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Registered number: 04526120
Grovewise Consultants Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04526120
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 509,281 583,556
509,281 583,556
CURRENT ASSETS
Debtors 6 212,625 188,806
Cash at bank and in hand 82,333 158,052
294,958 346,858
Creditors: Amounts Falling Due Within One Year 7 (263,354 ) (261,069 )
NET CURRENT ASSETS (LIABILITIES) 31,604 85,789
TOTAL ASSETS LESS CURRENT LIABILITIES 540,885 669,345
Creditors: Amounts Falling Due After More Than One Year 8 (346,050 ) (383,639 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (124,359 ) (141,740 )
NET ASSETS 70,476 143,966
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 70,376 143,866
SHAREHOLDERS' FUNDS 70,476 143,966
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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 Howard Hodgson
Director
8 October 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
Grovewise Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04526120 . The registered office is 117 Commercial Road, Poole, Dorset, BH14 0JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pound sterling which is the functional currency of the company.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 the profit and loss account over its estimated economic life of 5 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:
Leasehold 25% straight line basis
Plant & Machinery 33% straight line basis and 10% reducing balance
Motor Vehicles 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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 the profit and loss account as incurred.
2.6. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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2.7. 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.
2.8. 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: 63 (2023: 81)
63 81
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 435,000
As at 31 March 2024 435,000
Amortisation
As at 1 April 2023 435,000
As at 31 March 2024 435,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 April 2023 18,967 567,268 98,911 685,146
As at 31 March 2024 18,967 567,268 98,911 685,146
Depreciation
As at 1 April 2023 2,371 78,613 20,606 101,590
Provided during the period 4,741 49,957 19,577 74,275
As at 31 March 2024 7,112 128,570 40,183 175,865
Net Book Value
As at 31 March 2024 11,855 438,698 58,728 509,281
As at 1 April 2023 16,596 488,655 78,305 583,556
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 196,761 176,763
Prepayments and accrued income 15,864 12,043
212,625 188,806
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 28,492 25,226
Trade creditors 16,760 17,155
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 120,423 130,633
Other creditors 84,979 75,123
Accruals and deferred income 2,700 2,932
263,354 261,069
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 332,717 360,306
Bank loans 13,333 23,333
346,050 383,639
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9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured against the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 361,210 385,532
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 12,000
- 12,000
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