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 06031868 Mr Alex Lidgate Mr Graham Fisher Mr Graham Fisher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06031868 2022-12-31 06031868 2023-12-31 06031868 2023-01-01 2023-12-31 06031868 frs-core:CurrentFinancialInstruments 2023-12-31 06031868 frs-core:Non-currentFinancialInstruments 2023-12-31 06031868 frs-core:BetweenOneFiveYears 2023-12-31 06031868 frs-core:FurnitureFittings 2023-12-31 06031868 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06031868 frs-core:FurnitureFittings 2022-12-31 06031868 frs-core:MotorVehicles 2023-12-31 06031868 frs-core:MotorVehicles 2023-01-01 2023-12-31 06031868 frs-core:MotorVehicles 2022-12-31 06031868 frs-core:WithinOneYear 2023-12-31 06031868 frs-core:ShareCapital 2023-12-31 06031868 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06031868 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06031868 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06031868 frs-bus:SmallEntities 2023-01-01 2023-12-31 06031868 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06031868 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06031868 frs-bus:Director1 2023-01-01 2023-12-31 06031868 frs-bus:Director2 2023-01-01 2023-12-31 06031868 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06031868 frs-core:CurrentFinancialInstruments 1 2023-12-31 06031868 frs-countries:EnglandWales 2023-01-01 2023-12-31 06031868 2021-12-31 06031868 2022-12-31 06031868 2022-01-01 2022-12-31 06031868 frs-core:CurrentFinancialInstruments 2022-12-31 06031868 frs-core:Non-currentFinancialInstruments 2022-12-31 06031868 frs-core:BetweenOneFiveYears 2022-12-31 06031868 frs-core:WithinOneYear 2022-12-31 06031868 frs-core:ShareCapital 2022-12-31 06031868 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 06031868 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 06031868
Flowrap Systems Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
TaxAssist Accountants
635 Bath Road
Slough
Berkshire
SL1 6AE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06031868
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 98,786 86,020
98,786 86,020
CURRENT ASSETS
Stocks 5 31,150 28,750
Debtors 6 89,422 168,227
Cash at bank and in hand 35,011 29,119
155,583 226,096
Creditors: Amounts Falling Due Within One Year 7 (142,050 ) (212,661 )
NET CURRENT ASSETS (LIABILITIES) 13,533 13,435
TOTAL ASSETS LESS CURRENT LIABILITIES 112,319 99,455
Creditors: Amounts Falling Due After More Than One Year 8 - (24,145 )
NET ASSETS 112,319 75,310
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 112,309 75,300
SHAREHOLDERS' FUNDS 112,319 75,310
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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 Graham Fisher
Director
24th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Flowrap Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06031868 . The registered office is 4 Arkwright Road, Bicester, Oxfordshire, OX26 4SU.
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:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25-50% 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. 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.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:4 4 (2022: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 158,860 76,297 235,157
Additions - 48,588 48,588
As at 31 December 2023 158,860 124,885 283,745
Depreciation
As at 1 January 2023 77,524 71,613 149,137
Provided during the period 16,267 19,555 35,822
As at 31 December 2023 93,791 91,168 184,959
Net Book Value
As at 31 December 2023 65,069 33,717 98,786
As at 1 January 2023 81,336 4,684 86,020
5. Stocks
2023 2022
£ £
Finished goods 31,150 28,750
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 73,822 152,627
Other debtors 15,600 15,600
89,422 168,227
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 25,487 32,220
Trade creditors 56,773 93,481
Corporation tax 45,312 45,636
Other taxes and social security 5,189 15,856
VAT 8,779 25,257
Other creditors (1) 299 -
Directors' loan accounts 211 211
142,050 212,661
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 24,145
- 24,145
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 25,487 32,220
Later than one year and not later than five years - 24,145
25,487 56,365
25,487 56,365
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
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