Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 08892020 Mr Liam King Dr Helen Taylor Mr Stephen Hale iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08892020 2023-02-28 08892020 2024-02-28 08892020 2023-03-01 2024-02-28 08892020 frs-core:CurrentFinancialInstruments 2024-02-28 08892020 frs-core:Non-currentFinancialInstruments 2024-02-28 08892020 frs-core:BetweenOneFiveYears 2024-02-28 08892020 frs-core:FurnitureFittings 2024-02-28 08892020 frs-core:FurnitureFittings 2023-03-01 2024-02-28 08892020 frs-core:FurnitureFittings 2023-02-28 08892020 frs-core:MotorVehicles 2024-02-28 08892020 frs-core:MotorVehicles 2023-03-01 2024-02-28 08892020 frs-core:MotorVehicles 2023-02-28 08892020 frs-core:WithinOneYear 2024-02-28 08892020 frs-core:SharePremium 2024-02-28 08892020 frs-core:ShareCapital 2024-02-28 08892020 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 08892020 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08892020 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 08892020 frs-bus:SmallEntities 2023-03-01 2024-02-28 08892020 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08892020 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 08892020 frs-bus:OrdinaryShareClass2 2023-03-01 2024-02-28 08892020 frs-bus:OrdinaryShareClass2 2024-02-28 08892020 frs-bus:OrdinaryShareClass3 2023-03-01 2024-02-28 08892020 frs-bus:OrdinaryShareClass3 2024-02-28 08892020 frs-bus:OrdinaryShareClass4 2023-03-01 2024-02-28 08892020 frs-bus:OrdinaryShareClass4 2024-02-28 08892020 frs-bus:Director1 2023-03-01 2024-02-28 08892020 frs-bus:Director2 2023-03-01 2024-02-28 08892020 frs-bus:Director3 2023-03-01 2024-02-28 08892020 frs-countries:EnglandWales 2023-03-01 2024-02-28 08892020 2022-02-28 08892020 2023-02-28 08892020 2022-03-01 2023-02-28 08892020 frs-core:CurrentFinancialInstruments 2023-02-28 08892020 frs-core:Non-currentFinancialInstruments 2023-02-28 08892020 frs-core:BetweenOneFiveYears 2023-02-28 08892020 frs-core:WithinOneYear 2023-02-28 08892020 frs-core:SharePremium 2023-02-28 08892020 frs-core:ShareCapital 2023-02-28 08892020 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 08892020 frs-bus:OrdinaryShareClass2 2022-03-01 2023-02-28 08892020 frs-bus:OrdinaryShareClass3 2022-03-01 2023-02-28 08892020 frs-bus:OrdinaryShareClass4 2022-03-01 2023-02-28
Registered number: 08892020
Lagom Strategy Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Nigel Ricks & Company Ltd
Chartered Accountants
42 Glebe Street
Loughborough
Leicestershire
LE11 1JR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08892020
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,416 48,673
35,416 48,673
CURRENT ASSETS
Debtors 5 12,637 155,906
Cash at bank and in hand 178,055 292,862
190,692 448,768
Creditors: Amounts Falling Due Within One Year 6 (74,084 ) (164,601 )
NET CURRENT ASSETS (LIABILITIES) 116,608 284,167
TOTAL ASSETS LESS CURRENT LIABILITIES 152,024 332,840
Creditors: Amounts Falling Due After More Than One Year 7 (26,388 ) (34,889 )
NET ASSETS 125,636 297,951
CAPITAL AND RESERVES
Called up share capital 9 149 149
Share premium account 15,600 15,600
Profit and Loss Account 109,887 282,202
SHAREHOLDERS' FUNDS 125,636 297,951
Page 1
Page 2
For the year ending 28 February 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
Dr Helen Taylor
Director
26th April 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
Lagom Strategy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08892020 . The registered office is 42 Glebe Street, Loughborough, Leicestershire, LE11 1JR.
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. 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 25% Straight Line
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. 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 year 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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Page 4
2.5. 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 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.
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:
2024 2023
Office and administration 8 9
8 9
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 55,474 37,471 92,945
Additions - 169 169
As at 28 February 2024 55,474 37,640 93,114
Depreciation
As at 1 March 2023 11,825 32,447 44,272
Provided during the period 10,912 2,514 13,426
As at 28 February 2024 22,737 34,961 57,698
Net Book Value
As at 28 February 2024 32,737 2,679 35,416
As at 1 March 2023 43,649 5,024 48,673
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 7,694 138,844
Prepayments and accrued income 4,943 17,062
12,637 155,906
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Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,501 8,501
Trade creditors 19 6,755
Corporation tax 18,007 72,216
Other taxes and social security 5,527 11,818
VAT 39,145 54,903
Accruals and deferred income 1,294 9,392
Directors' loan accounts 1,591 1,016
74,084 164,601
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 26,388 34,889
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,501 8,501
Later than one year and not later than five years 26,388 34,889
34,889 43,390
34,889 43,390
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
75 Ordinary A shares of £ 1.000 each 75 75
38 Ordinary B shares of £ 1.000 each 38 38
36 Ordinary C shares of £ 1.000 each 36 36
149 149
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