1 April 2023 false No description of principal activity Taxfiler 2024.5 05020731business:PrivateLimitedCompanyLtd2023-04-012024-03-31 050207312023-03-31 050207312023-04-012024-03-31 05020731business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 05020731business:AbridgedAccounts2023-04-012024-03-31 050207312024-03-31 050207312023-03-31 05020731core:WithinOneYear2024-03-31 05020731core:WithinOneYear2023-03-31 05020731core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 05020731core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 05020731core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 05020731core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 05020731core:PreviouslyStatedAmount2024-03-31 05020731core:PreviouslyStatedAmount2023-03-31 05020731business:SmallEntities2023-04-012024-03-31 05020731business:Director12023-04-012024-03-31 05020731countries:EnglandWales2023-04-012024-03-31 05020731business:RegisteredOffice2023-04-012024-03-31 05020731core:FurnitureFittings2023-04-012024-03-31 05020731core:ComputerEquipment2023-04-012024-03-31 050207312022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. 05020731 (England and Wales)
Appraisd Ltd Unaudited Accounts for the year ended 31 March 2024
Appraisd Ltd Unaudited Accounts Contents
Page
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Appraisd Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,474 
31,660 
Current assets
Debtors
540,238 
253,511 
Cash at bank and in hand
797,383 
953,903 
1,337,621 
1,207,414 
Creditors: amounts falling due within one year
(1,133,137)
(1,010,146)
Net current assets
204,484 
197,268 
Total assets less current liabilities
229,958 
228,928 
Provisions for liabilities
Deferred tax
(6,369)
(1,881)
Net assets
223,589 
227,047 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
223,588 
227,046 
Shareholders' funds
223,589 
227,047 
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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 October 2024 and were signed on its behalf by
R W J Walter Director Company Registration No. 05020731
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Appraisd Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Appraisd Ltd is a private company, limited by shares, registered in England and Wales, registration number 05020731. The registered office is Unit 16, Dove Commercial Centre, , 109 Bartholomew Road, London, England, NW5 2BJ, United Kingdom .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is from the rendering of software services. Invoices are raised in advance and treated as deferred income to then be recognised as turnover evenly over the service period.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Straight Line Basis
Computer equipment
25% Straight Line Basis
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Government grants are included within other income.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current taxation is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the Balance Sheet date.
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Appraisd Ltd Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade, debtors, creditors, loans from related parties and investments in ordinary shares. Short-term debtors are measured at transaction price, less any impairment.
Research and development
Expenditure on research and development is written off in the year in which it is incurred. Research and development tax credits are recognised on approval or settlement of the claim, as appropriate.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
61,156 
Additions
6,320 
Disposals
(14,894)
At 31 March 2024
52,582 
Depreciation
At 1 April 2023
29,496 
Charge for the year
11,132 
On disposals
(13,520)
At 31 March 2024
27,108 
Net book value
At 31 March 2024
25,474 
At 31 March 2023
31,660 
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Appraisd Ltd Notes to the Accounts for the year ended 31 March 2024
5
Pension commitments
An adjustment has been made relating to pension contributions from 2019/20 that were treated as personal contributions made by the director when in fact they were employer contributions. The effect is to recognise an additional £9,308 of pension costs in this year's profit and loss account.
6
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
7,875 
7,875 
7
Contingent liabilities
There is an estimated liability of $45,742 (£36,212) for USA sales tax plus late payment interest of $5,786 (£4,581). The possibility of reimbursement from customers is currently not known so a provision has not yet been made for the liability or reimbursement. There may also be further tax liabilities for sales made outside the UK and USA but the amounts involved cannot yet be estimated. The company is working with international tax advisors to determine and correct the position.
8
Average number of employees
During the year the average number of employees was 12 (2023: 15).
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