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 10389504 Mrs Ingeborg Moore Mr Nathan Hutchins iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10389504 2022-12-31 10389504 2023-12-31 10389504 2023-01-01 2023-12-31 10389504 frs-core:CurrentFinancialInstruments 2023-12-31 10389504 frs-core:Non-currentFinancialInstruments 2023-12-31 10389504 frs-core:BetweenOneFiveYears 2023-12-31 10389504 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 10389504 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10389504 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 10389504 frs-core:MotorVehicles 2023-12-31 10389504 frs-core:MotorVehicles 2023-01-01 2023-12-31 10389504 frs-core:MotorVehicles 2022-12-31 10389504 frs-core:PlantMachinery 2023-12-31 10389504 frs-core:PlantMachinery 2023-01-01 2023-12-31 10389504 frs-core:PlantMachinery 2022-12-31 10389504 frs-core:WithinOneYear 2023-12-31 10389504 frs-core:CapitalRedemptionReserve 2023-12-31 10389504 frs-core:ShareCapital 2023-12-31 10389504 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10389504 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10389504 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10389504 frs-bus:SmallEntities 2023-01-01 2023-12-31 10389504 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10389504 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10389504 frs-bus:Director1 2023-01-01 2023-12-31 10389504 frs-bus:Director2 2023-01-01 2023-12-31 10389504 frs-bus:Director2 2022-12-31 10389504 frs-bus:Director2 2023-12-31 10389504 frs-countries:EnglandWales 2023-01-01 2023-12-31 10389504 2021-12-31 10389504 2022-12-31 10389504 2022-01-01 2022-12-31 10389504 frs-core:CurrentFinancialInstruments 2022-12-31 10389504 frs-core:Non-currentFinancialInstruments 2022-12-31 10389504 frs-core:BetweenOneFiveYears 2022-12-31 10389504 frs-core:MotorVehicles 2022-01-01 2022-12-31 10389504 frs-core:WithinOneYear 2022-12-31 10389504 frs-core:CapitalRedemptionReserve 2022-12-31 10389504 frs-core:ShareCapital 2022-12-31 10389504 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 10389504
Muza Lab Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
EOACC Ltd
Collingham House
10-12 Gladstone Road
London
SW19 1QT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10389504
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,933 118,507
82,933 118,507
CURRENT ASSETS
Debtors 5 3,623,961 3,002,165
Cash at bank and in hand 1,744,063 1,879,613
5,368,024 4,881,778
Creditors: Amounts Falling Due Within One Year 6 (197,661 ) (178,377 )
NET CURRENT ASSETS (LIABILITIES) 5,170,363 4,703,401
TOTAL ASSETS LESS CURRENT LIABILITIES 5,253,296 4,821,908
Creditors: Amounts Falling Due After More Than One Year 7 (21,907 ) (25,885 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,928 ) (18,704 )
NET ASSETS 5,218,461 4,777,319
CAPITAL AND RESERVES
Called up share capital 9 30 30
Capital redemption reserve 70 70
Profit and Loss Account 5,218,361 4,777,219
SHAREHOLDERS' FUNDS 5,218,461 4,777,319
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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
Mrs Ingeborg Moore
Director
27/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Muza Lab Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10389504 . The registered office is 9 Ledbury Mews North, London, W11 2AF.
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:
Leasehold Over the period of the lease
Plant & Machinery 15 - 33% straight line
Motor Vehicles 20% 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. 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.
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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 year 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 asset reflects 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.
2.7. 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: 18 (2022: 16)
18 16
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2023 35,754 217,828 35,488 289,070
Additions 2,860 7,547 - 10,407
Disposals (7,070 ) (54,067 ) - (61,137 )
As at 31 December 2023 31,544 171,308 35,488 238,340
Depreciation
As at 1 January 2023 8,841 159,855 1,867 170,563
Provided during the period 3,434 24,274 7,097 34,805
Disposals (707 ) (49,254 ) - (49,961 )
As at 31 December 2023 11,568 134,875 8,964 155,407
Net Book Value
As at 31 December 2023 19,976 36,433 26,524 82,933
As at 1 January 2023 26,913 57,973 33,621 118,507
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 26,524 33,621
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,911,694 1,910,547
Prepayments and accrued income 62,636 57,582
Other debtors - 265,201
Corporation tax recoverable assets - 77,498
Other taxes and social security 371 -
Directors' loan accounts 333,695 674,562
Amounts owed by associates 1,315,565 16,775
3,623,961 3,002,165
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,978 3,714
Trade creditors 45,031 86,118
Corporation tax 105,595 -
Other taxes and social security - 269
Other creditors 27,890 72,860
Accruals and deferred income 7,312 7,729
Directors' loan accounts 7,855 7,687
197,661 178,377
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 21,907 25,885
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,978 3,714
Later than one year and not later than five years 21,907 25,885
25,885 29,599
25,885 29,599
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30 30
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 113,636 125,000
Later than one year and not later than five years 185,127 298,763
298,763 423,763
11. 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 Nathan Hutchins 674,562 333,695 674,562 - 333,695
Loans to directors are repayable on demand, and subject to interest at the prescribed HMRC beneficial loan interest rates.
Dividends paid to directors
2023 2022
£ £
Mrs Ingeborg Moore 264,000 242,000
Mr Nathan Hutchins 264,000 242,000
12. Related Party Transactions
At the year end the company was owed £1,315,565 (2022: £16,775) from LMN Studio Ltd, a company controlled by Nathan Hutchins and Ingeborg Moore.
The company owed £7,855 (2022: £7,687) at year end to Ingeborg Moore.
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