Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 07506881 Mr Gregg David Ivers Mr Daniel Redfern Mr Mark Stephen Wearing Datatek Holdings Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07506881 2023-07-31 07506881 2024-07-31 07506881 2023-08-01 2024-07-31 07506881 frs-core:CurrentFinancialInstruments 2024-07-31 07506881 frs-core:FurnitureFittings 2024-07-31 07506881 frs-core:FurnitureFittings 2023-08-01 2024-07-31 07506881 frs-core:FurnitureFittings 2023-07-31 07506881 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 07506881 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07506881 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 07506881 frs-core:PlantMachinery 2024-07-31 07506881 frs-core:PlantMachinery 2023-08-01 2024-07-31 07506881 frs-core:PlantMachinery 2023-07-31 07506881 frs-core:OtherReservesSubtotal 2024-07-31 07506881 frs-core:ShareCapital 2024-07-31 07506881 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 07506881 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07506881 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 07506881 frs-bus:SmallEntities 2023-08-01 2024-07-31 07506881 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07506881 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 07506881 1 2023-08-01 2024-07-31 07506881 frs-core:DeferredTaxation 2023-08-01 2024-07-31 07506881 frs-core:DeferredTaxation 2023-07-31 07506881 frs-core:DeferredTaxation 2024-07-31 07506881 frs-bus:Director1 2023-08-01 2024-07-31 07506881 frs-bus:Director2 2023-08-01 2024-07-31 07506881 frs-bus:Director3 2023-08-01 2024-07-31 07506881 frs-core:CurrentFinancialInstruments 1 2024-07-31 07506881 frs-countries:EnglandWales 2023-08-01 2024-07-31 07506881 2022-07-31 07506881 2023-07-31 07506881 2022-08-01 2023-07-31 07506881 frs-core:CurrentFinancialInstruments 2023-07-31 07506881 frs-core:OtherReservesSubtotal 2023-07-31 07506881 frs-core:ShareCapital 2023-07-31 07506881 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 07506881 frs-core:CurrentFinancialInstruments 1 2023-07-31
Registered number: 07506881
DataTek Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07506881
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 547,499 519,781
547,499 519,781
CURRENT ASSETS
Stocks 5 134,438 142,400
Debtors 6 185,770 269,535
Cash at bank and in hand 496,814 220,955
817,022 632,890
Creditors: Amounts Falling Due Within One Year 7 (283,164 ) (265,690 )
NET CURRENT ASSETS (LIABILITIES) 533,858 367,200
TOTAL ASSETS LESS CURRENT LIABILITIES 1,081,357 886,981
PROVISIONS FOR LIABILITIES
Deferred Taxation (58,301 ) (30,359 )
NET ASSETS 1,023,056 856,622
CAPITAL AND RESERVES
Called up share capital 9 100 100
Other reserves 148,920 130,170
Profit and Loss Account 874,036 726,352
SHAREHOLDERS' FUNDS 1,023,056 856,622
Page 1
Page 2
For the year 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.
On behalf of the board
Mr Gregg David Ivers
Director
23/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
DataTek Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07506881 . The registered office is Jubilee House, East Beach, Lytham St.annes, FY8 5FT.
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.
Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due, this being supported by strong financial forecasts.
Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are showing within borrowings in current liabilities.
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. 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.
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 0%
Plant & Machinery 25%
Fixtures & Fittings 25%
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
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 constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement 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 and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
...CONTINUED
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2.5. Financial Instruments - continued
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors 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 measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6. Foreign Currencies
Monetary 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
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.
2.8. 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
Average number of employees, including directors, during the year was: 21 (2023: 22)
21 22
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 August 2023 475,000 68,520 46,612 590,132
Additions - 13,147 2,000 15,147
Revaluation 25,000 - - 25,000
As at 31 July 2024 500,000 81,667 48,612 630,279
...CONTINUED
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Page 5
Depreciation
As at 1 August 2023 - 37,341 33,010 70,351
Provided during the period - 8,799 3,630 12,429
As at 31 July 2024 - 46,140 36,640 82,780
Net Book Value
As at 31 July 2024 500,000 35,527 11,972 547,499
As at 1 August 2023 475,000 31,179 13,602 519,781
5. Stocks
2024 2023
£ £
Stock 134,438 142,400
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 64,879 77,831
Prepayments and accrued income 63,598 86,866
Other debtors 42,195 73,640
Tax 15,098 31,198
185,770 269,535
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 63,758 119,702
Corporation tax 146,454 106,604
Other taxes and social security 17,434 15,366
Other creditors 4,045 3,489
Accruals and deferred income 51,473 20,529
283,164 265,690
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2023 30,359 30,359
Deferred taxation 27,942 27,942
Balance at 31 July 2024 58,301 58,301
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
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10. Ultimate Controlling Party
The company's ultimate controlling party is Datatek Holdings Limited by virtue of his ownership of 100% of the issued share capital in the company.
Page 6