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Registered number: 03734519
Brookwood Accountancy Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Brookwood Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03734519
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 56,250 62,500
Tangible Assets 5 4,183 19,384
60,433 81,884
CURRENT ASSETS
Stocks 6 48,777 68,550
Debtors 7 62,665 128,271
Cash at bank and in hand 47,126 14,307
158,568 211,128
Creditors: Amounts Falling Due Within One Year 8 (125,795 ) (214,261 )
NET CURRENT ASSETS (LIABILITIES) 32,773 (3,133 )
TOTAL ASSETS LESS CURRENT LIABILITIES 93,206 78,751
Creditors: Amounts Falling Due After More Than One Year 9 (12,628 ) (28,130 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (794 ) (3,682 )
NET ASSETS 79,784 46,939
CAPITAL AND RESERVES
Called up share capital 11 400 400
Profit and Loss Account 79,384 46,539
SHAREHOLDERS' FUNDS 79,784 46,939
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Roger Farrell
Director
24/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Brookwood Accountancy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03734519 . The registered office is The Old Post Office, 19 Banbury Road, Kidlington, OX5 1AQ.
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 20 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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 3 years straight line
2.5. 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.
2.6. 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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2.7. 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.
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
Average number of employees, including directors, during the year was: 13 (2023: 13)
13 13
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 325,000
As at 30 September 2024 325,000
Amortisation
As at 1 October 2023 262,500
Provided during the period 6,250
As at 30 September 2024 268,750
Net Book Value
As at 30 September 2024 56,250
As at 1 October 2023 62,500
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 49,702 23,843 29,342 102,887
Additions - - 1,388 1,388
Disposals - (23,843 ) - (23,843 )
As at 30 September 2024 49,702 - 30,730 80,432
...CONTINUED
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Page 5
Depreciation
As at 1 October 2023 47,636 10,431 25,436 83,503
Provided during the period 516 (10,431 ) 2,661 (7,254 )
As at 30 September 2024 48,152 - 28,097 76,249
Net Book Value
As at 30 September 2024 1,550 - 2,633 4,183
As at 1 October 2023 2,066 13,412 3,906 19,384
6. Stocks
2024 2023
£ £
Work in progress 48,777 68,550
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 39,445 38,621
Prepayments and accrued income 8,996 9,119
Other debtors - 5,979
S455 Receivable 14,224 14,224
Director's loan account - 60,328
62,665 128,271
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,502 5,502
Trade creditors 8,202 21,369
Bank loans and overdrafts 10,000 49,664
Corporation tax 36,355 32,233
Other taxes and social security 9,154 26,710
VAT 18,041 37,198
Other creditors 29,960 31,625
Accruals and deferred income 8,096 9,960
Director's loan account 485 -
125,795 214,261
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,961 11,463
Bank loans 6,667 16,667
12,628 28,130
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,502 5,502
Later than one year and not later than five years 5,961 11,463
11,463 16,965
11,463 16,965
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400 400
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2023 Amounts advanced Amounts repaid Amounts written off As at 30 September 2024
£ £ £ £ £
Mr Roger Farrell 60,328 - 60,328 - -
The above loan is unsecured, interest free and repayable on demand.
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