Acorah Software Products - Accounts Production 15.0.600 false true true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09648442 Ms W Uppakarn Mr A J Mackrell Mr A J Mackrell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09648442 2022-10-31 09648442 2023-10-31 09648442 2022-11-01 2023-10-31 09648442 frs-core:CurrentFinancialInstruments 2023-10-31 09648442 frs-core:Non-currentFinancialInstruments 2023-10-31 09648442 frs-core:FurnitureFittings 2023-10-31 09648442 frs-core:FurnitureFittings 2022-11-01 2023-10-31 09648442 frs-core:FurnitureFittings 2022-10-31 09648442 frs-core:InvestmentPropertyIncludedWithinPPE 2023-10-31 09648442 frs-core:InvestmentPropertyIncludedWithinPPE 2022-10-31 09648442 frs-core:ShareCapital 2023-10-31 09648442 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09648442 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09648442 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09648442 frs-bus:SmallEntities 2022-11-01 2023-10-31 09648442 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09648442 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09648442 frs-bus:Director1 2022-11-01 2023-10-31 09648442 frs-bus:Director2 2022-11-01 2023-10-31 09648442 frs-bus:CompanySecretary1 2022-11-01 2023-10-31 09648442 frs-core:Non-currentFinancialInstruments 1 2023-10-31 09648442 frs-countries:EnglandWales 2022-11-01 2023-10-31 09648442 2021-10-31 09648442 2022-10-31 09648442 2021-11-01 2022-10-31 09648442 frs-core:CurrentFinancialInstruments 2022-10-31 09648442 frs-core:Non-currentFinancialInstruments 2022-10-31 09648442 frs-core:ShareCapital 2022-10-31 09648442 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 09648442 frs-core:Non-currentFinancialInstruments 1 2022-10-31
Registered number: 09648442
4Ward Thinking Group Ltd
Financial Statements
For The Year Ended 31 October 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09648442
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 2,281,472 2,282,963
2,281,472 2,282,963
CURRENT ASSETS
Debtors 4 10,468 28,137
Cash at bank and in hand 49,930 3,268
60,398 31,405
Creditors: Amounts Falling Due Within One Year 5 (228,070 ) (79,989 )
NET CURRENT ASSETS (LIABILITIES) (167,672 ) (48,584 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,113,800 2,234,379
Creditors: Amounts Falling Due After More Than One Year 6 (2,116,662 ) (2,235,773 )
NET LIABILITIES (2,862 ) (1,394 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (2,863 ) (1,395 )
SHAREHOLDERS' FUNDS (2,862) (1,394)
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For the year ending 31 October 2023 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 A J Mackrell
Director
8 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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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. Going Concern Disclosure
At 31st October 2023, the company had net liabilities of £2,862. The company is reliant on the continued support of the directors. The directors have confirmed their intention to support the company for at least twelve months from the date of signing the accounts.
On the above basis, the directors consider that the accounts should be prepared on a going concern basis.
1.3. 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.
1.4. 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:
Fixtures & Fittings 25% reducing balance
1.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.6. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
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3. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 2,277,000 10,602 2,287,602
As at 31 October 2023 2,277,000 10,602 2,287,602
Depreciation
As at 1 November 2022 - 4,639 4,639
Provided during the period - 1,491 1,491
As at 31 October 2023 - 6,130 6,130
Net Book Value
As at 31 October 2023 2,277,000 4,472 2,281,472
As at 1 November 2022 2,277,000 5,963 2,282,963
4. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 499 499
Other debtors 1,474 7,198
VAT 968 1,796
Directors' loan accounts - 11,117
Called up share capital not paid 1 1
Amounts owed by group undertakings 7,526 7,526
10,468 28,137
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 13,462 13,462
Bank loans and overdrafts 18,225 18,225
Corporation tax 3,690 6,508
Other creditors 1,410 1,410
Accruals and deferred income 27,112 27,112
Directors' loan accounts 158,059 -
Amounts owed to group undertakings 6,112 13,272
228,070 79,989
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 11,615 23,841
Other creditors 1,005,813 955,813
Leveraged loans 1,099,234 1,256,119
2,116,662 2,235,773
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7. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 1 1
Amount of Allotted, Called Up Share Capital 1 1
8. General Information
4Ward Thinking Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09648442 . The registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
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