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 08633069 Dr J Cochrane Miss F Cochrane iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08633069 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-03-31 08633069 2023-03-31 08633069 2024-03-31 08633069 2023-04-01 2024-03-31 08633069 frs-core:Non-currentFinancialInstruments 2024-03-31 08633069 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08633069 frs-core:PlantMachinery 2023-04-01 2024-03-31 08633069 frs-core:ShareCapital 2024-03-31 08633069 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08633069 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08633069 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 08633069 frs-bus:SmallEntities 2023-04-01 2024-03-31 08633069 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08633069 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08633069 frs-core:CostValuation 2023-03-31 08633069 frs-core:CostValuation 2024-03-31 08633069 frs-bus:Director1 2023-04-01 2024-03-31 08633069 frs-bus:Director2 2023-04-01 2024-03-31 08633069 frs-countries:EnglandWales 2023-04-01 2024-03-31 08633069 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 08633069 2022-03-31 08633069 2023-03-31 08633069 2022-04-01 2023-03-31 08633069 frs-core:Non-currentFinancialInstruments 2023-03-31 08633069 frs-core:ShareCapital 2023-03-31 08633069 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08633069
Jonny Cochrane Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Hive Accountancy Ltd
The Innovation Centre
Treliske
Truro
Cornwall
TR1 3FF
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 08633069
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,986 6,880
Investments 5 1,800,665 1,800,665
1,806,651 1,807,545
CURRENT ASSETS
Debtors 3,304,744 2,863,914
Cash at bank and in hand 269 1,223
3,305,013 2,865,137
Creditors: Amounts Falling Due Within One Year (112,782 ) (123,512 )
NET CURRENT ASSETS (LIABILITIES) 3,192,231 2,741,625
TOTAL ASSETS LESS CURRENT LIABILITIES 4,998,882 4,549,170
Creditors: Amounts Falling Due After More Than One Year 6 (2,697,346 ) (2,223,197 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,137 ) (1,307 )
NET ASSETS 2,300,399 2,324,666
CAPITAL AND RESERVES
Called up share capital 8 101 101
Profit and Loss Account 2,300,298 2,324,565
SHAREHOLDERS' FUNDS 2,300,399 2,324,666
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Dr J Cochrane
Director
30 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Jonny Cochrane Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08633069 . The registered office is 9 Clover Grove, Barrow Gurney, Bristol, BS48 3AJ.
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 represents the total invoice value, excluding value added tax, of sales made during the period.
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:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
2.4. Financial Instruments
Debt instruments (other than those wholly repayble or recievable within one year), including loans and other accounts recievable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. 
Debt instruments that are payable and recievable within one year, typically trade debtors and creditors, are mesured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitue a finaciang transaction, like the payment of trade debt defferd beyond the normal business terms or financied at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a maret rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assests that are measured at cost and amortised costs are assessed at the end of each reporting period for the objective evidence of impairment. If objective evidence of impariment is found, an impairment loss is recognised in the Profit and Loss Account.
For finanical assets measured at amortised cost, the impariment loss is measured at the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s orginal effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
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.
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2.6. Investments in Subsidiaries
Investments in subsidiary undertakings are recognised at cost.
2.7. Cash and Cash Equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Cash and cash equivalents are shown net of bank overdrafts that are repayable on demand.
3. Average Number of Employees
Average number of employees during the year was as follows: NIL (2023: NIL)
- -
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 16,243
Additions 162
As at 31 March 2024 16,405
Depreciation
As at 1 April 2023 9,363
Provided during the period 1,056
As at 31 March 2024 10,419
Net Book Value
As at 31 March 2024 5,986
As at 1 April 2023 6,880
5. Investments
Total
£
Cost
As at 1 April 2023 1,800,665
As at 31 March 2024 1,800,665
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,800,665
As at 1 April 2023 1,800,665
6. Creditors: amounts falling due after five years
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 1,020,355 1,174,613
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7. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 1,532,445 1,633,898
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
9. Related Party Transactions
During the year ended 31 March 2022, a loan of £100,000 was provided to the Company by a related party.  The balance outstanding at the end of this financial year was £16,732 (2023: £34,285). This loan is interest free and repayable on demand.
In the current year, the Company loaned £440,830 to another Company owned by Dr J Cochrane. The total amount loaned to the Company at the end of the financial year is £3,304,744 (2023: £2,863,914). This loan is shown within "Debtors" in these financial statements and is repayable on demand.
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