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 06086587 Mr Andrew Featherstone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06086587 2023-03-31 06086587 2024-03-31 06086587 2023-04-01 2024-03-31 06086587 frs-core:CurrentFinancialInstruments 2024-03-31 06086587 frs-core:Non-currentFinancialInstruments 2024-03-31 06086587 frs-core:ComputerEquipment 2024-03-31 06086587 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06086587 frs-core:ComputerEquipment 2023-03-31 06086587 frs-core:FurnitureFittings 2024-03-31 06086587 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06086587 frs-core:FurnitureFittings 2023-03-31 06086587 frs-core:ShareCapital 2024-03-31 06086587 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06086587 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06086587 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06086587 frs-bus:SmallEntities 2023-04-01 2024-03-31 06086587 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06086587 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06086587 frs-bus:Director1 2023-04-01 2024-03-31 06086587 frs-bus:Director1 2023-03-31 06086587 frs-bus:Director1 2024-03-31 06086587 frs-countries:EnglandWales 2023-04-01 2024-03-31 06086587 2022-03-31 06086587 2023-03-31 06086587 2022-04-01 2023-03-31 06086587 frs-core:CurrentFinancialInstruments 2023-03-31 06086587 frs-core:Non-currentFinancialInstruments 2023-03-31 06086587 frs-core:ShareCapital 2023-03-31 06086587 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06086587
FASED LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06086587
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 1,265 1,886
1,265 1,886
CURRENT ASSETS
Debtors 4 52,952 39,289
Cash at bank and in hand 5,551 11,060
58,503 50,349
Creditors: Amounts Falling Due Within One Year 5 (45,438 ) (35,230 )
NET CURRENT ASSETS (LIABILITIES) 13,065 15,119
TOTAL ASSETS LESS CURRENT LIABILITIES 14,330 17,005
Creditors: Amounts Falling Due After More Than One Year 6 (13,885 ) (16,594 )
NET ASSETS 445 411
CAPITAL AND RESERVES
Called up share capital 7 20 20
Profit and Loss Account 425 391
SHAREHOLDERS' FUNDS 445 411
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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 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 Featherstone
Director
5th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
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:
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
1.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
1.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
2. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
3. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 2,916 6,648 9,564
Additions 129 - 129
As at 31 March 2024 3,045 6,648 9,693
Depreciation
As at 1 April 2023 1,558 6,120 7,678
Provided during the period 223 527 750
As at 31 March 2024 1,781 6,647 8,428
Net Book Value
As at 31 March 2024 1,264 1 1,265
As at 1 April 2023 1,358 528 1,886
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4. Debtors
2024 2023
£ £
Due within one year
Other debtors 9,913 9,913
Other taxes and social security - 4
Directors' loan accounts 43,039 29,372
52,952 39,289
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,245 3,313
Corporation tax 34,089 25,420
Other taxes and social security 470 -
VAT 7,634 6,497
45,438 35,230
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,885 16,594
13,885 16,594
The Bank loan relates to a Bounce Back Loan facility provided by Santander UK plc. The interest is secured by the government for the first 12 months followed by a rate of 2.5% fixed for up to 10 years. The loan capital is secured by HM Government.
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Andrew Featherstone 29,371 13,668 - - 43,039
The above loan is unsecured and repayable on demand.
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 83,500 65,500
83,500 65,500
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10. General Information
FASED LIMITED Registered number 06086587 is a limited by shares company incorporated in England & Wales. The Registered Office is 82 High Street, Golborne, Warrington, WA3 3DA.
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