Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 11082282 Mr Spencer Green Mrs Sacha Green iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11082282 2023-01-31 11082282 2024-01-31 11082282 2023-02-01 2024-01-31 11082282 frs-core:CurrentFinancialInstruments 2024-01-31 11082282 frs-core:FurnitureFittings 2024-01-31 11082282 frs-core:FurnitureFittings 2023-02-01 2024-01-31 11082282 frs-core:FurnitureFittings 2023-01-31 11082282 frs-core:NetGoodwill 2024-01-31 11082282 frs-core:NetGoodwill 2023-02-01 2024-01-31 11082282 frs-core:NetGoodwill 2023-01-31 11082282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-31 11082282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11082282 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-31 11082282 frs-core:PlantMachinery 2024-01-31 11082282 frs-core:PlantMachinery 2023-02-01 2024-01-31 11082282 frs-core:PlantMachinery 2023-01-31 11082282 frs-core:ShareCapital 2024-01-31 11082282 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11082282 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11082282 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11082282 frs-bus:SmallEntities 2023-02-01 2024-01-31 11082282 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11082282 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11082282 frs-bus:Director1 2023-02-01 2024-01-31 11082282 frs-bus:Director2 2023-02-01 2024-01-31 11082282 frs-countries:EnglandWales 2023-02-01 2024-01-31 11082282 2022-01-31 11082282 2023-01-31 11082282 2022-02-01 2023-01-31 11082282 frs-core:CurrentFinancialInstruments 2023-01-31 11082282 frs-core:ShareCapital 2023-01-31 11082282 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 11082282
Porthcurno Holdings Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Howards Accountants
Suite 17
Camborne Business Centre
Camborne
Conrwall
TR14 7DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11082282
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,400 6,750
Tangible Assets 5 420,072 417,950
425,472 424,700
CURRENT ASSETS
Stocks 6 1,627 2,398
Debtors 7 2,303 322
Cash at bank and in hand 22,473 139,143
26,403 141,863
Creditors: Amounts Falling Due Within One Year 8 (311,367 ) (417,974 )
NET CURRENT ASSETS (LIABILITIES) (284,964 ) (276,111 )
TOTAL ASSETS LESS CURRENT LIABILITIES 140,508 148,589
NET ASSETS 140,508 148,589
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 140,408 148,489
SHAREHOLDERS' FUNDS 140,508 148,589
Page 1
Page 2
For the year ending 31 January 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 Spencer Green
Director
10th October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Porthcurno Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11082282 . The registered office is Suite 17, Camborne Business Centre, Camborne, Conrwall, TR14 7DB.
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. 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 profit and loss account over its estimated economic life of 10 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:
Freehold N/A
Equipment & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 13,500
As at 31 January 2024 13,500
Amortisation
As at 1 February 2023 6,750
Provided during the period 1,350
As at 31 January 2024 8,100
Net Book Value
As at 31 January 2024 5,400
As at 1 February 2023 6,750
5. Tangible Assets
Land & Property
Freehold Equipment & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 411,011 30,730 10,942 452,683
Additions - - 4,415 4,415
As at 31 January 2024 411,011 30,730 15,357 457,098
Depreciation
As at 1 February 2023 - 24,021 10,712 34,733
Provided during the period - 1,359 934 2,293
As at 31 January 2024 - 25,380 11,646 37,026
Net Book Value
As at 31 January 2024 411,011 5,350 3,711 420,072
As at 1 February 2023 411,011 6,709 230 417,950
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Page 5
6. Stocks
2024 2023
£ £
Stock 1,627 2,398
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,303 322
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 3,500
Other creditors 311,270 411,517
Taxation and social security 97 2,957
311,367 417,974
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5