Acorah Software Products - Accounts Production 16.0.110 false true 30 June 2022 1 July 2021 false 1 July 2022 31 December 2023 31 December 2023 03342996 Mr A Evans Mr A Evans iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03342996 2022-06-30 03342996 2023-12-31 03342996 2022-07-01 2023-12-31 03342996 frs-core:CurrentFinancialInstruments 2023-12-31 03342996 frs-core:Non-currentFinancialInstruments 2023-12-31 03342996 frs-core:BetweenOneFiveYears 2023-12-31 03342996 frs-core:ComputerEquipment 2022-07-01 2023-12-31 03342996 frs-core:LandBuildings 2023-12-31 03342996 frs-core:LandBuildings 2022-07-01 2023-12-31 03342996 frs-core:LandBuildings 2022-06-30 03342996 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-07-01 2023-12-31 03342996 frs-core:MotorVehicles 2022-07-01 2023-12-31 03342996 frs-core:PlantMachinery 2023-12-31 03342996 frs-core:PlantMachinery 2022-07-01 2023-12-31 03342996 frs-core:PlantMachinery 2022-06-30 03342996 frs-core:WithinOneYear 2023-12-31 03342996 frs-core:ShareCapital 2023-12-31 03342996 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03342996 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-12-31 03342996 frs-bus:FilletedAccounts 2022-07-01 2023-12-31 03342996 frs-bus:SmallEntities 2022-07-01 2023-12-31 03342996 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-12-31 03342996 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-12-31 03342996 frs-bus:Director1 2022-07-01 2023-12-31 03342996 frs-bus:Director1 2022-06-30 03342996 frs-bus:Director1 2023-12-31 03342996 frs-bus:CompanySecretary1 2022-07-01 2023-12-31 03342996 frs-countries:EnglandWales 2022-07-01 2023-12-31 03342996 2021-06-30 03342996 2022-06-30 03342996 2021-07-01 2022-06-30 03342996 frs-core:CurrentFinancialInstruments 2022-06-30 03342996 frs-core:Non-currentFinancialInstruments 2022-06-30 03342996 frs-core:BetweenOneFiveYears 2022-06-30 03342996 frs-core:WithinOneYear 2022-06-30 03342996 frs-core:ShareCapital 2022-06-30 03342996 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30
Registered number: 03342996
World In Motion Limited
Unaudited Financial Statements
For the Period 1 July 2022 to 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03342996
31 December 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 54,578 111,398
54,578 111,398
CURRENT ASSETS
Debtors 4 2,102,825 1,855,053
Investments 5 852,000 852,000
Cash at bank and in hand 101,105 72,429
3,055,930 2,779,482
Creditors: Amounts Falling Due Within One Year 6 (2,586,467 ) (2,172,370 )
NET CURRENT ASSETS (LIABILITIES) 469,463 607,112
TOTAL ASSETS LESS CURRENT LIABILITIES 524,041 718,510
Creditors: Amounts Falling Due After More Than One Year 7 (253,443 ) (492,069 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,645 ) (21,166 )
NET ASSETS 256,953 205,275
CAPITAL AND RESERVES
Called up share capital 2 2
Profit and Loss Account 256,951 205,273
SHAREHOLDERS' FUNDS 256,953 205,275
Page 1
Page 2
For the period ending 31 December 2023 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 A Evans
Director
31st October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
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 discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer rebates and other similar allowances.
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.
1.3. 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:
Leasehold Over 15 years
Motor Vehicles 20% on cost
Computer Equipment 20% on cost
1.4. 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.
1.5. Financial Instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities,  including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable 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 or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
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1.6. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.7. 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.
1.8. 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.
1.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
1.10. Investments in Subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 14 (2022: 21)
14 21
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3. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 July 2022 57,891 175,158 233,049
Additions - 45,571 45,571
Disposals (57,891 ) - (57,891 )
As at 31 December 2023 - 220,729 220,729
Depreciation
As at 1 July 2022 14,442 107,209 121,651
Provided during the period - 58,942 58,942
Disposals (14,442 ) - (14,442 )
As at 31 December 2023 - 166,151 166,151
Net Book Value
As at 31 December 2023 - 54,578 54,578
As at 1 July 2022 43,449 67,949 111,398
4. Debtors
31 December 2023 30 June 2022
£ £
Due within one year
Trade debtors 1,076,606 715,749
Amounts owed by group undertakings 226,812 -
Other debtors 799,407 1,139,304
2,102,825 1,855,053
5. Current Asset Investments
31 December 2023 30 June 2022
£ £
Shares in subsidiaries 852,000 852,000
852,000 852,000
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6. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 June 2022
£ £
Net obligations under finance lease and hire purchase contracts 11,230 -
Trade creditors 493,978 33,607
Bank loans and overdrafts 214,993 178,223
Amounts owed to group undertakings - 417,191
Other creditors 1,287,187 1,153,267
Taxation and social security 579,079 390,082
2,586,467 2,172,370
7. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 30 June 2022
£ £
Net obligations under finance lease and hire purchase contracts 31,327 -
Bank loans 222,116 492,069
253,443 492,069
8. Obligations Under Finance Leases and Hire Purchase
31 December 2023 30 June 2022
£ £
The maturity of these amounts is as follows:
Within one year 11,230 -
Between one and five years 31,327 -
42,557 -
42,557 -
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2022 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Andrew Evans 539,285 218,940 539,285 - 218,940
The loan to the director is repayable on demand and interest is being charged at 2.25% per annum.
10. General Information
World In Motion Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03342996 . The registered office is 60-62 Margaret Street, London, W1W 8TF.
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