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 04395705 Miss Claire Delaney Mr Simon Rule Addition Corporate Services Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04395705 2022-12-31 04395705 2023-12-31 04395705 2023-01-01 2023-12-31 04395705 frs-core:CurrentFinancialInstruments 2023-12-31 04395705 frs-core:ComputerEquipment 2023-12-31 04395705 frs-core:ComputerEquipment 2023-01-01 2023-12-31 04395705 frs-core:ComputerEquipment 2022-12-31 04395705 frs-core:FurnitureFittings 2023-12-31 04395705 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04395705 frs-core:FurnitureFittings 2022-12-31 04395705 frs-core:NetGoodwill 2023-12-31 04395705 frs-core:NetGoodwill 2023-01-01 2023-12-31 04395705 frs-core:NetGoodwill 2022-12-31 04395705 frs-core:OtherResidualIntangibleAssets 2023-12-31 04395705 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 04395705 frs-core:OtherResidualIntangibleAssets 2022-12-31 04395705 frs-core:SharePremium 2023-12-31 04395705 frs-core:ShareCapital 2023-12-31 04395705 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04395705 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04395705 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04395705 frs-bus:SmallEntities 2023-01-01 2023-12-31 04395705 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04395705 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04395705 frs-bus:Director1 2023-01-01 2023-12-31 04395705 frs-bus:Director2 2023-01-01 2023-12-31 04395705 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 04395705 frs-countries:EnglandWales 2023-01-01 2023-12-31 04395705 2021-12-31 04395705 2022-12-31 04395705 2022-01-01 2022-12-31 04395705 frs-core:CurrentFinancialInstruments 2022-12-31 04395705 frs-core:SharePremium 2022-12-31 04395705 frs-core:ShareCapital 2022-12-31 04395705 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04395705
Place Group Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
The Regent Chapel Street
Penzance
Cornwall
TR18 4AE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04395705
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 146,236 153,991
Tangible Assets 5 25,568 20,006
171,804 173,997
CURRENT ASSETS
Debtors 6 1,092,523 766,057
Cash at bank and in hand 288,603 369,113
1,381,126 1,135,170
Creditors: Amounts Falling Due Within One Year 7 (506,805 ) (343,811 )
NET CURRENT ASSETS (LIABILITIES) 874,321 791,359
TOTAL ASSETS LESS CURRENT LIABILITIES 1,046,125 965,356
NET ASSETS 1,046,125 965,356
CAPITAL AND RESERVES
Called up share capital 8 3,634 3,634
Share premium account 139,221 139,221
Profit and Loss Account 903,270 822,501
SHAREHOLDERS' FUNDS 1,046,125 965,356
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
Miss Claire Delaney
Director
Mr Simon Rule
Director
26/09/2024
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
Place Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04395705 . The registered office is The Regent Chapel Street, Penzance, Cornwall, TR18 4AE.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 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 Reducing Balance 25%
Computer Equipment Reducing Balance 25%
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.
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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2022: 23)
26 23
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2023 32,900 217,365 250,265
As at 31 December 2023 32,900 217,365 250,265
Amortisation
As at 1 January 2023 29,995 66,279 96,274
Provided during the period - 7,755 7,755
As at 31 December 2023 29,995 74,034 104,029
Net Book Value
As at 31 December 2023 2,905 143,331 146,236
As at 1 January 2023 2,905 151,086 153,991
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 214,145 20,102 234,247
Additions - 12,047 12,047
As at 31 December 2023 214,145 32,149 246,294
Depreciation
As at 1 January 2023 209,299 4,942 214,241
Provided during the period 5,002 1,483 6,485
As at 31 December 2023 214,301 6,425 220,726
Net Book Value
As at 31 December 2023 (156 ) 25,724 25,568
As at 1 January 2023 4,846 15,160 20,006
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 891,279 725,570
Prepayments and accrued income 189,327 25,661
Sundry debtors 2,030 2,030
Directors' loan accounts 9,887 12,796
1,092,523 766,057
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 89,661 79,369
Corporation tax 141,692 69,808
Other taxes and social security 33,012 32,295
VAT 217,746 122,719
Net wages 4,329 167
Accruals and deferred income 20,365 31,640
Directors' loan accounts - 7,813
506,805 343,811
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3,634 3,634
Page 5