Acorah Software Products - Accounts Production 16.1.200 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09457675 Mr Andrew Weight Ms Susan Kitson Mr Andrew Weight iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09457675 2023-03-31 09457675 2024-03-31 09457675 2023-04-01 2024-03-31 09457675 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09457675 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09457675 frs-core:ShareCapital 2024-03-31 09457675 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09457675 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09457675 frs-bus:AbridgedAccounts 2023-04-01 2024-03-31 09457675 frs-bus:SmallEntities 2023-04-01 2024-03-31 09457675 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09457675 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09457675 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09457675 frs-bus:OrdinaryShareClass1 2024-03-31 09457675 frs-bus:OrdinaryShareClass3 2023-04-01 2024-03-31 09457675 frs-bus:OrdinaryShareClass3 2024-03-31 09457675 frs-bus:OrdinaryShareClass4 2023-04-01 2024-03-31 09457675 frs-bus:OrdinaryShareClass4 2024-03-31 09457675 frs-bus:OrdinaryShareClass5 2023-04-01 2024-03-31 09457675 frs-bus:OrdinaryShareClass5 2024-03-31 09457675 frs-bus:Director1 2023-04-01 2024-03-31 09457675 frs-bus:Director2 2023-04-01 2024-03-31 09457675 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 09457675 frs-countries:EnglandWales 2023-04-01 2024-03-31 09457675 2022-03-31 09457675 2023-03-31 09457675 2022-04-01 2023-03-31 09457675 frs-core:ShareCapital 2023-03-31 09457675 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09457675 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09457675 frs-bus:OrdinaryShareClass3 2022-04-01 2023-03-31 09457675 frs-bus:OrdinaryShareClass4 2022-04-01 2023-03-31 09457675 frs-bus:OrdinaryShareClass5 2022-04-01 2023-03-31
Registered number: 09457675
Versacare Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 09457675
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 3,038 4,142
3,038 4,142
CURRENT ASSETS
Debtors 646,274 675,039
Cash at bank and in hand 409,419 521,414
1,055,693 1,196,453
Creditors: Amounts Falling Due Within One Year (142,370 ) (306,014 )
NET CURRENT ASSETS (LIABILITIES) 913,323 890,439
TOTAL ASSETS LESS CURRENT LIABILITIES 916,361 894,581
PROVISIONS FOR LIABILITIES
Deferred Taxation (577 ) (787 )
NET ASSETS 915,784 893,794
CAPITAL AND RESERVES
Called up share capital 4 10,000 10,030
Profit and Loss Account 905,784 883,764
SHAREHOLDERS' FUNDS 915,784 893,794
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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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
The financial statements were approved by the board of directors on 20 December 2024 and were signed on its behalf by:
Mr Andrew Weight
Director
20 December 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Abridged 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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and
assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The
estimates and associated assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of
the revision and future periods where the revision affects both current and future periods.
1.4. 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.
1.5. 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:
Fixtures & Fittings 10% on cost
Computer Equipment 33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the
carrying value of the asset, and is credited or charged to profit or loss.
1.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not
amortised.
Classification of financial liabilities
...CONTINUED
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1.6. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after
deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that
are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not,
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
1.7. 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.
1.8. 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.
1.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,
other short-term highly liquid investments that mature in no more than three months from the date of acquisition and
are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
1.10. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required
to be recognised as part of the cost of stock of fixed assets.
1.11. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends
payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company
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2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 13 (2023: 14)
13 14
3. Tangible Assets
Total
£
Cost
As at 1 April 2023 9,248
Additions 269
As at 31 March 2024 9,517
Depreciation
As at 1 April 2023 5,106
Provided during the period 1,373
As at 31 March 2024 6,479
Net Book Value
As at 31 March 2024 3,038
As at 1 April 2023 4,142
4. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,030
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 1.00 10,000 10,000 10,000
Ordinary B shares - 10
Ordinary C shares - 10
Ordinary D shares - 10
10,000 10,000 10,030
Nominal value Number Amount
Shares disposed during the period: £ £
Ordinary B shares 1.00 10 (10)
Ordinary C shares 1.00 10 (10)
Ordinary D shares 1.00 10 (10)
30 (30)
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5. Related Party Transactions
Versacare Group Ltd (CRN 14762108)
Company under common control of the directors
Loans were paid and received from this company for commercial reasons and the balance owed at year end was £1,000.
6. General Information
Versacare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09457675 . The registered office is 2 Church Path, Coulsdon, Surrey, CR5 1HA.
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