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Registered number: 11333201
Staxson Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 11333201
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 280,927 2,875
280,927 2,875
CURRENT ASSETS
Stocks 5 986 -
Debtors 6 727,733 515,884
Cash at bank and in hand 348,114 555,013
1,076,833 1,070,897
Creditors: Amounts Falling Due Within One Year 7 (249,078 ) (195,338 )
NET CURRENT ASSETS (LIABILITIES) 827,755 875,559
TOTAL ASSETS LESS CURRENT LIABILITIES 1,108,682 878,434
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,830 ) -
NET ASSETS 1,103,852 878,434
CAPITAL AND RESERVES
Called up share capital 40 40
Revaluation reserve 13,283 -
Profit and Loss Account 1,090,529 878,394
SHAREHOLDERS' FUNDS 1,103,852 878,434
Page 1
Page 2
For the year ending 30 April 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
S Ingram
Director
11 October 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Staxson Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11333201 . The registered office is Unit 4 Castle Road, Glenmore Business Park, Sittingbourne, ME10 3FX.
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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost less accumulated depreciation and any accumulated impairment losses. 
Assets are then carried in the Balance Sheet using the following measurement basis:
  • Leasehold property - revalued to fair value
  • All other assets - depreciated historical cost
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 property 50 years straight line basis
Plant & Machinery 25% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 20% reducing balance basis
Computer Equipment 3 years straight line basis
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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 profit and loss account as incurred.
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. Financial Instruments
The company applies the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Basic financial assets and liabilities are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
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 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.
Page 4
Page 5
2.8. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Land & Property
Leasehold property Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 May 2023 - 350 11,500 -
Additions 238,391 2,967 22,225 2,818
Revaluation 11,609 - - -
As at 30 April 2024 250,000 3,317 33,725 2,818
Depreciation
As at 1 May 2023 - 350 8,625 -
Provided during the period 1,675 186 3,338 345
On revaluations (1,675 ) - - -
As at 30 April 2024 - 536 11,963 345
Net Book Value
As at 30 April 2024 250,000 2,781 21,762 2,473
As at 1 May 2023 - - 2,875 -
Computer Equipment Total
£ £
Cost or Valuation
As at 1 May 2023 700 12,550
Additions 4,596 270,997
Revaluation - 11,609
As at 30 April 2024 5,296 295,156
...CONTINUED
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Page 6
Depreciation
As at 1 May 2023 700 9,675
Provided during the period 685 6,229
On revaluations - (1,675 )
As at 30 April 2024 1,385 14,229
Net Book Value
As at 30 April 2024 3,911 280,927
As at 1 May 2023 - 2,875
Cost or valuation as at 30 April 2024 represented by:
Land & Property
Leasehold property Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
At cost - 3,317 33,725 2,818
At valuation 250,000 - - -
250,000 3,317 33,725 2,818
Computer Equipment Total
£ £
At cost 5,296 45,156
At valuation - 250,000
5,296 295,156
Leashold property was revalued by an independent valuer at 30 April 2024.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
Land & Property
Freehold
£
Cost 238,391
Accumulated depreciation and impairment 1,675
Carrying amount 236,716
Page 6
Page 7
5. Stocks
2024 2023
£ £
Stock 986 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 403,031 157,987
Other debtors 324,702 357,897
727,733 515,884
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 87,096 78,578
Other creditors 2,815 2,695
Taxation and social security 159,167 114,065
249,078 195,338
Page 7