Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07579109 Mr Iain Colin Macrae Mr Michael Gerard McFall Mr Stewart Cameron Mr Kevin Elliott Barton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07579109 2023-03-31 07579109 2024-03-31 07579109 2023-04-01 2024-03-31 07579109 frs-core:CurrentFinancialInstruments 2024-03-31 07579109 frs-core:Non-currentFinancialInstruments 2024-03-31 07579109 frs-core:ComputerEquipment 2024-03-31 07579109 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07579109 frs-core:ComputerEquipment 2023-03-31 07579109 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 07579109 frs-core:FurnitureFittings 2024-03-31 07579109 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07579109 frs-core:FurnitureFittings 2023-03-31 07579109 frs-core:OtherResidualIntangibleAssets 2024-03-31 07579109 frs-core:OtherResidualIntangibleAssets 2023-03-31 07579109 frs-core:PlantMachinery 2024-03-31 07579109 frs-core:PlantMachinery 2023-04-01 2024-03-31 07579109 frs-core:PlantMachinery 2023-03-31 07579109 frs-core:OtherReservesSubtotal 2024-03-31 07579109 frs-core:SharePremium 2024-03-31 07579109 frs-core:ShareCapital 2024-03-31 07579109 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07579109 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07579109 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07579109 frs-bus:SmallEntities 2023-04-01 2024-03-31 07579109 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07579109 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07579109 frs-bus:Director1 2023-04-01 2024-03-31 07579109 frs-bus:Director2 2023-04-01 2024-03-31 07579109 frs-bus:Director3 2023-04-01 2024-03-31 07579109 frs-bus:Director4 2023-04-01 2024-03-31 07579109 frs-countries:EnglandWales 2023-04-01 2024-03-31 07579109 2022-03-31 07579109 2023-03-31 07579109 2022-04-01 2023-03-31 07579109 frs-core:CurrentFinancialInstruments 2023-03-31 07579109 frs-core:Non-currentFinancialInstruments 2023-03-31 07579109 frs-core:OtherReservesSubtotal 2023-03-31 07579109 frs-core:SharePremium 2023-03-31 07579109 frs-core:ShareCapital 2023-03-31 07579109 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07579109
PanicGuard Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Approved Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07579109
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 11,654 17,773
11,654 17,773
CURRENT ASSETS
Debtors 6 519,486 771,364
Cash at bank and in hand 173,320 67,045
692,806 838,409
Creditors: Amounts Falling Due Within One Year 7 (665,022 ) (1,145,248 )
NET CURRENT ASSETS (LIABILITIES) 27,784 (306,839 )
TOTAL ASSETS LESS CURRENT LIABILITIES 39,438 (289,066 )
Creditors: Amounts Falling Due After More Than One Year 8 (12,500 ) (22,500 )
NET ASSETS/(LIABILITIES) 26,938 (311,566 )
CAPITAL AND RESERVES
Called up share capital 9 9,554 3,185
Share premium account 4,500,228 4,039,481
Other reserves 100,922 63,156
Profit and Loss Account (4,583,766 ) (4,417,388 )
SHAREHOLDERS' FUNDS 26,938 (311,566)
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For the year ending 31 March 2024 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 Kevin Elliott Barton
Director
26/09/2024
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
PanicGuard Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07579109 . The registered office is 33 Foley Street, London, England, W1W 7TL.
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 Directors have considered the financial position of the company, and are confident that the company will be able to meet its obligations in the next 12 months, and as such is a going concern. These financial statements have accordingly been prepared on that basis.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are initially measured at cost. It is amortised to profit and loss account over its estimated economic life of five years.
2.5. 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 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 20% on cost
2.6. Financial Instruments
Financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.
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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 9)
7 9
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 141,481
As at 31 March 2024 141,481
Amortisation
As at 1 April 2023 141,481
As at 31 March 2024 141,481
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 31,760 30,323 14,637 76,720
Additions - - 383 383
As at 31 March 2024 31,760 30,323 15,020 77,103
Depreciation
As at 1 April 2023 25,334 23,532 10,081 58,947
Provided during the period 2,267 2,755 1,480 6,502
As at 31 March 2024 27,601 26,287 11,561 65,449
Net Book Value
As at 31 March 2024 4,159 4,036 3,459 11,654
As at 1 April 2023 6,426 6,791 4,556 17,773
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 499,668 552,889
Prepayments and accrued income 19,806 33,732
Other debtors 12 134
Corporation tax recoverable assets - 184,609
519,486 771,364
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,943 70,222
Bank loans and overdrafts 16,250 31,616
Other taxes and social security 14,938 124,931
VAT 61,678 91,524
Net wages - 45
Other creditors 14,713 72,991
Accruals and deferred income 533,500 714,175
Directors' loan accounts - 39,744
665,022 1,145,248
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 9,554 3,185
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