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Registered number: 07506404
Sentomol Limited
Financial Statements
For the Period 1 February 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07506404
31 March 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,906 10,330
Tangible Assets 5 58,553 73,420
61,459 83,750
CURRENT ASSETS
Stocks 6 77,178 80,752
Debtors 7 88,406 65,003
Cash at bank and in hand 121,065 107,622
286,649 253,377
Creditors: Amounts Falling Due Within One Year 8 (77,876 ) (76,221 )
NET CURRENT ASSETS (LIABILITIES) 208,773 177,156
TOTAL ASSETS LESS CURRENT LIABILITIES 270,232 260,906
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,638 ) (13,950 )
NET ASSETS 255,594 246,956
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 245,594 236,956
SHAREHOLDERS' FUNDS 255,594 246,956
Page 1
Page 2
For the period 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 David Loughlin
Director
14/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sentomol Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07506404 . The registered office is Glen House, St. Maughans, Monmouth, Monmouthshire, NP25 5QG.
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 .... years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.6. 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 33.33% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33.33% Reducing Balance
2.7. 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.
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2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. 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.
2.10. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill Other Development Costs Total
£ £ £ £
Cost
As at 1 February 2023 4,999 25,740 11,000 41,739
Additions - 610 - 610
As at 31 March 2024 4,999 26,350 11,000 42,349
Amortisation
As at 1 February 2023 1,917 18,493 10,999 31,409
Provided during the period 583 7,450 1 8,034
As at 31 March 2024 2,500 25,943 11,000 39,443
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 2,499 407 - 2,906
As at 1 February 2023 3,082 7,247 1 10,330
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 71,425 34,500 4,836 11,797 122,558
Additions 14,952 - 1,007 - 15,959
As at 31 March 2024 86,377 34,500 5,843 11,797 138,517
Depreciation
As at 1 February 2023 27,924 9,704 2,873 8,637 49,138
Provided during the period 21,685 7,232 692 1,217 30,826
As at 31 March 2024 49,609 16,936 3,565 9,854 79,964
Net Book Value
As at 31 March 2024 36,768 17,564 2,278 1,943 58,553
As at 1 February 2023 43,501 24,796 1,963 3,160 73,420
6. Stocks
31 March 2024 31 January 2023
£ £
Stock 77,178 80,752
7. Debtors
31 March 2024 31 January 2023
£ £
Due within one year
Trade debtors 71,357 53,915
Other debtors 17,049 11,088
88,406 65,003
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 January 2023
£ £
Trade creditors 58,175 65,402
Other creditors 7,536 6,565
Taxation and social security 12,165 4,254
77,876 76,221
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9. Share Capital
31 March 2024 31 January 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 6