Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07173363 Mrs C Burton Mr R Burton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07173363 2023-03-31 07173363 2024-03-31 07173363 2023-04-01 2024-03-31 07173363 frs-core:ComputerEquipment 2024-03-31 07173363 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07173363 frs-core:ComputerEquipment 2023-03-31 07173363 frs-core:FurnitureFittings 2024-03-31 07173363 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07173363 frs-core:FurnitureFittings 2023-03-31 07173363 frs-core:ShareCapital 2024-03-31 07173363 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07173363 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07173363 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07173363 frs-bus:SmallEntities 2023-04-01 2024-03-31 07173363 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07173363 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07173363 frs-core:UnlistedNon-exchangeTraded 2024-03-31 07173363 frs-core:UnlistedNon-exchangeTraded 2023-03-31 07173363 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 07173363 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 07173363 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 07173363 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 07173363 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 07173363 frs-bus:Director1 2023-04-01 2024-03-31 07173363 frs-bus:Director2 2023-04-01 2024-03-31 07173363 frs-countries:EnglandWales 2023-04-01 2024-03-31 07173363 2022-03-31 07173363 2023-03-31 07173363 2022-04-01 2023-03-31 07173363 frs-core:CurrentFinancialInstruments 2023-03-31 07173363 frs-core:ShareCapital 2023-03-31 07173363 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07173363
R L Burton Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Southgate & Co LLP
55 Thorpe Drive
Attleborough
Norfolk
NR17 2HS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07173363
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 306 457
Investments 6 3,322,458 2,872,984
3,322,764 2,873,441
CURRENT ASSETS
Debtors 7 - 13,592
Cash at bank and in hand 494,372 575,745
494,372 589,337
Creditors: Amounts Falling Due Within One Year 8 (2,501 ) (16,566 )
NET CURRENT ASSETS (LIABILITIES) 491,871 572,771
TOTAL ASSETS LESS CURRENT LIABILITIES 3,814,635 3,446,212
PROVISIONS FOR LIABILITIES
Deferred Taxation (384,926 ) (207,021 )
NET ASSETS 3,429,709 3,239,191
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 3,419,709 3,229,191
SHAREHOLDERS' FUNDS 3,429,709 3,239,191
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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 R Burton
Director
26/08/2024
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
R L Burton Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07173363 . The registered office is Hillside The Common, Shotesham, Norwich, NR15 1YD.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Fixtures & Fittings - 25% reducing balance
Computer Equipment - 33% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
2.4. Foreign Currencies
Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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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 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: 2 (2023: 2)
2 2
4. Prior Period Adjustment
The comparative financial statements have been adjusted to reflect Deferred Tax liabilities in line with FRS102 Section 29 which was ommitted from the year ending 31st March 2023.
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 500 1,727 2,227
As at 31 March 2024 500 1,727 2,227
Depreciation
As at 1 April 2023 500 1,270 1,770
Provided during the period - 151 151
As at 31 March 2024 500 1,421 1,921
Net Book Value
As at 31 March 2024 - 306 306
As at 1 April 2023 - 457 457
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6. Investments
Unlisted
£
Cost
As at 1 April 2023 2,872,984
Revaluations 449,474
As at 31 March 2024 3,322,458
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 3,322,458
As at 1 April 2023 2,872,984
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. The company uses the following to  determine the market value in order of priority:
  • Active market price
  • Known transaction price
  • Any other valuation method
Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the profit and loss statement for the period.
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 13,592
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 2,501 1,620
Taxation and social security - 14,946
2,501 16,566
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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10. Financial Instruments
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 80,000 87,000
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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