Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07576880 Mr Steven Van De Worp iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07576880 2023-03-31 07576880 2024-03-31 07576880 2023-04-01 2024-03-31 07576880 frs-core:CurrentFinancialInstruments 2024-03-31 07576880 frs-core:ComputerEquipment 2024-03-31 07576880 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07576880 frs-core:ComputerEquipment 2023-03-31 07576880 frs-core:ShareCapital 2024-03-31 07576880 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07576880 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07576880 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07576880 frs-bus:SmallEntities 2023-04-01 2024-03-31 07576880 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07576880 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07576880 frs-bus:Director1 2023-04-01 2024-03-31 07576880 frs-countries:EnglandWales 2023-04-01 2024-03-31 07576880 2022-03-31 07576880 2023-03-31 07576880 2022-04-01 2023-03-31 07576880 frs-core:CurrentFinancialInstruments 2023-03-31 07576880 frs-core:ShareCapital 2023-03-31 07576880 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07576880
Knights Agency Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
TI Accountancy
74 Duke Street
Barrow In Furness
Cumbria
LA14 1RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07576880
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,471 4,668
5,471 4,668
CURRENT ASSETS
Debtors 5 235,017 148,311
Cash at bank and in hand 290,073 342,248
525,090 490,559
Creditors: Amounts Falling Due Within One Year 6 (282,567 ) (221,694 )
NET CURRENT ASSETS (LIABILITIES) 242,523 268,865
TOTAL ASSETS LESS CURRENT LIABILITIES 247,994 273,533
NET ASSETS 247,994 273,533
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 247,894 273,433
SHAREHOLDERS' FUNDS 247,994 273,533
Page 1
Page 2
For the year ending 31 March 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 Van De Worp
Director
26/11/2024
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
Knights Agency Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07576880 . The registered office is Units A-J Austen House, Station View, Guildford, GU1 4AR.
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:
Computer Equipment 20% Reducing Balance
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: 7)
5 7
Page 3
Page 4
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 9,340
Additions 2,170
As at 31 March 2024 11,510
Depreciation
As at 1 April 2023 4,672
Provided during the period 1,367
As at 31 March 2024 6,039
Net Book Value
As at 31 March 2024 5,471
As at 1 April 2023 4,668
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 200,032 113,326
Other debtors 34,985 34,985
235,017 148,311
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 81,552 57,402
Bank loans and overdrafts 1,524 -
Corporation tax 89,861 92,418
Other taxes and social security 5,886 8,072
VAT 86,632 46,384
Other creditors 17,112 17,418
282,567 221,694
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4