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Registered number: 12341379
The SaaSy People Ltd
Unaudited Financial Statements
For the Period 1 December 2022 to 31 December 2023
Agile Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12341379
31 December 2023 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,116 48,568
Investments 5 83 -
27,199 48,568
CURRENT ASSETS
Debtors 6 255,298 171,977
Cash at bank and in hand 42,152 185,529
297,450 357,506
Creditors: Amounts Falling Due Within One Year 7 (158,780 ) (104,808 )
NET CURRENT ASSETS (LIABILITIES) 138,670 252,698
TOTAL ASSETS LESS CURRENT LIABILITIES 165,869 301,266
Creditors: Amounts Falling Due After More Than One Year 8 (20,578 ) (23,251 )
NET ASSETS 145,291 278,015
CAPITAL AND RESERVES
Called up share capital 9 137 136
Share premium account 82,451 44,954
Profit and Loss Account 62,703 232,925
SHAREHOLDERS' FUNDS 145,291 278,015
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For the period 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:
Mr R H Couchman
Director
26 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The SaaSy People Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12341379 . The registered office is 47 Cannon Street, Arca Building, Birmingham, West Midlands, B2 5EF.
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
The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.
2.3. Turnover
Turnover is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover from a contract to provide services is recognised in the period in which the services are provided.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. 
Depreciation is charged to profit or loss over the estimated useful lives as follows:
Plant & Machinery over 3 years on a straight line basis
Fixtures & Fittings over 3 years on a straight line basis
Computer Equipment over 3 years on a straight line basis
The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. 
Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred. 
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.
2.5. Leasing and Hire Purchase Contracts
Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.
Payments (excluding costs for services and insurance) made under operating leases are recognised in the profit and loss account on a straight-line basis over the term of the lease unless the payments to the lessor are structured to increase in line with expected general inflation; in which case the payments related to the structured increases are recognised as incurred. Lease incentives received are recognised in profit and loss over the term of the lease an an integral part of the total lease expenses.
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2.6. Financial Instruments
Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.
Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.
For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
2.7. 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.
2.8. 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.
2.9. Pensions
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.
2.10. Related party exemption
The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries within the group.
Preparation of consolidated financial statements
The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.
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3. Average Number of Employees
Average number of employees during the period was: 74 (2022: 80)
74 80
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 8,837 538 77,491 86,866
Additions - - 9,541 9,541
As at 31 December 2023 8,837 538 87,032 96,407
Depreciation
As at 1 December 2022 7,448 268 30,582 38,298
Provided during the period 1,389 194 29,410 30,993
As at 31 December 2023 8,837 462 59,992 69,291
Net Book Value
As at 31 December 2023 - 76 27,040 27,116
As at 1 December 2022 1,389 270 46,909 48,568
5. Investments
Unlisted
£
Cost
As at 1 December 2022 -
Additions 83
As at 31 December 2023 83
Provision
As at 1 December 2022 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 83
As at 1 December 2022 -
6. Debtors
31 December 2023 30 November 2022
£ £
Due within one year
Trade debtors 212,676 151,535
Other debtors 1,200 1,590
Corporation tax recoverable assets 17,468 17,468
Other taxes and social security - 1,384
Amounts owed by subsidiaries 23,954 -
255,298 171,977
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7. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 November 2022
£ £
Trade creditors 13,776 10,865
Bank loans and overdrafts 3,595 4,361
Other taxes and social security 12,356 -
VAT 52,503 16,762
Other creditors 75,800 72,820
Accruals and deferred income 750 -
158,780 104,808
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions amount to £5,992, (2022: £3,907) were due to the fund and included in Other Creditors.
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 30 November 2022
£ £
Bank loans 20,578 23,251
9. Share Capital
31 December 2023 30 November 2022
£ £
Allotted, Called up and fully paid 137 136
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2023 30 November 2022
£ £
Not later than one year 19,237 2,440
Later than one year and not later than five years 15,896 -
35,133 2,440
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