Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 07928936 Mr Michael Grindy Mr Timothy Greatrex Mrs Annabel Grindy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07928936 2023-01-31 07928936 2024-01-31 07928936 2023-02-01 2024-01-31 07928936 frs-core:CurrentFinancialInstruments 2024-01-31 07928936 frs-core:Non-currentFinancialInstruments 2024-01-31 07928936 frs-core:BetweenOneFiveYears 2024-01-31 07928936 frs-core:ComputerEquipment 2024-01-31 07928936 frs-core:ComputerEquipment 2023-02-01 2024-01-31 07928936 frs-core:ComputerEquipment 2023-01-31 07928936 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 07928936 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 07928936 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 07928936 frs-core:FurnitureFittings 2024-01-31 07928936 frs-core:FurnitureFittings 2023-02-01 2024-01-31 07928936 frs-core:FurnitureFittings 2023-01-31 07928936 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 07928936 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07928936 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-31 07928936 frs-core:MotorVehicles 2024-01-31 07928936 frs-core:MotorVehicles 2023-02-01 2024-01-31 07928936 frs-core:MotorVehicles 2023-01-31 07928936 frs-core:OtherResidualIntangibleAssets 2024-01-31 07928936 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 07928936 frs-core:OtherResidualIntangibleAssets 2023-01-31 07928936 frs-core:WithinOneYear 2024-01-31 07928936 frs-core:CapitalRedemptionReserve 2024-01-31 07928936 frs-core:ShareCapital 2024-01-31 07928936 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07928936 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07928936 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07928936 frs-bus:SmallEntities 2023-02-01 2024-01-31 07928936 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07928936 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07928936 frs-bus:Director1 2023-02-01 2024-01-31 07928936 frs-bus:Director2 2023-02-01 2024-01-31 07928936 frs-bus:CompanySecretary1 2023-02-01 2024-01-31 07928936 1 2023-02-01 2024-01-31 07928936 frs-countries:EnglandWales 2023-02-01 2024-01-31 07928936 2022-01-31 07928936 2023-01-31 07928936 2022-02-01 2023-01-31 07928936 frs-core:CurrentFinancialInstruments 2023-01-31 07928936 frs-core:Non-currentFinancialInstruments 2023-01-31 07928936 frs-core:BetweenOneFiveYears 2023-01-31 07928936 frs-core:WithinOneYear 2023-01-31 07928936 frs-core:CapitalRedemptionReserve 2023-01-31 07928936 frs-core:ShareCapital 2023-01-31 07928936 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 07928936 1 2022-02-01 2023-01-31
Registered number: 07928936
Passion Digital Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
The Wow Company UK Ltd
3rd Floor, 86-90 Paul Street
London
EC2A 4NE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07928936
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 15,829 49,637
Tangible Assets 4 82,393 110,027
98,222 159,664
CURRENT ASSETS
Debtors 5 563,900 525,750
Cash at bank and in hand 800,956 663,020
1,364,856 1,188,770
Creditors: Amounts Falling Due Within One Year 6 (1,014,426 ) (611,597 )
NET CURRENT ASSETS (LIABILITIES) 350,430 577,173
TOTAL ASSETS LESS CURRENT LIABILITIES 448,652 736,837
Creditors: Amounts Falling Due After More Than One Year 7 (29,243 ) (40,521 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,561 ) (16,561 )
NET ASSETS 410,848 679,755
CAPITAL AND RESERVES
Called up share capital 280 180
Capital redemption reserve - 20
Profit and Loss Account 410,568 679,555
SHAREHOLDERS' FUNDS 410,848 679,755
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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 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 Michael Grindy
Director
31 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. 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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the provision of services and is recognised in the period in which it relates. If the provision of services spans the financial year end, it is measured by reviewing the actual services performed against invoices raised, so that revenue is only recognised if the work has been completed for the client by the end of the financial year.
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangible assets are amortised over their expected useful economic life of 5 years.
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:
Leasehold improvements Not depreciated
Motor vehicles 25% on cost
Fixtures and fittings 25-37% on cost
Office equipment 25% on cost
1.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets.

Assets acquired under hire purchase contracts are depreciated over their useful lives.

Assets acquired under finance leases are depreciated over the shorter of the lease term and 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.
1.6. Financial Instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment. 
1.7. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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1.8. Taxation
The taxation expense represents the sum of the tax currently payable and deferred tax. 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.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account 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
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 asset reflects 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.
1.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2. Average Number of Employees
2024 2023
Average number of employees, including directors, during the year 33 33
33 33
3. Intangible Assets
Other Website Total
£ £ £
Cost
As at 1 February 2023 113,714 97,527 211,241
As at 31 January 2024 113,714 97,527 211,241
Amortisation
As at 1 February 2023 85,368 76,236 161,604
Provided during the period 24,300 9,508 33,808
As at 31 January 2024 109,668 85,744 195,412
Net Book Value
As at 31 January 2024 4,046 11,783 15,829
As at 1 February 2023 28,346 21,291 49,637
4. Tangible Assets
Land & Property
Leasehold improvements Motor vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 53,171 79,781 7,938 71,323 212,213
Additions - - - 8,211 8,211
Disposals - - (5,645 ) - (5,645 )
As at 31 January 2024 53,171 79,781 2,293 79,534 214,779
Depreciation
As at 1 February 2023 - 43,552 5,651 52,983 102,186
Provided during the period 5,317 19,945 488 8,296 34,046
Disposals - - (3,846 ) - (3,846 )
As at 31 January 2024 5,317 63,497 2,293 61,279 132,386
Net Book Value
As at 31 January 2024 47,854 16,284 - 18,255 82,393
As at 1 February 2023 53,171 36,229 2,287 18,340 110,027
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 425,801 206,193
Amounts owed by participating interests 44,553 113,787
Other debtors 66,546 88,722
536,900 408,702
Due after more than one year
Amounts owed by group undertakings - 90,048
Other debtors 27,000 27,000
27,000 117,048
563,900 525,750
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,696 10,696
Trade creditors 195,842 309,008
Other creditors 584,207 178,398
Taxation and social security 223,681 113,495
1,014,426 611,597
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,243 40,521
29,243 40,521
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The maturity of these amounts is as follows:
Within one year 10,696 10,696
Between one and five years 29,243 40,521
39,939 51,217
39,939 51,217
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9. Related Party Transactions
The amount due from the related party at the year end was £44,553 (2023 : £203,835)
10. General Information
Passion Digital Ltd is a private company, limited by shares, incorporated in England & Wales. The registered company number is 07928936 and the registered office is Holborn Tower 137-144 High Holborn, 4th Floor, London, England, WC1V 6PL.
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