Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08726722 Mr John Moss Mrs Gemma Moss iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08726722 2023-04-30 08726722 2024-04-30 08726722 2023-05-01 2024-04-30 08726722 frs-core:CurrentFinancialInstruments 2024-04-30 08726722 frs-core:Non-currentFinancialInstruments 2024-04-30 08726722 frs-core:ComputerEquipment 2024-04-30 08726722 frs-core:ComputerEquipment 2023-05-01 2024-04-30 08726722 frs-core:ComputerEquipment 2023-04-30 08726722 frs-core:FurnitureFittings 2024-04-30 08726722 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08726722 frs-core:FurnitureFittings 2023-04-30 08726722 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 08726722 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08726722 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 08726722 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08726722 frs-core:ShareCapital 2024-04-30 08726722 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08726722 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08726722 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08726722 frs-bus:SmallEntities 2023-05-01 2024-04-30 08726722 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08726722 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08726722 frs-bus:Director1 2023-05-01 2024-04-30 08726722 frs-bus:Director2 2023-05-01 2024-04-30 08726722 frs-core:CurrentFinancialInstruments 1 2024-04-30 08726722 frs-countries:EnglandWales 2023-05-01 2024-04-30 08726722 2022-04-30 08726722 2023-04-30 08726722 2022-05-01 2023-04-30 08726722 frs-core:CurrentFinancialInstruments 2023-04-30 08726722 frs-core:Non-currentFinancialInstruments 2023-04-30 08726722 frs-core:ShareCapital 2023-04-30 08726722 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 08726722 frs-core:CurrentFinancialInstruments 1 2023-04-30
Registered number: 08726722
KFP Total It Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Brookwood Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08726722
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 150,142 176,670
150,142 176,670
CURRENT ASSETS
Stocks 5 431,176 324,134
Debtors 6 1,105,855 1,372,386
Cash at bank and in hand 344,658 434,942
1,881,689 2,131,462
Creditors: Amounts Falling Due Within One Year 7 (1,295,340 ) (1,567,211 )
NET CURRENT ASSETS (LIABILITIES) 586,349 564,251
TOTAL ASSETS LESS CURRENT LIABILITIES 736,491 740,921
Creditors: Amounts Falling Due After More Than One Year 8 (75,000 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (30,525 ) (34,111 )
NET ASSETS 630,966 706,810
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 620,966 696,810
SHAREHOLDERS' FUNDS 630,966 706,810
Page 1
Page 2
For the year ending 30 April 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 John Moss
Director
14/07/2024
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
KFP Total It Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08726722 . The registered office is 4 Foxcombe Court, Wyndyke Furlong, Abingdon, OX14 1DZ.
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:
Freehold 2% straight line
Leasehold 10% straight line
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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: 70 (2023: 60)
70 60
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 13,625 307,783 97,848 419,256
Additions - 16,623 3,945 20,568
Disposals - (28,274 ) (56,540 ) (84,814 )
As at 30 April 2024 13,625 296,132 45,253 355,010
Depreciation
As at 1 May 2023 6,813 173,565 62,208 242,586
Provided during the period 1,363 18,208 6,850 26,421
Disposals - (15,558 ) (48,581 ) (64,139 )
As at 30 April 2024 8,176 176,215 20,477 204,868
Net Book Value
As at 30 April 2024 5,449 119,917 24,776 150,142
As at 1 May 2023 6,812 134,218 35,640 176,670
5. Stocks
2024 2023
£ £
Stock 431,176 324,134
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 959,741 1,229,028
Prepayments and accrued income 143,082 52,423
Other debtors 3,032 90,935
1,105,855 1,372,386
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 909,464 943,264
Bank loans and overdrafts 150,000 -
Corporation tax 12,194 105,227
Other taxes and social security 66,559 80,642
VAT 152,645 168,703
Accrued expenses 4,478 5,096
Accruals and deferred income - 264,279
1,295,340 1,567,211
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 75,000 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
10. Related Party
The shareholders of KFP Total IT Solutions Ltd also own 100% of the following overseas Companies:
KFP European IT Services Limited
Location: Ireland
Company registration: 0601725
Date incorporated: 04/04/2017
KFP Total IT Solutions B.V
Location: Netherlands
Company registration: 8258 6128
Date incorporated: 20/04/2021
KFP Total IT Solutions GmbH
Location: Germany
Company registration: HRB 278632 
Date incorporated: 26/08/2022
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