Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false false true 1 February 2023 31 January 2024 31 January 2024 13228604 Mr Mark Catterall Mr Iain Catterall Mrs Audrey Catterall Mrs Gillian Thompson 31 January 2024 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13228604 2024-01-31 13228604 2023-02-01 2024-01-31 13228604 frs-core:CurrentFinancialInstruments 2024-01-31 13228604 frs-core:ShareCapital 2024-01-31 13228604 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 13228604 frs-bus:ConsolidatedGroupCompanyAccounts 2023-02-01 2024-01-31 13228604 frs-bus:Director1 2023-02-01 2024-01-31 13228604 frs-bus:Consolidated 2023-01-31 13228604 frs-bus:Consolidated 2024-01-31 13228604 frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2024-01-31 13228604 frs-core:Non-currentFinancialInstruments frs-bus:Consolidated 2024-01-31 13228604 frs-core:BetweenOneFiveYears frs-bus:Consolidated 2024-01-31 13228604 frs-core:ComputerEquipment frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-core:FurnitureFittings frs-bus:Consolidated 2024-01-31 13228604 frs-core:FurnitureFittings frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-core:FurnitureFittings frs-bus:Consolidated 2023-01-31 13228604 frs-core:MotorVehicles frs-bus:Consolidated 2024-01-31 13228604 frs-core:MotorVehicles frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-core:MotorVehicles frs-bus:Consolidated 2023-01-31 13228604 frs-core:PlantMachinery frs-bus:Consolidated 2024-01-31 13228604 frs-core:PlantMachinery frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-core:PlantMachinery frs-bus:Consolidated 2023-01-31 13228604 frs-core:WithinOneYear frs-bus:Consolidated 2024-01-31 13228604 frs-core:ShareCapital frs-bus:Consolidated 2024-01-31 13228604 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2024-01-31 13228604 frs-bus:PrivateLimitedCompanyLtd frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:FilletedAccounts frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:SmallEntities frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:AuditExempt-NoAccountantsReport frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:SmallCompaniesRegimeForAccounts frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:Director1 frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:Director1 frs-bus:Consolidated 2023-01-31 13228604 frs-bus:Director1 frs-bus:Consolidated 2024-01-31 13228604 frs-bus:Director2 frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:Director3 frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-bus:Director4 frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 frs-countries:EnglandWales frs-bus:Consolidated 2023-02-01 2024-01-31 13228604 2022-01-31 13228604 2023-01-31 13228604 2022-02-01 2023-01-31 13228604 frs-core:CurrentFinancialInstruments 2023-01-31 13228604 frs-core:ShareCapital 2023-01-31 13228604 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 13228604 frs-bus:Consolidated 2023-01-31 13228604 frs-bus:Consolidated 2022-02-01 2023-01-31 13228604 frs-core:CurrentFinancialInstruments frs-bus:Consolidated 2023-01-31 13228604 frs-core:Non-currentFinancialInstruments frs-bus:Consolidated 2023-01-31 13228604 frs-core:BetweenOneFiveYears frs-bus:Consolidated 2023-01-31 13228604 frs-core:WithinOneYear frs-bus:Consolidated 2023-01-31 13228604 frs-core:ShareCapital frs-bus:Consolidated 2023-01-31 13228604 frs-core:RetainedEarningsAccumulatedLosses frs-bus:Consolidated 2023-01-31
Registered number: 13228604
Smart Media Group Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Directors' Report 1
Consolidated Profit and Loss Account 2
Consolidated Balance Sheet 3—4
Company Balance Sheet 5—6
Notes to the Financial Statements 7—11
Page 1
Directors' Report
The directors present their report and the financial statements for the year ended 31 January 2024.
Directors
The directors who held office during the year were as follows:
Mr Mark Catterall
Mr Iain Catterall
Mrs Audrey Catterall
Mrs Gillian Thompson
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Mark Catterall
Director
18th October 2024
Page 1
Page 2
Consolidated Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 6,701,225 6,269,914
Cost of sales (4,397,923 ) (4,048,773 )
GROSS PROFIT 2,303,302 2,221,141
Administrative expenses (2,239,479 ) (2,233,111 )
OPERATING PROFIT/(LOSS) 63,823 (11,970 )
(Loss)/profit on disposal of fixed assets (15,317 ) 14,182
Loss on disposal of current asset investments (700) -
Interest payable and similar charges (16,571 ) (36,604 )
PROFIT/(LOSS) BEFORE TAXATION 31,235 (34,392 )
Tax on Profit/(loss) 62,242 -
PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT 93,477 (34,392 )
The notes on pages 7 to 11 form part of these financial statements.
Page 2
Page 3
Consolidated Balance Sheet
Registered number: 13228604
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 832,108 857,310
832,108 857,310
CURRENT ASSETS
Stocks 5 159,159 268,475
Debtors 6 510,317 495,619
Investments 7 - 700
Cash at bank and in hand 18,604 32,466
688,080 797,260
Creditors: Amounts Falling Due Within One Year 8 (1,681,628 ) (1,833,140 )
NET CURRENT ASSETS (LIABILITIES) (993,548 ) (1,035,880 )
TOTAL ASSETS LESS CURRENT LIABILITIES (161,440 ) (178,570 )
Creditors: Amounts Falling Due After More Than One Year 9 (189,592 ) (265,939 )
NET LIABILITIES (351,032 ) (444,509 )
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account (352,032 ) (445,509 )
SHAREHOLDERS' FUNDS (351,032) (444,509)
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Page 4
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.
On behalf of the board
Mr Mark Catterall
Director
18th October 2024
The notes on pages 7 to 11 form part of these financial statements.
Page 4
Page 5
Company Balance Sheet
Registered number: 13228604
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 6 64,963 325
Investments 7 1,402 1,102
Cash at bank and in hand 3 16
66,368 1,443
Creditors: Amounts Falling Due Within One Year 8 (73,026 ) (2,401 )
NET CURRENT ASSETS (LIABILITIES) (6,658 ) (958 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,658 ) (958 )
NET LIABILITIES (6,658 ) (958 )
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account (7,658 ) (1,958 )
SHAREHOLDERS' FUNDS (6,658) (958)
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In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's loss for the year was £(5,700 ) (2023: £(618 ) loss).
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 Mark Catterall
Director
18th October 2024
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Smart Media Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13228604 . The registered office is Units 4&5 , Bensham Street, Boldon Colliery, Tyne & Wear, NE35 9LN.
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. Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 January 2024.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
2.3. Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
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2.4. 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.
2.5. 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 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.6. 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.
2.7. 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.
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 group'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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2.9. 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.
3. Average Number of Employees
Group
Average number of employees, including directors, during the year was: 21 (2023: 4)
Company
Average number of employees, including directors, during the year was: NIL (2023: NIL)
21 4
- -
4. Tangible Assets
Group
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2023 1,168,522 81,586 53,553 1,303,661
Additions 158,811 3,800 308 162,919
Disposals (148,228 ) (20,417 ) - (168,645 )
As at 31 January 2024 1,179,105 64,969 53,861 1,297,935
Depreciation
As at 1 February 2023 369,973 50,540 25,838 446,351
Provided during the period 87,645 7,276 7,006 101,927
Disposals (67,777 ) (14,674 ) - (82,451 )
As at 31 January 2024 389,841 43,142 32,844 465,827
Net Book Value
As at 31 January 2024 789,264 21,827 21,017 832,108
As at 1 February 2023 798,549 31,046 27,715 857,310
5. Stocks
2024 2023
£ £
Stock 159,159 268,475
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6. Debtors
Group Company
2024 2023 2024 2023
£ £ £ £
Due within one year
Trade debtors 265,516 373,654 - -
Amounts owed by group undertakings - - 64,638 -
Amounts owed by participating interests 100,000 340 - -
Other debtors 144,801 121,625 325 325
510,317 495,619 64,963 325
7. Current Asset Investments
Group Company
2024 2023 2024 2023
£ £ £ £
Shares in subsidiaries - 700 1,402 1,102
8. Creditors: Amounts Falling Due Within One Year
Group Company
2024 2023 2024 2023
£ £ £ £
Net obligations under finance lease and hire purchase contracts 73,887 33,704 - -
Trade creditors 1,127,562 1,108,066 - -
Bank loans and overdrafts 103,925 132,392 - -
Other loans 60,000 - 60,000 -
Amounts owed to group undertakings - 107,835 2,293 692
Amounts owed to participating interests 3,043 - - -
Other creditors 239,353 239,588 10,408 1,384
Taxation and social security 73,858 211,555 325 325
1,681,628 1,833,140 73,026 2,401
9. Creditors: Amounts Falling Due After More Than One Year
Group
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 54,064 -
Bank loans 135,528 265,939
189,592 265,939
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10. Obligations Under Finance Leases and Hire Purchase
Group
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 73,887 33,704
Later than one year and not later than five years 54,064 -
127,951 33,704
127,951 33,704
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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 Mark Catterall 41,946 20,209 - - 62,156
The above loan is unsecured, interest free and repayable on demand.
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