Acorah Software Products - Accounts Production 16.0.110 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09510372 Mr Samuel Swift Mr Samuel Swift iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09510372 2022-12-31 09510372 2023-12-31 09510372 2023-01-01 2023-12-31 09510372 frs-core:CurrentFinancialInstruments 2023-12-31 09510372 frs-core:Non-currentFinancialInstruments 2023-12-31 09510372 frs-core:BetweenOneFiveYears 2023-12-31 09510372 frs-core:ComputerEquipment 2023-12-31 09510372 frs-core:ComputerEquipment 2023-01-01 2023-12-31 09510372 frs-core:ComputerEquipment 2022-12-31 09510372 frs-core:FurnitureFittings 2023-12-31 09510372 frs-core:FurnitureFittings 2023-01-01 2023-12-31 09510372 frs-core:FurnitureFittings 2022-12-31 09510372 frs-core:MotorVehicles 2023-12-31 09510372 frs-core:MotorVehicles 2023-01-01 2023-12-31 09510372 frs-core:MotorVehicles 2022-12-31 09510372 frs-core:PlantMachinery 2023-12-31 09510372 frs-core:PlantMachinery 2023-01-01 2023-12-31 09510372 frs-core:PlantMachinery 2022-12-31 09510372 frs-core:WithinOneYear 2023-12-31 09510372 frs-core:ShareCapital 2023-12-31 09510372 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09510372 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09510372 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09510372 frs-bus:SmallEntities 2023-01-01 2023-12-31 09510372 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09510372 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09510372 frs-bus:Director1 2023-01-01 2023-12-31 09510372 frs-bus:Director1 2022-12-31 09510372 frs-bus:Director1 2023-12-31 09510372 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 09510372 frs-core:CurrentFinancialInstruments 1 2023-12-31 09510372 frs-countries:EnglandWales 2023-01-01 2023-12-31 09510372 2021-12-31 09510372 2022-12-31 09510372 2022-01-01 2022-12-31 09510372 frs-core:CurrentFinancialInstruments 2022-12-31 09510372 frs-core:Non-currentFinancialInstruments 2022-12-31 09510372 frs-core:BetweenOneFiveYears 2022-12-31 09510372 frs-core:WithinOneYear 2022-12-31 09510372 frs-core:ShareCapital 2022-12-31 09510372 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 09510372 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 09510372
Root Group Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
TaxAssist Gloucester & Cheltenham
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09510372
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 119,053 53,864
119,053 53,864
CURRENT ASSETS
Stocks 5 270,386 210,908
Debtors 6 950,415 172,232
Cash at bank and in hand 71,581 122,537
1,292,382 505,677
Creditors: Amounts Falling Due Within One Year 7 (1,254,667 ) (360,717 )
NET CURRENT ASSETS (LIABILITIES) 37,715 144,960
TOTAL ASSETS LESS CURRENT LIABILITIES 156,768 198,824
Creditors: Amounts Falling Due After More Than One Year 8 (44,762 ) (57,871 )
NET ASSETS 112,006 140,953
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 112,005 140,952
SHAREHOLDERS' FUNDS 112,006 140,953
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For the year 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 Samuel Swift
Director
27/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Root Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09510372 . The registered office is Freedom House Rutherford Way, Swindon Village, Cheltenham, GL51 9TU.
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. 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 20% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
Computer Equipment 33.33% straight line
2.4. 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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 13)
13 13
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 13,347 90,626 800 - 104,773
Additions 35,656 62,872 - 4,561 103,089
As at 31 December 2023 49,003 153,498 800 4,561 207,862
Depreciation
As at 1 January 2023 12,583 38,166 160 - 50,909
Provided during the period 7,387 28,833 160 1,520 37,900
As at 31 December 2023 19,970 66,999 320 1,520 88,809
Net Book Value
As at 31 December 2023 29,033 86,499 480 3,041 119,053
As at 1 January 2023 764 52,460 640 - 53,864
5. Stocks
2023 2022
£ £
Stock - 200,000
Work in progress 270,386 10,908
270,386 210,908
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 68,126 10,774
Prepayments and accrued income 698,840 -
Other debtors 183,449 143,501
Director's loan account - 17,957
950,415 172,232
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,105 -
Trade creditors 161,376 80,022
Bank loans and overdrafts 5,556 5,556
Corporation tax 34,901 34,901
Other taxes and social security 237,827 121,547
VAT 173,247 83,834
Other creditors 606,000 -
Pensions payable 23,989 31,593
Accruals and deferred income 3,264 3,264
Director's loan account 4,402 -
1,254,667 360,717
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 14,669 22,223
Bank loans 30,093 35,648
44,762 57,871
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,105 -
Later than one year and not later than five years 14,669 22,223
18,774 22,223
18,774 22,223
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Samuel Swift 17,957 71,942 94,301 - 4,402
The above loan is unsecured, interest free and repayable on demand.
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