Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 12439217 Mr Brett Watson Mr Philip Starling Mr David Birch Miss Abbie Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12439217 2023-02-28 12439217 2024-02-29 12439217 2023-03-01 2024-02-29 12439217 frs-core:CurrentFinancialInstruments 2024-02-29 12439217 frs-core:ComputerEquipment 2024-02-29 12439217 frs-core:ComputerEquipment 2023-03-01 2024-02-29 12439217 frs-core:ComputerEquipment 2023-02-28 12439217 frs-core:FurnitureFittings 2024-02-29 12439217 frs-core:FurnitureFittings 2023-03-01 2024-02-29 12439217 frs-core:FurnitureFittings 2023-02-28 12439217 frs-core:PlantMachinery 2024-02-29 12439217 frs-core:PlantMachinery 2023-03-01 2024-02-29 12439217 frs-core:PlantMachinery 2023-02-28 12439217 frs-core:ShareCapital 2024-02-29 12439217 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12439217 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12439217 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12439217 frs-bus:SmallEntities 2023-03-01 2024-02-29 12439217 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12439217 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12439217 frs-bus:Director1 2023-03-01 2024-02-29 12439217 frs-bus:Director2 2023-03-01 2024-02-29 12439217 frs-bus:Director3 2023-03-01 2024-02-29 12439217 frs-bus:Director4 2023-03-01 2024-02-29 12439217 frs-core:CurrentFinancialInstruments 1 2024-02-29 12439217 frs-core:CurrentFinancialInstruments 2 2024-02-29 12439217 frs-countries:EnglandWales 2023-03-01 2024-02-29 12439217 2022-02-28 12439217 2023-02-28 12439217 2022-03-01 2023-02-28 12439217 frs-core:CurrentFinancialInstruments 2023-02-28 12439217 frs-core:ShareCapital 2023-02-28 12439217 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 12439217 frs-core:CurrentFinancialInstruments 1 2023-02-28 12439217 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 12439217
One Group Solutions Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12439217
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,083 19,825
22,083 19,825
CURRENT ASSETS
Debtors 5 183,992 260,613
Cash at bank and in hand 133,406 163,244
317,398 423,857
Creditors: Amounts Falling Due Within One Year 6 (163,167 ) (205,256 )
NET CURRENT ASSETS (LIABILITIES) 154,231 218,601
TOTAL ASSETS LESS CURRENT LIABILITIES 176,314 238,426
NET ASSETS 176,314 238,426
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 176,214 238,326
SHAREHOLDERS' FUNDS 176,314 238,426
Page 1
Page 2
For the year ending 29 February 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 Brett Watson
Director
Mr Philip Starling
Director
30th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
One Group Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12439217 . The registered office is 80 Newtown Road, Marlow, SL7 1LQ.
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% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% straight line
2.4. 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 year 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 asset reflects 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: 5 (2023: 3)
5 3
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 11,807 12,248 - 24,055
Additions - 6,333 599 6,932
As at 29 February 2024 11,807 18,581 599 30,987
Depreciation
As at 1 March 2023 1,946 2,284 - 4,230
Provided during the period 1,972 2,521 181 4,674
As at 29 February 2024 3,918 4,805 181 8,904
Net Book Value
As at 29 February 2024 7,889 13,776 418 22,083
As at 1 March 2023 9,861 9,964 - 19,825
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 139,381 170,039
Prepayments and accrued income 11,634 10,871
Other debtors 342 342
Other debtors (1) 6,250 6,250
Other taxes & social security (Debtors < 1 year) 56 -
VAT 23,669 71,676
Directors' loan accounts 2,660 1,435
183,992 260,613
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 77,468 97,412
Corporation tax 63,950 43,828
Other taxes and social security - 2,655
Net wages 640 -
Other creditors (creditors < 1 year) - 1,740
Intercompany Loan Account (Creditors <1 year) 5,868 40,000
Accruals and deferred income 1,016 2,120
Directors' loan accounts 14,225 17,501
163,167 205,256
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4