Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 08052475 Mr Julian Robert Lewis Mr Nicholas Edward Forgham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08052475 2023-05-31 08052475 2024-05-31 08052475 2023-06-01 2024-05-31 08052475 frs-core:CurrentFinancialInstruments 2024-05-31 08052475 frs-core:Non-currentFinancialInstruments 2024-05-31 08052475 frs-core:ComputerEquipment 2024-05-31 08052475 frs-core:ComputerEquipment 2023-06-01 2024-05-31 08052475 frs-core:ComputerEquipment 2023-05-31 08052475 frs-core:NetGoodwill 2024-05-31 08052475 frs-core:NetGoodwill 2023-06-01 2024-05-31 08052475 frs-core:NetGoodwill 2023-05-31 08052475 frs-core:PlantMachinery 2024-05-31 08052475 frs-core:PlantMachinery 2023-06-01 2024-05-31 08052475 frs-core:PlantMachinery 2023-05-31 08052475 frs-core:ShareCapital 2024-05-31 08052475 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 08052475 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08052475 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 08052475 frs-bus:SmallEntities 2023-06-01 2024-05-31 08052475 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 08052475 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08052475 frs-bus:Director1 2023-06-01 2024-05-31 08052475 frs-bus:Director1 2023-05-31 08052475 frs-bus:Director1 2024-05-31 08052475 frs-bus:Director2 2023-06-01 2024-05-31 08052475 frs-bus:Director2 2023-05-31 08052475 frs-bus:Director2 2024-05-31 08052475 frs-core:CurrentFinancialInstruments 9 2024-05-31 08052475 frs-countries:EnglandWales 2023-06-01 2024-05-31 08052475 2022-05-31 08052475 2023-05-31 08052475 2022-06-01 2023-05-31 08052475 frs-core:CurrentFinancialInstruments 2023-05-31 08052475 frs-core:Non-currentFinancialInstruments 2023-05-31 08052475 frs-core:ShareCapital 2023-05-31 08052475 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 08052475 frs-core:CurrentFinancialInstruments 9 2023-05-31
Registered number: 08052475
Abundant Referrals Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08052475
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 37,311 42,641
Tangible Assets 5 824 1,411
38,135 44,052
CURRENT ASSETS
Debtors 6 179,993 174,436
Cash at bank and in hand 54,453 35,175
234,446 209,611
Creditors: Amounts Falling Due Within One Year 7 (261,111 ) (275,393 )
NET CURRENT ASSETS (LIABILITIES) (26,665 ) (65,782 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,470 (21,730 )
Creditors: Amounts Falling Due After More Than One Year 8 (10,946 ) (20,998 )
NET ASSETS/(LIABILITIES) 524 (42,728 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 522 (42,730 )
SHAREHOLDERS' FUNDS 524 (42,728)
Page 1
Page 2
For the year ending 31 May 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 Julian Robert Lewis
Director
04/11/2024
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
Abundant Referrals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08052475 . The registered office is Ransom Briff Lane, Upper Bucklebury, Reading, RG7 6ST.
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 .... 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 25% Straight line
Computer Equipment 25% Straight line
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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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 320,151
As at 31 May 2024 320,151
Amortisation
As at 1 June 2023 277,510
Provided during the period 5,330
As at 31 May 2024 282,840
Net Book Value
As at 31 May 2024 37,311
As at 1 June 2023 42,641
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 949 1,398 2,347
As at 31 May 2024 949 1,398 2,347
Depreciation
As at 1 June 2023 237 699 936
Provided during the period 237 350 587
As at 31 May 2024 474 1,049 1,523
Net Book Value
As at 31 May 2024 475 349 824
As at 1 June 2023 712 699 1,411
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,761 28,317
Prepayments and accrued income 919 168
Other debtors 38,965 36,098
Directors' loan accounts 118,348 109,853
179,993 174,436
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,261 33,359
Bank loans and overdrafts 32,191 15,472
Corporation tax 25,783 8,806
PAYE Control 479 -
VAT 11,934 15,782
Deferred Income 158,398 201,974
Accruals 3,065 -
261,111 275,393
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,946 20,998
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Julian Lewis 90,897 27,501 45,316 - 73,082
Mr Nicholas Forgham 18,956 52,555 26,246 - 45,265
The above loans are unsecured, interest is charged at applicable rates and repayable on demand.
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