Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 29 December 2023 29 December 2023 11732968 Mr Ian Hambleton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11732968 2022-12-31 11732968 2023-12-29 11732968 2023-01-01 2023-12-29 11732968 frs-core:CurrentFinancialInstruments 2023-12-29 11732968 frs-core:FurnitureFittings 2023-12-29 11732968 frs-core:FurnitureFittings 2023-01-01 2023-12-29 11732968 frs-core:FurnitureFittings 2022-12-31 11732968 frs-core:InvestmentPropertyIncludedWithinPPE 2023-12-29 11732968 frs-core:InvestmentPropertyIncludedWithinPPE 2022-12-31 11732968 frs-core:MotorVehicles 2023-12-29 11732968 frs-core:MotorVehicles 2023-01-01 2023-12-29 11732968 frs-core:MotorVehicles 2022-12-31 11732968 frs-core:ShareCapital 2023-12-29 11732968 frs-core:RetainedEarningsAccumulatedLosses 2023-12-29 11732968 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-29 11732968 frs-bus:FilletedAccounts 2023-01-01 2023-12-29 11732968 frs-bus:SmallEntities 2023-01-01 2023-12-29 11732968 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-29 11732968 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-29 11732968 frs-bus:Director1 2023-01-01 2023-12-29 11732968 1 2023-01-01 2023-12-29 11732968 frs-countries:EnglandWales 2023-01-01 2023-12-29 11732968 2021-12-31 11732968 2022-12-31 11732968 2022-01-01 2022-12-31 11732968 frs-core:CurrentFinancialInstruments 2022-12-31 11732968 frs-core:ShareCapital 2022-12-31 11732968 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11732968 1 2022-01-01 2022-12-31
Registered number: 11732968
Network Effect Consulting Ltd
Unaudited Financial Statements
For The Year Ended 29 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11732968
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 369,284 378,228
369,284 378,228
CURRENT ASSETS
Debtors 4 88,784 63,037
Cash at bank and in hand 1,194 25,125
89,978 88,162
Creditors: Amounts Falling Due Within One Year 5 (447,811 ) (417,363 )
NET CURRENT ASSETS (LIABILITIES) (357,833 ) (329,201 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,451 49,027
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,000 ) (7,000 )
NET ASSETS 4,451 42,027
CAPITAL AND RESERVES
Called up share capital 1,120 1,120
Profit and Loss Account 3,331 40,907
SHAREHOLDERS' FUNDS 4,451 42,027
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For the year ending 29 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 Profit and Loss Account.
On behalf of the board
Mr Ian Hambleton
Director
11 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover is measured at the fair value of the consideration received, net of discounts and value added taxes. Turnover is recognised at the point of invoice.
1.3. 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:
Motor vehicles 25% reducing balance
Fixtures & fittings 20% straight line
1.4. Investment Properties
All investment properties are carried at fair value determined annually. The directors determine the value based on recent market transactions. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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.
...CONTINUED
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1.5. Taxation - continued
Deferred tax 
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.
Deferred tax is only adjusted if the change in the timing difference is material.
2. Average Number of Employees
2023 2022
Average number of employees, including directors, during the year 1 1
1 1
3. Tangible Assets
Investment properties Motor vehicles Fixtures & fittings Total
£ £ £ £
Cost
As at 1 January 2023 343,378 45,850 14,819 404,047
As at 29 December 2023 343,378 45,850 14,819 404,047
Depreciation
As at 1 January 2023 - 21,926 3,893 25,819
Provided during the period - 5,981 2,963 8,944
As at 29 December 2023 - 27,907 6,856 34,763
Net Book Value
As at 29 December 2023 343,378 17,943 7,963 369,284
As at 1 January 2023 343,378 23,924 10,926 378,228
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4. Debtors
2023 2022
£ £
Due within one year
Amounts owed by participating interests 24,163 37,158
Other debtors 64,621 25,879
88,784 63,037
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 444,513 414,082
Taxation and social security 3,298 3,281
447,811 417,363
6. Related Party Transactions
The total amount owed from associated companies is £24,163 (2022: £37,158) as at 31.12.2023.
7. General Information
Network Effect Consulting Ltd is a private company, limited by shares, incorporated in England & Wales, the registered number is 11732968 . The registered office is 10 Brooklyn Drive, Emmer Green, Reading, Berkshire, England, RG4 8SS.
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