Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 05533712 Mr Barrie Patrick Torbett Mrs Carol Joanna Torbett Mrs Carol Joanna Torbett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05533712 2023-03-31 05533712 2024-03-31 05533712 2023-04-01 2024-03-31 05533712 frs-core:CurrentFinancialInstruments 2024-03-31 05533712 frs-core:ComputerEquipment 2024-03-31 05533712 frs-core:ComputerEquipment 2023-04-01 2024-03-31 05533712 frs-core:ComputerEquipment 2023-03-31 05533712 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-03-31 05533712 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 05533712 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 05533712 frs-core:FurnitureFittings 2024-03-31 05533712 frs-core:FurnitureFittings 2023-04-01 2024-03-31 05533712 frs-core:FurnitureFittings 2023-03-31 05533712 frs-core:ShareCapital 2024-03-31 05533712 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 05533712 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05533712 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 05533712 frs-bus:SmallEntities 2023-04-01 2024-03-31 05533712 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05533712 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05533712 frs-core:CostValuation 2023-03-31 05533712 frs-core:CostValuation 2024-03-31 05533712 frs-core:ProvisionsForImpairmentInvestments 2023-03-31 05533712 frs-core:ProvisionsForImpairmentInvestments 2024-03-31 05533712 frs-core:UnlistedNon-exchangeTraded 2024-03-31 05533712 frs-core:UnlistedNon-exchangeTraded 2023-03-31 05533712 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 05533712 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 05533712 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 05533712 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 05533712 frs-bus:Director1 2023-04-01 2024-03-31 05533712 frs-bus:Director2 2023-04-01 2024-03-31 05533712 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 05533712 frs-countries:EnglandWales 2023-04-01 2024-03-31 05533712 2022-03-31 05533712 2023-03-31 05533712 2022-04-01 2023-03-31 05533712 frs-core:CurrentFinancialInstruments 2023-03-31 05533712 frs-core:Non-currentFinancialInstruments 2023-03-31 05533712 frs-core:ShareCapital 2023-03-31 05533712 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 05533712
Renascence Group Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05533712
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 985 1,190
Investments 6 12,001 12,001
12,987 13,192
CURRENT ASSETS
Debtors 7 568 62,032
Cash at bank and in hand 6,155 11,419
6,723 73,451
Creditors: Amounts Falling Due Within One Year 8 (18,975 ) (27,835 )
NET CURRENT ASSETS (LIABILITIES) (12,252 ) 45,616
TOTAL ASSETS LESS CURRENT LIABILITIES 735 58,808
PROVISIONS FOR LIABILITIES
Deferred Taxation (187 ) (226 )
NET ASSETS 548 58,582
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account (452 ) 57,582
SHAREHOLDERS' FUNDS 548 58,582
Page 1
Page 2
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.
On behalf of the board
Mr Barrie Patrick Torbett
Director
31/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Renascence Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05533712 . The registered office is 4 Pine Drive, Finchampstead, Wokingham, Berkshire, RG40 3LE.
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 - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... 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:
Fixtures & Fittings 15% Reducing balance
Computer Equipment 25% Reducing balance
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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 April 2023 25,945
As at 31 March 2024 25,945
Amortisation
As at 1 April 2023 25,944
As at 31 March 2024 25,944
Net Book Value
As at 31 March 2024 1
As at 1 April 2023 1
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 8,879 709 9,588
As at 31 March 2024 8,879 709 9,588
Depreciation
As at 1 April 2023 7,944 454 8,398
Provided during the period 141 64 205
As at 31 March 2024 8,085 518 8,603
Net Book Value
As at 31 March 2024 794 191 985
As at 1 April 2023 935 255 1,190
6. Investments
Subsidiaries Unlisted Total
£ £ £
Cost
As at 1 April 2023 1 12,000 12,001
As at 31 March 2024 1 12,000 12,001
Provision
As at 1 April 2023 - - -
As at 31 March 2024 - - -
Net Book Value
As at 31 March 2024 1 12,000 12,001
As at 1 April 2023 1 12,000 12,001
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 568 1,104
Other debtors - 7,071
568 8,175
Due after more than one year
Amounts owed by associated company - 53,857
568 62,032
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 408 4,901
Corporation tax 436 1,487
PAYE Control 308 308
Accruals 2,040 2,040
Directors' loan accounts 15,783 19,099
18,975 27,835
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5