Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 8 November 2022 false 1 April 2023 31 March 2024 31 March 2024 14469363 Mr James Morgan Mrs Isobel Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14469363 2023-03-31 14469363 2024-03-31 14469363 2023-04-01 2024-03-31 14469363 frs-core:CurrentFinancialInstruments 2024-03-31 14469363 frs-core:RevaluationReserve 2023-04-01 2024-03-31 14469363 frs-core:RevaluationReserve 2024-03-31 14469363 frs-core:ShareCapital 2024-03-31 14469363 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14469363 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14469363 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 14469363 frs-bus:SmallEntities 2023-04-01 2024-03-31 14469363 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14469363 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 14469363 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 14469363 frs-bus:OrdinaryShareClass1 2024-03-31 14469363 frs-core:DeferredTaxation 2023-04-01 2024-03-31 14469363 frs-core:DeferredTaxation 2024-03-31 14469363 frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-core:ListedExchangeTraded 2023-03-31 14469363 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-03-31 14469363 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-03-31 14469363 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-03-31 14469363 frs-bus:Director1 2023-04-01 2024-03-31 14469363 frs-bus:Director2 2023-04-01 2024-03-31 14469363 frs-countries:EnglandWales 2023-04-01 2024-03-31 14469363 2022-11-07 14469363 2023-03-31 14469363 2022-11-08 2023-03-31 14469363 frs-core:CurrentFinancialInstruments 2023-03-31 14469363 frs-core:RevaluationReserve 2023-03-31 14469363 frs-core:ShareCapital 2023-03-31 14469363 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 14469363 frs-bus:OrdinaryShareClass1 2022-11-08 2023-03-31
Registered number: 14469363
Elephant Foot Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Elephant Foot Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elephant Foot Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Elephant Foot Limited , as a body, in accordance with the terms of our engagement letter dated 15 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Elephant Foot Limited and state those matters that we have agreed to state to the directors of Elephant Foot Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elephant Foot Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Elephant Foot Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Elephant Foot Limited . You consider that Elephant Foot Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Elephant Foot Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17th October 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 14469363
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Investments 3 2,498,866 -
2,498,866 -
CURRENT ASSETS
Debtors 4 5 1
Cash at bank and in hand 1,423,875 -
1,423,880 1
Creditors: Amounts Falling Due Within One Year 5 (3,737,032 ) -
NET CURRENT ASSETS (LIABILITIES) (2,313,152 ) 1
TOTAL ASSETS LESS CURRENT LIABILITIES 185,714 1
PROVISIONS FOR LIABILITIES
Deferred Taxation (42,154 ) -
NET ASSETS 143,560 1
CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 172,980 -
Profit and Loss Account (29,421 ) -
SHAREHOLDERS' FUNDS 143,560 1
Page 2
Page 3
For the year 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 James Morgan
Director
17th October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
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. 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.
1.3. Investments
Investments are recognised initially at cost and subsequentially revalued based on the fair market value. Revaluation movements are recognised through the profit and loss account and within the revaluation reserve account.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
3. Investments
Listed
£
Cost
As at 1 April 2023 -
Additions 2,342,698
Disposals (16,812 )
Revaluations 172,980
As at 31 March 2024 2,498,866
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 2,498,866
As at 1 April 2023 -
Page 4
Page 5
4. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Other debtors 5 1
5 1
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Amounts owed to group undertakings 897 -
Other creditors 3,735,101 -
Taxation and social security 1,034 -
3,737,032 -
6. Provisions for Liabilities
Deferred Tax
£
Additions 42,154
Balance at 31 March 2024 42,154
7. Share Capital
31 March 2024 31 March 2023
£ £
Called Up Share Capital not Paid - 1
Called Up Share Capital has been paid up 1 -
Amount of Allotted, Called Up Share Capital 1 1
Value Number 31 March 2024 31 March 2023
Allotted and called up £ £ £
Ordinary Shares 0.01 100 1 1
8. Reserves
Revaluation Reserve
£
Transfer to profit and loss 172,980
As at 31 March 2024 172,980
9. General Information
Elephant Foot Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14469363 . The registered office is Unit 3 Buliding 2, The Colony, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.
Page 5