Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 07062789 Mrs Angelina Kohli Mr Victor Ioannides iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07062789 2023-10-31 07062789 2024-10-31 07062789 2023-11-01 2024-10-31 07062789 frs-core:CurrentFinancialInstruments 2024-10-31 07062789 frs-core:ComputerEquipment 2024-10-31 07062789 frs-core:ComputerEquipment 2023-11-01 2024-10-31 07062789 frs-core:ComputerEquipment 2023-10-31 07062789 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-10-31 07062789 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-01 2024-10-31 07062789 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-31 07062789 frs-core:FurnitureFittings 2024-10-31 07062789 frs-core:FurnitureFittings 2023-11-01 2024-10-31 07062789 frs-core:FurnitureFittings 2023-10-31 07062789 frs-core:NetGoodwill 2024-10-31 07062789 frs-core:NetGoodwill 2023-11-01 2024-10-31 07062789 frs-core:NetGoodwill 2023-10-31 07062789 frs-core:ShareCapital 2024-10-31 07062789 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 07062789 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 07062789 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 07062789 frs-bus:SmallEntities 2023-11-01 2024-10-31 07062789 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 07062789 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 07062789 frs-core:ListedExchangeTraded 2024-10-31 07062789 frs-core:ListedExchangeTraded 2023-10-31 07062789 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-10-31 07062789 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-10-31 07062789 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-10-31 07062789 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-10-31 07062789 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-10-31 07062789 frs-bus:Director1 2023-11-01 2024-10-31 07062789 frs-bus:Director2 2023-11-01 2024-10-31 07062789 frs-core:CurrentFinancialInstruments 1 2024-10-31 07062789 frs-core:CurrentFinancialInstruments 4 2024-10-31 07062789 frs-countries:EnglandWales 2023-11-01 2024-10-31 07062789 2022-10-31 07062789 2023-10-31 07062789 2022-11-01 2023-10-31 07062789 frs-core:CurrentFinancialInstruments 2023-10-31 07062789 frs-core:ShareCapital 2023-10-31 07062789 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07062789 frs-core:CurrentFinancialInstruments 1 2023-10-31 07062789 frs-core:CurrentFinancialInstruments 4 2023-10-31
Registered number: 07062789
Libra Financial Management (UK) Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
TaxAssist Accountants Swiss Cottage
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07062789
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 46,928 3,024
Tangible Assets 5 3,180 2,273
Investments 6 38,359 22,634
88,467 27,931
CURRENT ASSETS
Debtors 7 1,729,027 1,717,924
Cash at bank and in hand 396,686 394,618
2,125,713 2,112,542
Creditors: Amounts Falling Due Within One Year 8 (116,650 ) (105,858 )
NET CURRENT ASSETS (LIABILITIES) 2,009,063 2,006,684
TOTAL ASSETS LESS CURRENT LIABILITIES 2,097,530 2,034,615
NET ASSETS 2,097,530 2,034,615
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 2,097,529 2,034,614
SHAREHOLDERS' FUNDS 2,097,530 2,034,615
Page 1
Page 2
For the year ending 31 October 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
Mrs Angelina Kohli
Director
02/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Libra Financial Management (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07062789 . The registered office is 18 Barkat House 116-118 Finchley Road, London, NW3 5HT.
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.
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. 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 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are website development costs. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. 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:
Fixtures & Fittings 25% RBM
Computer Equipment 25% RBM
2.6. 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.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
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4. Intangible Assets
Goodwill Development Costs Total
£ £ £
Cost
As at 1 November 2023 160,000 4,320 164,320
Additions - 55,960 55,960
As at 31 October 2024 160,000 60,280 220,280
Amortisation
As at 1 November 2023 160,000 1,296 161,296
Provided during the period - 12,056 12,056
As at 31 October 2024 160,000 13,352 173,352
Net Book Value
As at 31 October 2024 - 46,928 46,928
As at 1 November 2023 - 3,024 3,024
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 1,255 4,354 5,609
Additions - 1,968 1,968
As at 31 October 2024 1,255 6,322 7,577
Depreciation
As at 1 November 2023 858 2,478 3,336
Provided during the period 99 962 1,061
As at 31 October 2024 957 3,440 4,397
Net Book Value
As at 31 October 2024 298 2,882 3,180
As at 1 November 2023 397 1,876 2,273
6. Investments
Listed
£
Cost
As at 1 November 2023 22,634
Revaluations 15,725
As at 31 October 2024 38,359
Provision
As at 1 November 2023 -
As at 31 October 2024 -
...CONTINUED
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Net Book Value
As at 31 October 2024 38,359
As at 1 November 2023 22,634
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 11,103 -
Other debtor- Nicos Rossos Insurance Brokers Limited 1,717,924 1,717,924
1,729,027 1,717,924
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 7,351 7,403
Corporation tax 86,412 90,117
Other taxes and social security 12,430 5,002
Pension account 1,015 -
Accruals and deferred income 4,408 3,336
Directors' loan accounts 5,034 -
116,650 105,858
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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