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Registered number: 07271697
Popcorn Outdoor Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 07271697
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 18,277 37,661
Tangible Assets 5 61,211 129,529
79,488 167,190
CURRENT ASSETS
Debtors 6 337,261 409,530
Cash at bank and in hand - 636
337,261 410,166
Creditors: Amounts Falling Due Within One Year 7 (1,182,903 ) (767,777 )
NET CURRENT ASSETS (LIABILITIES) (845,642 ) (357,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES (766,154 ) (190,421 )
Creditors: Amounts Falling Due After More Than One Year 8 (179,663 ) (291,483 )
NET LIABILITIES (945,817 ) (481,904 )
CAPITAL AND RESERVES
Called up share capital 9 11,500 11,500
Share premium account 165,500 165,500
Profit and Loss Account (1,122,817 ) (658,904 )
SHAREHOLDERS' FUNDS (945,817) (481,904)
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 P M Carr
Director
6 September 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 January 2022 11,500 165,500 (490,604 ) (313,604)
Loss for the year and total comprehensive income - - (168,300 ) (168,300)
As at 31 December 2022 and 1 January 2023 11,500 165,500 (658,904 ) (481,904)
Loss for the year and total comprehensive income - - (463,913 ) (463,913)
As at 31 December 2023 11,500 165,500 (1,122,817 ) (945,817)
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Page 4
Notes to the Financial Statements
1. General Information
Popcorn Outdoor Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07271697 . The registered office is 1st Floor 97 Charlotte Street, London, W1T 4QA.

The presentation currency of the financial statements is the Pound Sterling (£).
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. Going Concern Disclosure
Whilst the business has been loss making in the financial year, the Directors regularly review the cash position and forecast and believe there is sufficient funds to pay liabilities as they fall due. As such, the Directors agree the going concern basis is the appropriate method to prepare these financial statements.
2.3. Significant judgements and estimations
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company accounting policies.
2.4. 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.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years 
2.6. 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 Straight line over 4 years
Computer Equipment Straight line over 4 years
2.7. Leasing and Hire Purchase Contracts
Assets acquired under hire purchase contracts are included in tangible fixed assets are depreciated over their estimated useful lives. The obligations net of future charges are included in creditors.

Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective rate of interest method. So as to achieve a constant rate of interest on the remaining balance of the liabilities. Finance charges are deducted and charged to the profit and loss when they are incurred.
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2.8. 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 consitutes a financing transaction, where the transaction is measured at the present value if the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements 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, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitute and financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditor 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 at amortised cost using the effective interest method.
2.9. 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.
2.10. 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.
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2.11. 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: 10 (2022: 9)
10 9
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 96,923
As at 31 December 2023 96,923
Amortisation
As at 1 January 2023 59,262
Provided during the period 19,384
As at 31 December 2023 78,646
Net Book Value
As at 31 December 2023 18,277
As at 1 January 2023 37,661
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 612,980 26,096 639,076
Additions 34,623 2,499 37,122
Disposals (63,140 ) - (63,140 )
As at 31 December 2023 584,463 28,595 613,058
Depreciation
As at 1 January 2023 493,341 16,206 509,547
Provided during the period 47,245 4,337 51,582
Disposals (9,282 ) - (9,282 )
As at 31 December 2023 531,304 20,543 551,847
Net Book Value
As at 31 December 2023 53,159 8,052 61,211
As at 1 January 2023 119,639 9,890 129,529
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 299,159 253,609
Other debtors 38,102 155,921
337,261 409,530
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 412,294 186,327
Bank loans and overdrafts 45,823 115,398
Other creditors 665,827 370,499
Taxation and social security 58,959 95,553
1,182,903 767,777
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 179,663 291,483
179,663 291,483
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 11,500 11,500
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Paul Carr 29,770 - (29,770 ) - -
Gordon Moore 66,668 - (66,668 ) - -
11. Related Party Transactions
At the balance sheet date, the amount due from the company to G J Moore is £245,656. The loan accrues interest at 15% and is repayable on demand. 
At the balance sheet date, the amount due from the company to P M Carr is £8,391. The loan is interest free and repayable on demand.
12. Ultimate Controlling Party
The Company is jointly controlled by Mr Bradley Carr, Mr Paul Michael Carr and Mr Gordon Moore by virtue of ownership of 30% each of the issued share capital in the Company.
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