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 04810605 Mr A Walker Mrs P J Walker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04810605 2023-03-31 04810605 2024-03-31 04810605 2023-04-01 2024-03-31 04810605 frs-core:CurrentFinancialInstruments 2024-03-31 04810605 frs-core:BetweenOneFiveYears 2024-03-31 04810605 frs-core:ComputerEquipment 2024-03-31 04810605 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04810605 frs-core:ComputerEquipment 2023-03-31 04810605 frs-core:FurnitureFittings 2024-03-31 04810605 frs-core:FurnitureFittings 2023-04-01 2024-03-31 04810605 frs-core:FurnitureFittings 2023-03-31 04810605 frs-core:NetGoodwill 2024-03-31 04810605 frs-core:NetGoodwill 2023-04-01 2024-03-31 04810605 frs-core:NetGoodwill 2023-03-31 04810605 frs-core:PlantMachinery 2024-03-31 04810605 frs-core:PlantMachinery 2023-04-01 2024-03-31 04810605 frs-core:PlantMachinery 2023-03-31 04810605 frs-core:WithinOneYear 2024-03-31 04810605 frs-core:ShareCapital 2024-03-31 04810605 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04810605 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04810605 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04810605 frs-bus:SmallEntities 2023-04-01 2024-03-31 04810605 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04810605 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04810605 frs-bus:Director1 2023-04-01 2024-03-31 04810605 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04810605 frs-countries:EnglandWales 2023-04-01 2024-03-31 04810605 2022-03-31 04810605 2023-03-31 04810605 2022-04-01 2023-03-31 04810605 frs-core:CurrentFinancialInstruments 2023-03-31 04810605 frs-core:BetweenOneFiveYears 2023-03-31 04810605 frs-core:WithinOneYear 2023-03-31 04810605 frs-core:ShareCapital 2023-03-31 04810605 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04810605
ICU Group Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04810605
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,598 479
1,598 479
CURRENT ASSETS
Stocks 6 - 500
Debtors 7 107,813 113,295
Cash at bank and in hand 1,070,096 976,693
1,177,909 1,090,488
Creditors: Amounts Falling Due Within One Year 8 (275,634 ) (260,528 )
NET CURRENT ASSETS (LIABILITIES) 902,275 829,960
TOTAL ASSETS LESS CURRENT LIABILITIES 903,873 830,439
PROVISIONS FOR LIABILITIES
Deferred Taxation (399 ) (91 )
NET ASSETS 903,474 830,348
CAPITAL AND RESERVES
Called up share capital 9 1,001 1,001
Profit and Loss Account 902,473 829,347
SHAREHOLDERS' FUNDS 903,474 830,348
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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 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 A Walker
Director
18 November 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
ICU Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04810605 . The registered office is Cavendish House, Brighton Road, Liverpool, Merseyside, L22 5NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of value added tax, and is derived from the provision of computer and software consultancy. The turnover is recorded on an accruals basis.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
2.4. 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.
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 and machinery 25% straight line
Fixtures and fittings 25% straight line
Computer equipment 25% straight line
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.
2.6. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
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2.8. Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
2.10. Defined contribution plans
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: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 15,150
As at 31 March 2024 15,150
Amortisation
As at 1 April 2023 15,150
As at 31 March 2024 15,150
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
As at 1 April 2023 2,716 12,189 9,256 24,161
Additions - - 1,706 1,706
Disposals (2,716 ) (7,652 ) - (10,368 )
As at 31 March 2024 - 4,537 10,962 15,499
Depreciation
As at 1 April 2023 2,716 11,710 9,256 23,682
Provided during the period - 160 427 587
Disposals (2,716 ) (7,652 ) - (10,368 )
As at 31 March 2024 - 4,218 9,683 13,901
Net Book Value
As at 31 March 2024 - 319 1,279 1,598
As at 1 April 2023 - 479 - 479
6. Stocks
2024 2023
£ £
Work in progress - 500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 104,469 110,382
Other debtors 3,344 2,913
107,813 113,295
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,985 63,660
Other creditors 117,109 80,658
Taxation and social security 134,540 116,210
275,634 260,528
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,001 1,001
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 14,854 13,739
Later than one year and not later than five years 11,577 6,482
26,431 20,221
11. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
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