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 08865960 Mr Adam Black Mr Matthew Hardcastle Mr Adam Black iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08865960 2023-01-31 08865960 2024-01-31 08865960 2023-02-01 2024-01-31 08865960 frs-core:CurrentFinancialInstruments 2024-01-31 08865960 frs-core:Non-currentFinancialInstruments 2024-01-31 08865960 frs-core:ComputerEquipment 2024-01-31 08865960 frs-core:ComputerEquipment 2023-02-01 2024-01-31 08865960 frs-core:ComputerEquipment 2023-01-31 08865960 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 08865960 frs-core:FurnitureFittings 2024-01-31 08865960 frs-core:FurnitureFittings 2023-02-01 2024-01-31 08865960 frs-core:FurnitureFittings 2023-01-31 08865960 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 08865960 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 08865960 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-31 08865960 frs-core:OtherResidualIntangibleAssets 2024-01-31 08865960 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 08865960 frs-core:OtherResidualIntangibleAssets 2023-01-31 08865960 frs-core:ShareCapital 2024-01-31 08865960 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 08865960 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08865960 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 08865960 frs-bus:SmallEntities 2023-02-01 2024-01-31 08865960 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08865960 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 08865960 frs-bus:Director1 2023-02-01 2024-01-31 08865960 frs-bus:Director1 2023-01-31 08865960 frs-bus:Director1 2024-01-31 08865960 frs-bus:Director2 2023-02-01 2024-01-31 08865960 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 08865960 frs-countries:EnglandWales 2023-02-01 2024-01-31 08865960 2022-01-31 08865960 2023-01-31 08865960 2022-02-01 2023-01-31 08865960 frs-core:CurrentFinancialInstruments 2023-01-31 08865960 frs-core:Non-currentFinancialInstruments 2023-01-31 08865960 frs-core:ShareCapital 2023-01-31 08865960 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 08865960 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-01-31
Registered number: 08865960
Black Sheep Corporation Limited
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08865960
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 57,209 19,583
Tangible Assets 5 105,776 152,074
162,985 171,657
CURRENT ASSETS
Stocks 6 67,413 70,652
Debtors 7 578,185 940,823
Cash at bank and in hand 365,356 412,936
1,010,954 1,424,411
Creditors: Amounts Falling Due Within One Year 8 (939,081 ) (995,480 )
NET CURRENT ASSETS (LIABILITIES) 71,873 428,931
TOTAL ASSETS LESS CURRENT LIABILITIES 234,858 600,588
Creditors: Amounts Falling Due After More Than One Year 9 (373,313 ) (482,260 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 - (7,001 )
NET (LIABILITIES)/ASSETS (138,455 ) 111,327
CAPITAL AND RESERVES
Called up share capital 11 70 70
Profit and Loss Account (138,525 ) 111,257
SHAREHOLDERS' FUNDS (138,455) 111,327
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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 Matthew Hardcastle
Director
15/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Black Sheep Corporation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08865960 . The registered office is 76 Queenstown Road, London, SW8 3RY.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 4 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:
Leasehold Straight Line over 4 years
Fixtures & Fittings Straight Line over 4 years
Computer Equipment Straight Line over 4 years
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. 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.
2.7. 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.
...CONTINUED
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2.7. 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 11)
14 11
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 20,000
Additions 52,975
As at 31 January 2024 72,975
Amortisation
As at 1 February 2023 417
Provided during the period 15,349
As at 31 January 2024 15,766
Net Book Value
As at 31 January 2024 57,209
As at 1 February 2023 19,583
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 159,204 17,459 18,765 195,428
Additions - 617 944 1,561
As at 31 January 2024 159,204 18,076 19,709 196,989
Depreciation
As at 1 February 2023 28,179 7,229 7,946 43,354
Provided during the period 39,801 3,961 4,097 47,859
As at 31 January 2024 67,980 11,190 12,043 91,213
...CONTINUED
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Net Book Value
As at 31 January 2024 91,224 6,886 7,666 105,776
As at 1 February 2023 131,025 10,230 10,819 152,074
6. Stocks
2024 2023
£ £
Finished goods 67,413 70,652
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 160,999 608,547
Prepayments and accrued income 41,886 36,819
Other debtors 375,300 245,457
Directors' loan accounts - 50,000
578,185 940,823
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 586,812 573,398
Other taxes and social security 17,921 17,736
VAT 100,871 119,104
Other creditors 114,729 1,449
Accruals and deferred income 118,748 283,793
939,081 995,480
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 138,660 448,123
Directors loan account 234,653 34,137
373,313 482,260
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances - 7,001
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 70 70
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12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Matthew Hardcastle 50,000 - 50,000 - -
The above loan was unsecured was repayable on demand. Interest was paid on the loan at 2%. The loan was fully repaid in March 2023. 
13. Related Party Transactions
As at 31 January 2024 the director, Mr A Black, was owed £Nil (2023 £34,137 ) by the company. The loan is unsecured and interest accrued on the loan, to the date of repayment, at 1.5%. 
As at 31 January 2024 the director, Mr M Hardcastle, was owed £234,653 (2023: £Nil) by the company. The loan is unsecured and interest is accruing on the loan at 1.5%. 
As at 31 January 2024 Mr O Black was owed £56,583 (2023: £155,763) by the company. As at 31 January 2024 Mr B Black was owed £56,583 (2023: £155,763) by the company. These loans are unsecured and interest is being paid on the loans at 5%. Both individuals are relatives of the director Mr A Black. 
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