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 11531071 Mr Sigurd Aase Mr Julian Dudley-Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11531071 2022-12-31 11531071 2023-12-31 11531071 2023-01-01 2023-12-31 11531071 frs-core:CurrentFinancialInstruments 2023-12-31 11531071 frs-core:Non-currentFinancialInstruments 2023-12-31 11531071 frs-core:ComputerEquipment 2023-12-31 11531071 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11531071 frs-core:ComputerEquipment 2022-12-31 11531071 frs-core:FurnitureFittings 2023-12-31 11531071 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11531071 frs-core:FurnitureFittings 2022-12-31 11531071 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 11531071 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11531071 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 11531071 frs-core:PlantMachinery 2023-12-31 11531071 frs-core:PlantMachinery 2023-01-01 2023-12-31 11531071 frs-core:PlantMachinery 2022-12-31 11531071 frs-core:ShareCapital 2023-12-31 11531071 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11531071 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11531071 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11531071 frs-bus:SmallEntities 2023-01-01 2023-12-31 11531071 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11531071 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11531071 frs-bus:Director1 2023-01-01 2023-12-31 11531071 frs-bus:Director2 2023-01-01 2023-12-31 11531071 frs-countries:EnglandWales 2023-01-01 2023-12-31 11531071 2021-12-31 11531071 2022-12-31 11531071 2022-01-01 2022-12-31 11531071 frs-core:CurrentFinancialInstruments 2022-12-31 11531071 frs-core:Non-currentFinancialInstruments 2022-12-31 11531071 frs-core:ShareCapital 2022-12-31 11531071 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11531071
Smartech Management Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Watermill Accounting Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11531071
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 14,677 35,774
14,677 35,774
CURRENT ASSETS
Stocks 5 - 3,596
Debtors 6 706,033 574,269
Cash at bank and in hand 96,673 160,907
802,706 738,772
Creditors: Amounts Falling Due Within One Year 7 (55,697 ) (114,239 )
NET CURRENT ASSETS (LIABILITIES) 747,009 624,533
TOTAL ASSETS LESS CURRENT LIABILITIES 761,686 660,307
Creditors: Amounts Falling Due After More Than One Year 8 (172,992 ) (177,995 )
NET ASSETS 588,694 482,312
CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Profit and Loss Account 538,694 432,312
SHAREHOLDERS' FUNDS 588,694 482,312
Page 1
Page 2
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 Julian Dudley-Smith
Director
20/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Smartech Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11531071 . The registered office is Unit 8 Gransden Park, Potton Road, Abbotsley, St Neots, PE19 6TY.
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. 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 25% of Cost
Plant & Machinery 20% of Cost
Fixtures & Fittings 25% of Cost
Computer Equipment 33% of Cost
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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2022: 14)
14 14
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 27,940 55,898 60,661 29,962 174,461
Additions - - - 1,826 1,826
As at 31 December 2023 27,940 55,898 60,661 31,788 176,287
...CONTINUED
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Page 4
Depreciation
As at 1 January 2023 23,946 35,661 55,114 23,966 138,687
Provided during the period 3,994 11,179 5,547 2,203 22,923
As at 31 December 2023 27,940 46,840 60,661 26,169 161,610
Net Book Value
As at 31 December 2023 - 9,058 - 5,619 14,677
As at 1 January 2023 3,994 20,237 5,547 5,996 35,774
5. Stocks
2023 2022
£ £
Finished goods - 3,596
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 645,910 547,561
Prepayments and accrued income 14,977 -
VAT 45,146 26,708
706,033 574,269
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 35,536 69,429
Other taxes and social security - 43,044
Other creditors 4,049 (34 )
Accruals and deferred income 16,112 1,800
55,697 114,239
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other loans 172,992 177,995
172,992 177,995
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50,000 50,000
Page 4