ) (24,167 )
NET ASSETS 18,160 100
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 18,060 -
SHAREHOLDERS' FUNDS 18,160 100
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Page 2
For the year ending 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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 Income Statement.
On behalf of the board
Mr Jason Chadwick
Director
29th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
InstantiX Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05994980 . The registered office is 6-8 Mill Street, Whitchurch, Shropshire, SY13 1SE.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. 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 income statement over its estimated economic life of .... 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:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 30 December 2022 106,501
As at 29 December 2023 106,501
Amortisation
As at 30 December 2022 106,501
As at 29 December 2023 106,501
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 30 December 2022 13,345 41,105 54,450
Additions 329 - 329
As at 29 December 2023 13,674 41,105 54,779
Depreciation
As at 30 December 2022 11,657 40,701 52,358
Provided during the period 504 101 605
As at 29 December 2023 12,161 40,802 52,963
Net Book Value
As at 29 December 2023 1,513 303 1,816
As at 30 December 2022 1,688 404 2,092
6. Stocks
2023 2022
£ £
Finished goods 5,608 5,608
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,603 8,581
Director's loan account 103,038 100,484
113,641 109,065
Due after more than one year
Corporation tax recoverable assets 20,699 32,920
20,699 32,920
134,340 141,985
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 12,583 4,821
Bank loans and overdrafts 10,000 12,500
Corporation tax 29,236 45,354
Other taxes and social security 9,025 4,108
VAT 47,223 63,220
Accruals 817 1,652
Pension contribution liability 678 580
109,562 132,235
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
14,167 24,167
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 30 December 2022 Amounts advanced Amounts repaid Amounts written off As at 29 December 2023
£ £ £ £ £
Mr Jason Chadwick 100,484 103,449 70,462 - 133,471
The above loan is unsecured, interest free and repayable on demand.
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