Acorah Software Products - Accounts Production 16.0.110 false true 30 June 2023 1 December 2022 false 1 July 2023 30 June 2024 30 June 2024 07672647 Mr Alun Davies Mr William Sandilands Mr Bryn Davies iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07672647 2023-06-30 07672647 2024-06-30 07672647 2023-07-01 2024-06-30 07672647 frs-core:CurrentFinancialInstruments 2024-06-30 07672647 frs-core:Non-currentFinancialInstruments 2024-06-30 07672647 frs-core:ComputerEquipment 2024-06-30 07672647 frs-core:ComputerEquipment 2023-07-01 2024-06-30 07672647 frs-core:ComputerEquipment 2023-06-30 07672647 frs-core:FurnitureFittings 2024-06-30 07672647 frs-core:FurnitureFittings 2023-07-01 2024-06-30 07672647 frs-core:FurnitureFittings 2023-06-30 07672647 frs-core:MotorVehicles 2024-06-30 07672647 frs-core:MotorVehicles 2023-07-01 2024-06-30 07672647 frs-core:MotorVehicles 2023-06-30 07672647 frs-core:ShareCapital 2024-06-30 07672647 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07672647 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07672647 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07672647 frs-bus:SmallEntities 2023-07-01 2024-06-30 07672647 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07672647 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07672647 frs-bus:Director1 2023-07-01 2024-06-30 07672647 frs-bus:Director2 2023-07-01 2024-06-30 07672647 frs-bus:Director3 2023-07-01 2024-06-30 07672647 frs-countries:EnglandWales 2023-07-01 2024-06-30 07672647 2022-11-30 07672647 2023-06-30 07672647 2022-12-01 2023-06-30 07672647 frs-core:CurrentFinancialInstruments 2023-06-30 07672647 frs-core:Non-currentFinancialInstruments 2023-06-30 07672647 frs-core:WithinOneYear 2023-06-30 07672647 frs-core:ShareCapital 2023-06-30 07672647 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 07672647
Adventurize Ltd
Financial Statements
For The Year Ended 30 June 2024
Godfrey Mansell & Co
Hales Court
Stourbridge Road
Halesowen
B63 3TT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07672647
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,358 42,057
57,358 42,057
CURRENT ASSETS
Stocks 5 1,408 6,938
Debtors 6 105,787 80,479
Cash at bank and in hand 1,704,020 1,222,023
1,811,215 1,309,440
Creditors: Amounts Falling Due Within One Year 7 (923,411 ) (825,301 )
NET CURRENT ASSETS (LIABILITIES) 887,804 484,139
TOTAL ASSETS LESS CURRENT LIABILITIES 945,162 526,196
Creditors: Amounts Falling Due After More Than One Year 8 (25,000 ) (50,000 )
NET ASSETS 920,162 476,196
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 920,062 476,096
SHAREHOLDERS' FUNDS 920,162 476,196
Page 1
Page 2
For the year ending 30 June 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 Alun Davies
Director
28 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
Adventurize Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07672647 . The registered office is Unit 10 Drayton Manor Farm, Drayton Manor Farm Drive (East), Stratford-Upon-Avon, CV37 9RQ.
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:
Motor Vehicles 50% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. 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.
Page 3
Page 4
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 years 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 assets reflect 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: 15 (2023: 16)
15 16
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 102,497 10,151 55,193 167,841
Additions 54,167 307 3,617 58,091
Disposals (18,094 ) - - (18,094 )
As at 30 June 2024 138,570 10,458 58,810 207,838
Depreciation
As at 1 July 2023 87,260 6,372 32,152 125,784
Provided during the period 34,302 1,022 6,665 41,989
Disposals (17,293 ) - - (17,293 )
As at 30 June 2024 104,269 7,394 38,817 150,480
Net Book Value
As at 30 June 2024 34,301 3,064 19,993 57,358
As at 1 July 2023 15,237 3,779 23,041 42,057
5. Stocks
30 June 2024 30 June 2023
£ £
Stock 1,408 6,938
Page 4
Page 5
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 27,404 73,693
Prepayments and accrued income 37,204 6,786
VAT 41,179 -
105,787 80,479
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,140
Trade creditors 457,657 103,315
Bank loans and overdrafts 25,000 25,000
Corporation tax 152,656 56,442
Other taxes and social security 11,863 21,852
VAT - 55,882
Other creditors - 2,669
Accruals and deferred income 266,004 558,830
Directors' loan accounts 10,231 171
923,411 825,301
8. Creditors: Amounts Falling Due After More Than One Year
30 June 2024 30 June 2023
£ £
Bank loans 25,000 50,000
9. Obligations Under Finance Leases and Hire Purchase
30 June 2024 30 June 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,140
10. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5