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Registered number: 09267334
NICO BEAU GROUP LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Brooks & Partners Accountants Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 09267334
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,569 1,674
3,569 1,674
CURRENT ASSETS
Debtors 5 7,978 10,842
Investments 6 45,736 60,025
Cash at bank and in hand 8,614 30,542
62,328 101,409
Creditors: Amounts Falling Due Within One Year 7 (23,981 ) (11,564 )
NET CURRENT ASSETS (LIABILITIES) 38,347 89,845
TOTAL ASSETS LESS CURRENT LIABILITIES 41,916 91,519
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (763 ) (424 )
NET ASSETS 41,153 91,095
CAPITAL AND RESERVES
Called up share capital 9 20 20
Fair Value Reserve 12 3,253 1,806
Income Statement 37,880 89,269
SHAREHOLDERS' FUNDS 41,153 91,095
Page 1
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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 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 Income Statement.
On behalf of the board
S Myers
Director
16 September 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
NICO BEAU GROUP LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 09267334 . The registered office is 22 St Peter's Street, Stamford, Lincolnshire, PE9 2PF.
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 current asset investments and from the
rendering of services. Turnover is reduced for customer rebates and other similar allowances.
Sale of Investments
Turnover from the sale of current asset investments is recognised when the sale has completed and
proceeds have been received.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Plant & Machinery 25% straight line
Computer Equipment 25% straight line
2.4. Financial Instruments
The company has elected to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Basic financial assets and liabilities, including trade, other receivables and payables, cash, bank and loan
balances are initially recognised at transaction price.
Such assets and liabilities are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets and liabilities measured at amortised cost are assessed
for objective evidence of impairment.
If an asset or liability is impaired the impairment loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the asset’s or liability’s original effective interest
rate.The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been had the impairment not previously been recognised. The
impairment reversal is recognised in profit or loss.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or
joint ventures, are initially measured at fair value, which is normally the transaction price.
Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or
...CONTINUED
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2.4. Financial Instruments - continued
loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot
be measured reliably are measured at cost less impairment.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
2.6. 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.
2.7. Current Asset Investments
Investments in equity instruments which are intended to be traded within one year are held as current asset
investments.
Such assets are carried at fair value and the changes in fair value are recognised in profit or loss.
Current asset investments are derecognised when (a) the contractual rights to the cash flows from the asset
expire or are settled; or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another party; or (c) despite having retained some significant risks and rewards of ownership,
control of the asset has been transferred to another party who has the practical ability to unilaterally sell the
asset to an unrelated third party without imposing additional restrictions.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 1,090 858 1,948
Additions - 2,962 2,962
As at 31 December 2023 1,090 3,820 4,910
Depreciation
As at 1 January 2023 23 251 274
Provided during the period 272 795 1,067
As at 31 December 2023 295 1,046 1,341
Net Book Value
As at 31 December 2023 795 2,774 3,569
As at 1 January 2023 1,067 607 1,674
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,080 -
Prepayments and accrued income 83 173
Other debtors 815 293
Corporation tax recoverable assets - 165
VAT - 218
Director's loan account - 9,993
7,978 10,842
6. Current Asset Investments
2023 2022
£ £
Listed investments 45,736 60,025
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 14,903 9,974
VAT 7,355 -
Accruals and deferred income 1,590 1,590
Director's loan account 133 -
23,981 11,564
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 763 424
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 20 20
10. 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 Steven Myers 9,993 - 9,993 - -
The above loan is unsecured, interest free and repayable on demand.
11. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 10,000 15,500
Final dividend paid 64,000 20,120
74,000 35,620
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12. Reserves
Fair Value Reserve
£
As at 1 January 2023 1,806
Movements in fair value reserve 1,447
As at 31 December 2023 3,253
Page 7