Acorah Software Products - Accounts Production 15.0.400 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09735991 Mr Angus Drummond Mr Jonathan Fortune Mr John McEwan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09735991 2022-12-31 09735991 2023-12-31 09735991 2023-01-01 2023-12-31 09735991 frs-core:CurrentFinancialInstruments 2023-12-31 09735991 frs-core:Non-currentFinancialInstruments 2023-12-31 09735991 frs-core:ComputerEquipment 2023-12-31 09735991 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09735991 frs-core:ComputerEquipment 2022-12-31 09735991 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09735991 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 09735991 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09735991 frs-core:FurnitureFittings 2023-12-31 09735991 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09735991 frs-core:FurnitureFittings 2022-12-31 09735991 frs-core:SharePremium 2023-12-31 09735991 frs-core:ShareCapital 2023-12-31 09735991 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09735991 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09735991 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09735991 frs-bus:SmallEntities 2023-01-01 2023-12-31 09735991 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09735991 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09735991 frs-bus:Director1 2023-01-01 2023-12-31 09735991 frs-bus:Director2 2023-01-01 2023-12-31 09735991 frs-bus:Director3 2023-01-01 2023-12-31 09735991 frs-countries:EnglandWales 2023-01-01 2023-12-31 09735991 2021-12-31 09735991 2022-12-31 09735991 2022-01-01 2022-12-31 09735991 frs-core:CurrentFinancialInstruments 2022-12-31 09735991 frs-core:Non-currentFinancialInstruments 2022-12-31 09735991 frs-core:SharePremium 2022-12-31 09735991 frs-core:ShareCapital 2022-12-31 09735991 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Limitless Travel Ltd
Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09735991
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,038,887 783,792
Tangible Assets 5 7,205 6,180
1,046,092 789,972
CURRENT ASSETS
Debtors 6 1,237,876 1,033,815
Cash at bank and in hand 68,883 5,457
1,306,759 1,039,272
Creditors: Amounts Falling Due Within One Year 7 (370,499 ) (339,240 )
NET CURRENT ASSETS (LIABILITIES) 936,260 700,032
TOTAL ASSETS LESS CURRENT LIABILITIES 1,982,352 1,490,004
Creditors: Amounts Falling Due After More Than One Year 8 (113,535 ) (139,792 )
NET ASSETS 1,868,817 1,350,212
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 2,061,384 1,515,625
Profit and Loss Account (192,568 ) (165,414 )
SHAREHOLDERS' FUNDS 1,868,817 1,350,212
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 Angus Drummond
Director
20 September 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
Limitless Travel Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09735991 . The registered office is 116 - 117 Custard Factor Gibb Street, Birmingham, B9 4AA.
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 is recognised when the service is booked.
2.3. Research and Development
Expenditure on research and development is capitalised and amortised over a period of 10 years.
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:
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current 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: 17 (2022: 17)
17 17
4. Intangible Assets
Development Costs
£
Cost
As at 1 January 2023 967,173
Additions 390,903
As at 31 December 2023 1,358,076
Amortisation
As at 1 January 2023 183,381
Provided during the period 135,808
As at 31 December 2023 319,189
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 1,038,887
As at 1 January 2023 783,792
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 4,667 13,128 17,795
Additions - 4,457 4,457
As at 31 December 2023 4,667 17,585 22,252
Depreciation
As at 1 January 2023 4,002 7,613 11,615
Provided during the period 248 3,184 3,432
As at 31 December 2023 4,250 10,797 15,047
Net Book Value
As at 31 December 2023 417 6,788 7,205
As at 1 January 2023 665 5,515 6,180
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,223,509 1,028,813
Prepayments and accrued income 14,367 4,521
Directors' loan accounts - 481
1,237,876 1,033,815
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 105,813 119,711
Bank loans and overdrafts 30,295 69,732
Other taxes and social security 130,466 64,236
VAT 62,244 10,498
Other creditors 41,681 72,421
Accruals and deferred income - 2,642
370,499 339,240
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 113,535 139,792
Page 4
Page 5
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 5