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 07180093 Mr Richard Sherwin Mrs Julie Sherwin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07180093 2023-03-31 07180093 2024-03-31 07180093 2023-04-01 2024-03-31 07180093 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07180093 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07180093 frs-core:ShareCapital 2024-03-31 07180093 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07180093 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07180093 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 07180093 frs-bus:SmallEntities 2023-04-01 2024-03-31 07180093 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07180093 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07180093 frs-bus:Director1 2023-04-01 2024-03-31 07180093 frs-bus:Director2 2023-04-01 2024-03-31 07180093 frs-countries:EnglandWales 2023-04-01 2024-03-31 07180093 2022-03-31 07180093 2023-03-31 07180093 2022-04-01 2023-03-31 07180093 frs-core:ShareCapital 2023-03-31 07180093 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07180093
API Consulting Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Newtons Accountants Limited
Chartered Certified Accountants
470 Hucknall Road
Nottingham
Nottinghamshire
NG5 1FX
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 07180093
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,925 7,489
4,925 7,489
CURRENT ASSETS
Debtors 12,987 57,813
Cash at bank and in hand 208,959 306,174
221,946 363,987
Creditors: Amounts Falling Due Within One Year (39,808 ) (217,178 )
NET CURRENT ASSETS (LIABILITIES) 182,138 146,809
TOTAL ASSETS LESS CURRENT LIABILITIES 187,063 154,298
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,231 ) (1,423 )
NET ASSETS 185,832 152,875
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 185,732 152,775
SHAREHOLDERS' FUNDS 185,832 152,875
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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 Profit and Loss Account and 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
Mr Richard Sherwin
Director
Mrs Julie Sherwin
Director
14/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
API Consulting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07180093 . The registered office is 470 Hucknall Road, Nottingham, NG5 1FX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.
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. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings 15% reducing balance basis
Computer Equipment 33% straight line basis
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2.4. Taxation
The company's tax charge represents the sum of the corporation tax currently payable and deferred tax.
The corporation 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 year 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 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.
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.
2.5. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 April 2023 20,056
Additions 3,719
Disposals (2,505 )
As at 31 March 2024 21,270
Depreciation
As at 1 April 2023 12,567
...CONTINUED
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Provided during the period 5,949
Disposals (2,171 )
As at 31 March 2024 16,345
Net Book Value
As at 31 March 2024 4,925
As at 1 April 2023 7,489
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
6. Related Party Transactions
The directors had a loan account with the company during the year. The opening balance was £167,237 owing to the directors and the directors withdrew £141,701 from the company during the year. The closing balance at the year end was £25,536 owing to the directors and is included in other creditors payable within one year.
The above loan is unsecured and repayable on demand.
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