Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 10017426 Mr Steven Timmis S Timmis true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10017426 2023-02-28 10017426 2024-02-29 10017426 2023-03-01 2024-02-29 10017426 frs-core:CurrentFinancialInstruments 2024-02-29 10017426 frs-core:Non-currentFinancialInstruments 2024-02-29 10017426 frs-core:ComputerEquipment 2024-02-29 10017426 frs-core:ComputerEquipment 2023-03-01 2024-02-29 10017426 frs-core:ComputerEquipment 2023-02-28 10017426 frs-core:FurnitureFittings 2024-02-29 10017426 frs-core:FurnitureFittings 2023-03-01 2024-02-29 10017426 frs-core:FurnitureFittings 2023-02-28 10017426 frs-core:OtherResidualIntangibleAssets 2024-02-29 10017426 frs-core:OtherResidualIntangibleAssets 2023-02-28 10017426 frs-core:PlantMachinery 2024-02-29 10017426 frs-core:PlantMachinery 2023-03-01 2024-02-29 10017426 frs-core:PlantMachinery 2023-02-28 10017426 frs-core:ShareCapital 2024-02-29 10017426 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 10017426 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10017426 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 10017426 frs-bus:SmallEntities 2023-03-01 2024-02-29 10017426 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10017426 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10017426 1 2023-03-01 2024-02-29 10017426 frs-bus:Director1 2023-03-01 2024-02-29 10017426 frs-countries:EnglandWales 2023-03-01 2024-02-29 10017426 2022-02-28 10017426 2023-02-28 10017426 2022-03-01 2023-02-28 10017426 frs-core:CurrentFinancialInstruments 2023-02-28 10017426 frs-core:Non-currentFinancialInstruments 2023-02-28 10017426 frs-core:ShareCapital 2023-02-28 10017426 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 10017426
Sempar Accountancy and Tax Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10017426
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 4,495 4,495
Tangible Assets 4 26,685 39,399
31,180 43,894
CURRENT ASSETS
Debtors 5 205,806 170,926
Cash at bank and in hand 190,787 156,551
396,593 327,477
Creditors: Amounts Falling Due Within One Year 6 (274,470 ) (205,057 )
NET CURRENT ASSETS (LIABILITIES) 122,123 122,420
TOTAL ASSETS LESS CURRENT LIABILITIES 153,303 166,314
Creditors: Amounts Falling Due After More Than One Year 7 (45,000 ) (65,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,582 ) (8,242 )
NET ASSETS 102,721 93,072
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 102,621 92,972
SHAREHOLDERS' FUNDS 102,721 93,072
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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 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 Steven Timmis
Director
30 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 25% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
1.4. 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.
1.5. 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 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.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 24)
28 24
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3. Intangible Assets
Other
£
Cost
As at 1 March 2023 4,495
As at 29 February 2024 4,495
Net Book Value
As at 29 February 2024 4,495
As at 1 March 2023 4,495
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 4,602 23,336 63,150 91,088
Additions - 460 4,541 5,001
As at 29 February 2024 4,602 23,796 67,691 96,089
Depreciation
As at 1 March 2023 2,806 5,552 43,331 51,689
Provided during the period 449 3,649 13,617 17,715
As at 29 February 2024 3,255 9,201 56,948 69,404
Net Book Value
As at 29 February 2024 1,347 14,595 10,743 26,685
As at 1 March 2023 1,796 17,784 19,819 39,399
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 81,375 68,924
Prepayments and accrued income 16,060 29,135
Other debtors 61,504 41,119
Director's loan account 46,867 31,748
205,806 170,926
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,044 53,915
Bank loans and overdrafts 21,880 20,000
Corporation tax 55,014 28,268
Other taxes and social security 14,381 29,221
VAT 76,341 59,319
Other creditors 3,968 2,709
Accruals and deferred income 49,842 11,625
274,470 205,057
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 45,000 65,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Exceptional Items
Exceptional costs relate to bad debt with a connected company.
10. Ultimate Controlling Party
The company's ultimate controlling party is S Timmis by virtue of his ownership of 90% of the issued share capital in the company.
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