Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 05688230 Mr Jeremy Peck Mrs Joanna Peck iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05688230 2023-01-31 05688230 2024-01-31 05688230 2023-02-01 2024-01-31 05688230 frs-core:CurrentFinancialInstruments 2024-01-31 05688230 frs-core:Non-currentFinancialInstruments 2024-01-31 05688230 frs-core:BetweenOneFiveYears 2024-01-31 05688230 frs-core:NetGoodwill 2024-01-31 05688230 frs-core:NetGoodwill 2023-02-01 2024-01-31 05688230 frs-core:NetGoodwill 2023-01-31 05688230 frs-core:MotorVehicles 2024-01-31 05688230 frs-core:MotorVehicles 2023-02-01 2024-01-31 05688230 frs-core:MotorVehicles 2023-01-31 05688230 frs-core:PlantMachinery 2024-01-31 05688230 frs-core:PlantMachinery 2023-02-01 2024-01-31 05688230 frs-core:PlantMachinery 2023-01-31 05688230 frs-core:WithinOneYear 2024-01-31 05688230 frs-core:ShareCapital 2024-01-31 05688230 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 05688230 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05688230 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 05688230 frs-bus:SmallEntities 2023-02-01 2024-01-31 05688230 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05688230 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05688230 frs-bus:Director1 2023-02-01 2024-01-31 05688230 frs-bus:Director1 2023-01-31 05688230 frs-bus:Director1 2024-01-31 05688230 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 05688230 frs-countries:EnglandWales 2023-02-01 2024-01-31 05688230 2022-01-31 05688230 2023-01-31 05688230 2022-02-01 2023-01-31 05688230 frs-core:CurrentFinancialInstruments 2023-01-31 05688230 frs-core:Non-currentFinancialInstruments 2023-01-31 05688230 frs-core:BetweenOneFiveYears 2023-01-31 05688230 frs-core:WithinOneYear 2023-01-31 05688230 frs-core:ShareCapital 2023-01-31 05688230 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 05688230
P2 (UK) Limited
Financial Statements
For The Year Ended 31 January 2024
Fruition Accountancy Limited
Unit 4 Three Spires House, Station Road
Lichfield
WS13 6HX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 05688230
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 15,246 17,937
15,246 17,937
CURRENT ASSETS
Stocks 6 548 720
Debtors 7 1,003 1,626
Cash at bank and in hand 10,316 9,331
11,867 11,677
Creditors: Amounts Falling Due Within One Year 8 (14,407 ) (11,640 )
NET CURRENT ASSETS (LIABILITIES) (2,540 ) 37
TOTAL ASSETS LESS CURRENT LIABILITIES 12,706 17,974
Creditors: Amounts Falling Due After More Than One Year 9 (9,651 ) (14,530 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,897 ) (3,408 )
NET ASSETS 158 36
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 156 34
SHAREHOLDERS' FUNDS 158 36
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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 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 Jeremy Peck
Director
30th October 2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
P2 (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05688230 . The registered office is 46 Bishops Way, Andover, Hampshire, SP10 3EH.
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 five 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 15% reducing balance
Motor Vehicles 15% reducing balance
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.
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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.
2.7. Taxation
Corporation 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:
2024 2023
Office and administration 1 1
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 12,000
As at 31 January 2024 12,000
Amortisation
As at 1 February 2023 12,000
As at 31 January 2024 12,000
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 2,237 20,740 22,977
As at 31 January 2024 2,237 20,740 22,977
Depreciation
As at 1 February 2023 1,929 3,111 5,040
Provided during the period 47 2,644 2,691
As at 31 January 2024 1,976 5,755 7,731
Net Book Value
As at 31 January 2024 261 14,985 15,246
As at 1 February 2023 308 17,629 17,937
6. Stocks
2024 2023
£ £
Materials 548 720
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 405 -
Other debtors 598 1,626
1,003 1,626
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,956 3,956
Trade creditors 296 249
Bank loans and overdrafts 994 1,000
Other creditors 6,495 5,588
Taxation and social security 2,666 847
14,407 11,640
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,241 12,197
Bank loans 1,410 2,333
9,651 14,530
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,956 3,956
Later than one year and not later than five years 8,241 12,197
12,197 16,153
12,197 16,153
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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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 Jeremy Peck 1,343 - - 1,343 -
The above loan is unsecured, interest free and repayable on demand.
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