Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12653758 Mr C J Cromey-Hawke Mrs J L Cromey-Hawke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12653758 2023-03-31 12653758 2024-03-31 12653758 2023-04-01 2024-03-31 12653758 frs-core:CurrentFinancialInstruments 2024-03-31 12653758 frs-core:NetGoodwill 2024-03-31 12653758 frs-core:NetGoodwill 2023-04-01 2024-03-31 12653758 frs-core:NetGoodwill 2023-03-31 12653758 frs-core:MotorVehicles 2024-03-31 12653758 frs-core:MotorVehicles 2023-04-01 2024-03-31 12653758 frs-core:MotorVehicles 2023-03-31 12653758 frs-core:PlantMachinery 2024-03-31 12653758 frs-core:PlantMachinery 2023-04-01 2024-03-31 12653758 frs-core:PlantMachinery 2023-03-31 12653758 frs-core:ShareCapital 2024-03-31 12653758 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12653758 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12653758 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12653758 frs-bus:SmallEntities 2023-04-01 2024-03-31 12653758 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12653758 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12653758 frs-bus:Director1 2023-04-01 2024-03-31 12653758 frs-bus:Director2 2023-04-01 2024-03-31 12653758 frs-countries:EnglandWales 2023-04-01 2024-03-31 12653758 2022-03-31 12653758 2023-03-31 12653758 2022-04-01 2023-03-31 12653758 frs-core:CurrentFinancialInstruments 2023-03-31 12653758 frs-core:ShareCapital 2023-03-31 12653758 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12653758
Research and Management Services Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12653758
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,500 7,250
Tangible Assets 5 38,850 48,425
44,350 55,675
CURRENT ASSETS
Debtors 6 - 508
Cash at bank and in hand 1,839 3,134
1,839 3,642
Creditors: Amounts Falling Due Within One Year 7 (24,282 ) (40,471 )
NET CURRENT ASSETS (LIABILITIES) (22,443 ) (36,829 )
TOTAL ASSETS LESS CURRENT LIABILITIES 21,907 18,846
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,500 ) (9,250 )
NET ASSETS 14,407 9,596
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 14,397 9,586
SHAREHOLDERS' FUNDS 14,407 9,596
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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 C J Cromey-Hawke
Director
31 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Research and Management Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12653758 . The registered office is Longridge Cirencester Road, Minchinhampton, Stroud, GL6 9EQ.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised
evenly over its estimated useful life of seven 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:
Plant & Machinery 20% on reducing balance
Motor Vehicles 20% on reducing balance
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: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 12,000
As at 31 March 2024 12,000
Amortisation
As at 1 April 2023 4,750
Provided during the period 1,750
As at 31 March 2024 6,500
Net Book Value
As at 31 March 2024 5,500
As at 1 April 2023 7,250
Valued by R A Leslie & Co. LLP, Chartered Accountants.
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 682 85,260 85,942
As at 31 March 2024 682 85,260 85,942
Depreciation
As at 1 April 2023 257 37,260 37,517
Provided during the period 75 9,500 9,575
As at 31 March 2024 332 46,760 47,092
Net Book Value
As at 31 March 2024 350 38,500 38,850
As at 1 April 2023 425 48,000 48,425
6. Debtors
2024 2023
£ £
Due within one year
VAT - 508
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 3,844 2,547
VAT 10,929 -
Sundry creditors and accruals - 476
Directors' loan accounts 9,509 37,448
24,282 40,471
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
9. Related Party Transactions
Consultancy fees were received from two associated companies amounting to £47,638 (2023: £46,172), charged at normal commercial rates.
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