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Registered number: 07520700
The Accountancy People Manchester Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
The Accountancy People Manchester Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 07520700
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 97,001 107,091
97,001 107,091
CURRENT ASSETS
Debtors 6 132,932 101,113
Cash at bank and in hand 51,690 59,929
184,622 161,042
Creditors: Amounts Falling Due Within One Year 7 (142,266 ) (120,519 )
NET CURRENT ASSETS (LIABILITIES) 42,356 40,523
TOTAL ASSETS LESS CURRENT LIABILITIES 139,357 147,614
NET ASSETS 139,357 147,614
CAPITAL AND RESERVES
Called up share capital 8 360 360
Profit and Loss Account 138,997 147,254
SHAREHOLDERS' FUNDS 139,357 147,614
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 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 Profit and Loss Account.
On behalf of the board
Mr James Sheard
Director
18 September 2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
The Accountancy People Manchester Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07520700 . The registered office is Phoenix House, 2 Huddersfield Road, Stalybridge, Cheshire, SK15 2QA.
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 arising on the acquisition of an entity represents the excess of the cost of acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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:
Leasehold 10% on cost
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.5. 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.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2022: 15)
16 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 114,730
As at 31 December 2023 114,730
Amortisation
As at 1 January 2023 114,730
As at 31 December 2023 114,730
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 121,318 56,279 177,597
Additions - 972 972
As at 31 December 2023 121,318 57,251 178,569
Depreciation
As at 1 January 2023 29,730 40,776 70,506
Provided during the period 6,931 4,131 11,062
As at 31 December 2023 36,661 44,907 81,568
Net Book Value
As at 31 December 2023 84,657 12,344 97,001
As at 1 January 2023 91,588 15,503 107,091
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 108,604 80,124
Prepayments and accrued income 22,846 18,630
Other debtors 1,482 2,359
132,932 101,113
Page 3
Page 4
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 18,981 20,760
Corporation tax 48,837 45,943
Other taxes and social security 7,955 1,458
VAT 44,870 37,970
Accruals and deferred income 21,623 14,388
142,266 120,519
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 360 360
9. Ultimate Controlling Party
The company is controlled by Mr J E Sheard and Mrs J Sheard by virtue of their interest in 89% of the issued share capital. 
The ultimate controlling part is Mr J E Sheard and Mrs J Sheard.
Page 4