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Registered number: 13184803
Parker Smith Inclusion Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13184803
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,026 24,424
36,026 24,424
CURRENT ASSETS
Debtors 5 804,718 465,379
Cash at bank and in hand 235,457 10,720
1,040,175 476,099
Creditors: Amounts Falling Due Within One Year 6 (748,819 ) (381,776 )
NET CURRENT ASSETS (LIABILITIES) 291,356 94,323
TOTAL ASSETS LESS CURRENT LIABILITIES 327,382 118,747
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,007 ) (4,640 )
NET ASSETS 318,375 114,107
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 318,275 114,007
SHAREHOLDERS' FUNDS 318,375 114,107
Page 1
Page 2
For the year ending 29 February 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
Ms E A Pecheur
Director
Mr D P Ryan
Director
Mrs S Kelly
Director
19/09/2024
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
Parker Smith Inclusion Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13184803 . The registered office is Create Business Hub, 5 Rayleigh Road, Hutton, Brentwood, CM13 1AB.
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:
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
...CONTINUED
Page 3
Page 4
2.5. 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: 151 (2023: 60)
151 60
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 3,173 29,729 32,902
Additions 2,613 22,616 25,229
As at 29 February 2024 5,786 52,345 58,131
Depreciation
As at 1 March 2023 1,175 7,303 8,478
Provided during the period 1,211 12,416 13,627
As at 29 February 2024 2,386 19,719 22,105
Net Book Value
As at 29 February 2024 3,400 32,626 36,026
As at 1 March 2023 1,998 22,426 24,424
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 741,243 366,635
Other debtors 63,475 98,744
804,718 465,379
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,238 3,250
Other taxes and social security 631,540 295,166
Other creditors 76,294 72,755
Accruals and deferred income 23,747 10,605
748,819 381,776
Page 4
Page 5
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Ms Emilie Pecheur (14,513 ) 15,683 (500 ) - 670
Mr Darragh Ryan 4 14,269 - - 14,273
Mrs Sophie Kelly 1,270 21,668 (5,964 ) - 16,974
The above loans are unsecured, interest free and repayable on demand.
Page 5