Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 10726550 Mrs K Smith Ms R Cole iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10726550 2023-04-30 10726550 2024-04-30 10726550 2023-05-01 2024-04-30 10726550 frs-core:CurrentFinancialInstruments 2024-04-30 10726550 frs-core:ComputerEquipment 2023-05-01 2024-04-30 10726550 frs-core:FurnitureFittings 2023-05-01 2024-04-30 10726550 frs-core:PlantMachinery 2024-04-30 10726550 frs-core:PlantMachinery 2023-05-01 2024-04-30 10726550 frs-core:PlantMachinery 2023-04-30 10726550 frs-core:ShareCapital 2024-04-30 10726550 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 10726550 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10726550 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 10726550 frs-bus:SmallEntities 2023-05-01 2024-04-30 10726550 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10726550 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10726550 frs-bus:Director1 2023-05-01 2024-04-30 10726550 frs-bus:Director2 2023-05-01 2024-04-30 10726550 frs-countries:EnglandWales 2023-05-01 2024-04-30 10726550 2022-04-30 10726550 2023-04-30 10726550 2022-05-01 2023-04-30 10726550 frs-core:CurrentFinancialInstruments 2023-04-30 10726550 frs-core:ShareCapital 2023-04-30 10726550 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 10726550
Munro Smith Associates Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10726550
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 956 1,581
956 1,581
CURRENT ASSETS
Debtors 5 8,919 6,636
Cash at bank and in hand 38,780 29,069
47,699 35,705
Creditors: Amounts Falling Due Within One Year 6 (15,235 ) (15,359 )
NET CURRENT ASSETS (LIABILITIES) 32,464 20,346
TOTAL ASSETS LESS CURRENT LIABILITIES 33,420 21,927
PROVISIONS FOR LIABILITIES
Deferred Taxation (409 ) (284 )
NET ASSETS 33,011 21,643
CAPITAL AND RESERVES
Called up share capital 7 120 120
Profit and Loss Account 32,891 21,523
SHAREHOLDERS' FUNDS 33,011 21,643
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For the year ending 30 April 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
Mrs K Smith
Director
Ms R Cole
Director
15/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Munro Smith Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10726550 . The registered office is 12 Caspian Close, Whiteley , Hampshire, PO15 7BP.
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 rendering of services. Turnover is reduced for estimated customer returns, 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.
2.3. 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:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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2.5. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
2.6. 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.
2.7. Share Capital & Dividends
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 May 2023 3,534
Additions 300
As at 30 April 2024 3,834
Depreciation
As at 1 May 2023 1,953
Provided during the period 925
As at 30 April 2024 2,878
Net Book Value
As at 30 April 2024 956
As at 1 May 2023 1,581
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,308 25
Other debtors 6,611 6,611
8,919 6,636
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) -
Other creditors 8,608 8,608
Taxation and social security 6,628 6,751
15,235 15,359
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
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