Acorah Software Products - Accounts Production 15.0.600 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07255887 Mr A D Procter true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07255887 2023-08-31 07255887 2024-08-31 07255887 2023-09-01 2024-08-31 07255887 frs-core:CurrentFinancialInstruments 2024-08-31 07255887 frs-core:Non-currentFinancialInstruments 2024-08-31 07255887 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 07255887 frs-core:FurnitureFittings 2024-08-31 07255887 frs-core:FurnitureFittings 2023-09-01 2024-08-31 07255887 frs-core:FurnitureFittings 2023-08-31 07255887 frs-core:MotorVehicles 2024-08-31 07255887 frs-core:MotorVehicles 2023-09-01 2024-08-31 07255887 frs-core:MotorVehicles 2023-08-31 07255887 frs-core:OtherResidualIntangibleAssets 2024-08-31 07255887 frs-core:OtherResidualIntangibleAssets 2023-08-31 07255887 frs-core:WithinOneYear 2024-08-31 07255887 frs-core:ShareCapital 2024-08-31 07255887 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07255887 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07255887 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07255887 frs-bus:SmallEntities 2023-09-01 2024-08-31 07255887 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07255887 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07255887 1 2023-09-01 2024-08-31 07255887 frs-bus:Director1 2023-09-01 2024-08-31 07255887 frs-countries:EnglandWales 2023-09-01 2024-08-31 07255887 2022-08-31 07255887 2023-08-31 07255887 2022-09-01 2023-08-31 07255887 frs-core:CurrentFinancialInstruments 2023-08-31 07255887 frs-core:Non-currentFinancialInstruments 2023-08-31 07255887 frs-core:BetweenOneFiveYears 2023-08-31 07255887 frs-core:WithinOneYear 2023-08-31 07255887 frs-core:ShareCapital 2023-08-31 07255887 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 07255887
Procter And Co Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07255887
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,465 3,784
3,465 3,784
CURRENT ASSETS
Debtors 6 102,038 86,523
Cash at bank and in hand 9,353 12,381
111,391 98,904
Creditors: Amounts Falling Due Within One Year 7 (84,127 ) (42,035 )
NET CURRENT ASSETS (LIABILITIES) 27,264 56,869
TOTAL ASSETS LESS CURRENT LIABILITIES 30,729 60,653
Creditors: Amounts Falling Due After More Than One Year 8 (9,167 ) (17,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (645 )
NET ASSETS 21,562 42,508
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 21,462 42,408
SHAREHOLDERS' FUNDS 21,562 42,508
Page 1
Page 2
For the year ending 31 August 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 Income Statement.
On behalf of the board
Mr A D Procter
Director
08/11/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Procter And Co Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07255887 . The registered office is 1 High Street, Skipton, North Yorkshire, BD23 1AJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared under the historical cost basis.
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 receivable for services rendered, net of discounts and Valued Added Tax.
Sales commission is invoiced and recognised on completion of property sales.
Lettings commission is invoiced and recognised in the period to which it relates.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses. They are amortised to income statement overt their estimated economic life of 10 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
2.7. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Page 3
Page 4
2.8. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 in finance costs in profit or loss in the period is arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 20,516
As at 31 August 2024 20,516
Amortisation
As at 1 September 2023 20,516
As at 31 August 2024 20,516
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 2,854 26,854 29,708
Additions - 608 608
As at 31 August 2024 2,854 27,462 30,316
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 September 2023 1,650 24,274 25,924
Provided during the period 226 701 927
As at 31 August 2024 1,876 24,975 26,851
Net Book Value
As at 31 August 2024 978 2,487 3,465
As at 1 September 2023 1,204 2,580 3,784
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,418 -
Prepayments and accrued income 64,872 47,654
Other debtors 35,748 38,150
Corporation tax recoverable assets - 719
102,038 86,523
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,144 6,874
Bank loans and overdrafts 10,000 10,000
Corporation tax 374 -
Other taxes and social security 24,175 13,126
VAT 32,333 9,902
Accruals and deferred income 2,100 2,100
Director's loan account 1 33
84,127 42,035
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,167 17,500
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 16,042 17,500
Later than one year and not later than five years - 16,042
16,042 33,542
Page 5
Page 6
10. Pension Commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,699 (2023 - £4,449).
Contributions totalling £nil (2023 - £nil) were payable to the fund at the year end, and are included in creditors: amounts falling due within one year.
11. Related Party Transactions
During the year, dividends of £nil (2023 - £15,000) were paid to the director.
Included in creditors: amounts falling due within one year, is a directors loan account balance of £1 (2023 - £33) owing to Mr A D Procter.
The loan is interest free and repayable on demand.
12. Ultimate Controlling Party
The company is under the control of Mr A D Procter, who is interested in 96% of the company's issued share capital.
Page 6