Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11192839 Mr Andrew Davies Mr Bill Crank Mrs Anna Davies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11192839 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2024-02-29 11192839 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-02-29 11192839 2023-02-28 11192839 2024-02-29 11192839 2023-03-01 2024-02-29 11192839 frs-core:CurrentFinancialInstruments 2024-02-29 11192839 frs-core:Non-currentFinancialInstruments 2024-02-29 11192839 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 11192839 frs-core:NetGoodwill 2024-02-29 11192839 frs-core:NetGoodwill 2023-03-01 2024-02-29 11192839 frs-core:NetGoodwill 2023-02-28 11192839 frs-core:OtherResidualIntangibleAssets 2024-02-29 11192839 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 11192839 frs-core:OtherResidualIntangibleAssets 2023-02-28 11192839 frs-core:PlantMachinery 2024-02-29 11192839 frs-core:PlantMachinery 2023-03-01 2024-02-29 11192839 frs-core:PlantMachinery 2023-02-28 11192839 frs-core:SharePremium 2024-02-29 11192839 frs-core:ShareCapital 2024-02-29 11192839 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11192839 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11192839 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11192839 frs-bus:SmallEntities 2023-03-01 2024-02-29 11192839 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11192839 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11192839 frs-bus:Director1 2023-03-01 2024-02-29 11192839 frs-bus:Director1 2023-02-28 11192839 frs-bus:Director1 2024-02-29 11192839 frs-bus:Director2 2023-03-01 2024-02-29 11192839 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 11192839 frs-core:CurrentFinancialInstruments 2 2024-02-29 11192839 frs-countries:EnglandWales 2023-03-01 2024-02-29 11192839 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-02-28 11192839 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-02-28 11192839 2022-02-28 11192839 2023-02-28 11192839 2022-03-01 2023-02-28 11192839 frs-core:CurrentFinancialInstruments 2023-02-28 11192839 frs-core:Non-currentFinancialInstruments 2023-02-28 11192839 frs-core:SharePremium 2023-02-28 11192839 frs-core:ShareCapital 2023-02-28 11192839 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 11192839 frs-core:CurrentFinancialInstruments 2 2023-02-28
Registered number: 11192839
Iwithacircle Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11192839
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,061 8,164
Tangible Assets 5 3,515 2,034
33,576 10,198
CURRENT ASSETS
Debtors 6 595,776 435,897
Cash at bank and in hand 44,703 811
640,479 436,708
Creditors: Amounts Falling Due Within One Year 7 (1,272,249 ) (286,249 )
NET CURRENT ASSETS (LIABILITIES) (631,770 ) 150,459
TOTAL ASSETS LESS CURRENT LIABILITIES (598,194 ) 160,657
Creditors: Amounts Falling Due After More Than One Year 8 (205,557 ) (29,457 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (539 )
NET (LIABILITIES)/ASSETS (803,751 ) 130,661
CAPITAL AND RESERVES
Called up share capital 10 105 105
Share premium account 5,000 5,000
Profit and Loss Account (808,856 ) 125,556
SHAREHOLDERS' FUNDS (803,751) 130,661
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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 Andrew Davies
Director
29 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
Iwithacircle Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11192839 . The registered office is Merlin House Priory Drive, Langstone, Newport, Wales, NP18 2HJ.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary 
amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are the acquisiton of software and platforms. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.6. 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 5 Years straight line
2.7. 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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2.8. 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: 8 (2023: 4)
8 4
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 March 2023 61,054 57,695 118,749
Additions 32,707 - 32,707
As at 29 February 2024 93,761 57,695 151,456
Amortisation
As at 1 March 2023 61,054 49,531 110,585
Provided during the period 6,541 4,269 10,810
As at 29 February 2024 67,595 53,800 121,395
Net Book Value
As at 29 February 2024 26,166 3,895 30,061
As at 1 March 2023 - 8,164 8,164
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 12,912
Additions 2,638
As at 29 February 2024 15,550
Depreciation
As at 1 March 2023 10,878
Provided during the period 1,157
As at 29 February 2024 12,035
Net Book Value
As at 29 February 2024 3,515
As at 1 March 2023 2,034
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 80,719 5,376
Prepayments and accrued income - 2,505
Corporation tax recoverable assets 30,102 -
VAT 145,233 9,896
Directors' loan accounts - 144,928
Amounts owed by associates 339,722 273,192
595,776 435,897
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 921,413 126,377
Bank loans and overdrafts 86,706 110,417
Corporation tax 32,323 30,082
Other taxes and social security 128,911 1,943
Net wages 29,655 -
Other creditors 18,359 3,597
Pensions 5,760 -
Accruals and deferred income 1,097 13,833
Directors' loan accounts 48,025 -
1,272,249 286,249
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 205,557 29,457
205,557 29,457
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 86,706 110,417
86,706 110,417
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 205,557 29,457
205,557 29,457
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 105 105
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Andrew Davies 172,371 138,674 359,069 - (48,024 )
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Disclosures
At the balance sheet date, the company were owed £339,722 (2023: £273,192) by Digital Peaks Technology Ltd, of which Andrew Davies is also a director. There were sales of £77,670 (2023: £273,192 ) in the year to this company. 
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