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 NI610937 Mr Gavin Halpin Ms Gráinne McGuinness Mr Stephen Petticrew iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI610937 2023-03-31 NI610937 2024-03-31 NI610937 2023-04-01 2024-03-31 NI610937 frs-core:CurrentFinancialInstruments 2024-03-31 NI610937 frs-core:FurnitureFittings 2024-03-31 NI610937 frs-core:FurnitureFittings 2023-04-01 2024-03-31 NI610937 frs-core:FurnitureFittings 2023-03-31 NI610937 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI610937 frs-core:PlantMachinery 2024-03-31 NI610937 frs-core:PlantMachinery 2023-04-01 2024-03-31 NI610937 frs-core:PlantMachinery 2023-03-31 NI610937 frs-core:ShareCapital 2024-03-31 NI610937 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI610937 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI610937 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 NI610937 frs-bus:SmallEntities 2023-04-01 2024-03-31 NI610937 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 NI610937 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI610937 frs-bus:Director1 2023-04-01 2024-03-31 NI610937 frs-bus:Director2 2023-04-01 2024-03-31 NI610937 frs-bus:Director3 2023-04-01 2024-03-31 NI610937 frs-countries:NorthernIreland 2023-04-01 2024-03-31 NI610937 2022-03-31 NI610937 2023-03-31 NI610937 2022-04-01 2023-03-31 NI610937 frs-core:CurrentFinancialInstruments 2023-03-31 NI610937 frs-core:ShareCapital 2023-03-31 NI610937 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: NI610937
Paper Owl Films Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI610937
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 43,799 18,369
43,799 18,369
CURRENT ASSETS
Debtors 5 418,599 370,284
Cash at bank and in hand 118,576 54,491
537,175 424,775
Creditors: Amounts Falling Due Within One Year 6 (386,960 ) (341,471 )
NET CURRENT ASSETS (LIABILITIES) 150,215 83,304
TOTAL ASSETS LESS CURRENT LIABILITIES 194,014 101,673
NET ASSETS 194,014 101,673
CAPITAL AND RESERVES
Called up share capital 7 150 150
Profit and Loss Account 193,864 101,523
SHAREHOLDERS' FUNDS 194,014 101,673
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 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 Gavin Halpin
Director
28th November 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
Paper Owl Films Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI610937 . The registered office is 8 High Street, Holywood, Co. Down, BT18 9AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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:
Freehold 2% straight line
Plant & Machinery 33% straight line
Fixtures & Fittings 33% straight line
2.4. 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.
2.5. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2023: 19)
43 19
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 262,067 54,532 316,599
Additions 33,544 179 33,723
As at 31 March 2024 295,611 54,711 350,322
Depreciation
As at 1 April 2023 243,698 54,532 298,230
Provided during the period 8,278 15 8,293
As at 31 March 2024 251,976 54,547 306,523
Net Book Value
As at 31 March 2024 43,635 164 43,799
As at 1 April 2023 18,369 - 18,369
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 168,361 263,031
Prepayments and accrued income 7,171 66,491
Other debtors 3,113 2,999
Amounts owed by associates 239,954 37,763
418,599 370,284
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 40,323 187,052
Bank loans and overdrafts 930 7,590
Corporation tax 96,863 3,292
Other taxes and social security 76,618 18,474
VAT 151,248 41,930
...CONTINUED
Page 4
Page 5
Net wages 272 -
Accruals and deferred income 16,705 83,133
Amounts owed to associates 4,001 -
386,960 341,471
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 150 150
Page 5