Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 March 2024 31 March 2024 07313948 Mr B S Nilsson Mr A E Nicklin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07313948 2022-12-31 07313948 2024-03-31 07313948 2023-01-01 2024-03-31 07313948 frs-core:CurrentFinancialInstruments 2024-03-31 07313948 frs-core:BetweenOneFiveYears 2024-03-31 07313948 frs-core:ComputerEquipment 2024-03-31 07313948 frs-core:ComputerEquipment 2023-01-01 2024-03-31 07313948 frs-core:ComputerEquipment 2022-12-31 07313948 frs-core:FurnitureFittings 2024-03-31 07313948 frs-core:FurnitureFittings 2023-01-01 2024-03-31 07313948 frs-core:FurnitureFittings 2022-12-31 07313948 frs-core:PlantMachinery 2024-03-31 07313948 frs-core:PlantMachinery 2023-01-01 2024-03-31 07313948 frs-core:PlantMachinery 2022-12-31 07313948 frs-core:WithinOneYear 2024-03-31 07313948 frs-core:ShareCapital 2024-03-31 07313948 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07313948 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 07313948 frs-bus:FilletedAccounts 2023-01-01 2024-03-31 07313948 frs-bus:SmallEntities 2023-01-01 2024-03-31 07313948 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 07313948 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-03-31 07313948 frs-bus:Director1 2023-01-01 2024-03-31 07313948 frs-bus:Director2 2023-01-01 2024-03-31 07313948 frs-countries:EnglandWales 2023-01-01 2024-03-31 07313948 2021-12-31 07313948 2022-12-31 07313948 2022-01-01 2022-12-31 07313948 frs-core:CurrentFinancialInstruments 2022-12-31 07313948 frs-core:BetweenOneFiveYears 2022-12-31 07313948 frs-core:WithinOneYear 2022-12-31 07313948 frs-core:ShareCapital 2022-12-31 07313948 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 07313948
Virtuoso Partners Limited
Unaudited Financial Statements
For the Period 1 January 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07313948
31 March 2024 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,935 10,016
10,935 10,016
CURRENT ASSETS
Debtors 5 1,900,829 2,610,566
Cash at bank and in hand 562,092 394,929
2,462,921 3,005,495
Creditors: Amounts Falling Due Within One Year 6 (2,451,290 ) (2,859,753 )
NET CURRENT ASSETS (LIABILITIES) 11,631 145,742
TOTAL ASSETS LESS CURRENT LIABILITIES 22,566 155,758
NET ASSETS 22,566 155,758
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 22,366 155,558
SHAREHOLDERS' FUNDS 22,566 155,758
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For the period 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.
On behalf of the board
Mr B S Nilsson
Director
21/11/2024
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
Virtuoso Partners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07313948 . The registered office is Oriel House, 26 The Quadrant, Richmond, TW9 1DL.
The reporting period covered in these accounts is 15 months and therefore the comparatives are not entirely comparable.
A reclassification of cost lines from administrative expenses to cost of sales has been made in the current year, and comparatives have been restated accordingly.  This has the effect in the prior year period of increasing cost of sales by £58,864, and reducing gross profit and administrative expenses by the same amount.  There is no effect on operating or net profit as a result of this reclassification.
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. 
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. 
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 100% straight line, commencing date of purchase
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. 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 material 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.
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.
The company also contributes to the directors own pension funds, and contributions are charged to the profit and loss account as they are paid.
3. Average Number of Employees
Average number of employees during the year was as follows: 15 (2022: 10)
15 10
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 5,295 1,066 15,680 22,041
Additions - 1,029 6,541 7,570
As at 31 March 2024 5,295 2,095 22,221 29,611
...CONTINUED
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Depreciation
As at 1 January 2023 3,089 1,066 7,870 12,025
Provided during the period 2,206 150 4,295 6,651
As at 31 March 2024 5,295 1,216 12,165 18,676
Net Book Value
As at 31 March 2024 - 879 10,056 10,935
As at 1 January 2023 2,206 - 7,810 10,016
5. Debtors
31 March 2024 31 December 2022
£ £
Due within one year
Trade debtors 621,733 1,560,871
Other debtors 1,279,096 1,049,695
1,900,829 2,610,566
Included within other debtors are loans to the directors which total £78,021.  Interest has been charged on these loans at the HMRC Beneficial Loans interest rate.  The outstanding balances are intended to be repaid within 9 months of the accounting period end date.
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 December 2022
£ £
Trade creditors 173,745 547,454
Other creditors 2,072,711 1,994,131
Taxation and social security 204,834 318,168
2,451,290 2,859,753
7. Share Capital
31 March 2024 31 December 2022
£ £
Allotted, Called up and fully paid 200 200
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8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2024 31 December 2022
£ £
Not later than one year 8,947 4,574
Later than one year and not later than five years 29,512 17,292
38,459 21,866
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