Acorah Software Products - Accounts Production 16.1.200 false true 4 April 2023 5 April 2022 false 5 April 2023 4 April 2024 4 April 2024 03493942 Mrs Nani Brown Mr Charles Brown Mr George Brown Mr Maxwell Brown Mr Christoper Brown Mr Christoper Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03493942 2023-04-04 03493942 2024-04-04 03493942 2023-04-05 2024-04-04 03493942 frs-core:CurrentFinancialInstruments 2024-04-04 03493942 frs-core:Non-currentFinancialInstruments 2024-04-04 03493942 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-05 2024-04-04 03493942 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-04 03493942 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-05 2024-04-04 03493942 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-04 03493942 frs-core:MotorVehicles 2024-04-04 03493942 frs-core:MotorVehicles 2023-04-05 2024-04-04 03493942 frs-core:MotorVehicles 2023-04-04 03493942 frs-core:PlantMachinery 2024-04-04 03493942 frs-core:PlantMachinery 2023-04-05 2024-04-04 03493942 frs-core:PlantMachinery 2023-04-04 03493942 frs-core:RevaluationReserve 2023-04-04 03493942 frs-core:RevaluationReserve 2024-04-04 03493942 frs-core:ShareCapital 2024-04-04 03493942 frs-core:RetainedEarningsAccumulatedLosses 2024-04-04 03493942 frs-bus:PrivateLimitedCompanyLtd 2023-04-05 2024-04-04 03493942 frs-bus:FilletedAccounts 2023-04-05 2024-04-04 03493942 frs-bus:SmallEntities 2023-04-05 2024-04-04 03493942 frs-bus:AuditExempt-NoAccountantsReport 2023-04-05 2024-04-04 03493942 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-05 2024-04-04 03493942 frs-core:UnlistedNon-exchangeTraded 2024-04-04 03493942 frs-core:UnlistedNon-exchangeTraded 2023-04-04 03493942 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-04-04 03493942 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-04 03493942 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-04-04 03493942 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-04-04 03493942 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-04-04 03493942 frs-bus:Director1 2023-04-05 2024-04-04 03493942 frs-bus:Director2 2023-04-05 2024-04-04 03493942 frs-bus:Director3 2023-04-05 2024-04-04 03493942 frs-bus:Director4 2023-04-05 2024-04-04 03493942 frs-bus:Director5 2023-04-05 2024-04-04 03493942 frs-bus:CompanySecretary1 2023-04-05 2024-04-04 03493942 frs-countries:EnglandWales 2023-04-05 2024-04-04 03493942 2022-04-04 03493942 2023-04-04 03493942 2022-04-05 2023-04-04 03493942 frs-core:CurrentFinancialInstruments 2023-04-04 03493942 frs-core:Non-currentFinancialInstruments 2023-04-04 03493942 frs-core:RevaluationReserve 2023-04-04 03493942 frs-core:ShareCapital 2023-04-04 03493942 frs-core:RetainedEarningsAccumulatedLosses 2023-04-04
Registered number: 03493942
Premonition Limited
Unaudited Financial Statements
For The Year Ended 4 April 2024
Jackson Whitwham Accountants LLP
Chartered Certified Accountants
Unit 9 Innovation Centre
Conyngham Hall
Knaresborough
North Yorkshire
HG5 9AY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03493942
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 822,023 822,697
Investments 5 69,439 57,564
891,462 880,261
CURRENT ASSETS
Debtors 6 26,039 28,589
Investments 7 100 100
Cash at bank and in hand 1,434 610
27,573 29,299
Creditors: Amounts Falling Due Within One Year 8 (225,087 ) (213,642 )
NET CURRENT ASSETS (LIABILITIES) (197,514 ) (184,343 )
TOTAL ASSETS LESS CURRENT LIABILITIES 693,948 695,918
Creditors: Amounts Falling Due After More Than One Year 9 (127,972 ) (163,720 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (35,448 )
NET ASSETS 565,976 496,750
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 138,683 138,683
Profit and Loss Account 427,193 357,967
SHAREHOLDERS' FUNDS 565,976 496,750
Page 1
Page 2
For the year ending 4 April 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 Christoper Brown
Director
17 December 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
Premonition Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03493942 . The registered office is Station Yard, Cattal, York, North Yorkshire, YO26 8EA.
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:
Freehold 0
Leasehold 0
Plant & Machinery 25
Motor Vehicles 25
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 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 2)
5 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 5 April 2023 820,000 11,021 6,600 837,621
As at 4 April 2024 820,000 11,021 6,600 837,621
Depreciation
As at 5 April 2023 - 9,204 5,720 14,924
Provided during the period - 454 220 674
As at 4 April 2024 - 9,658 5,940 15,598
Net Book Value
As at 4 April 2024 820,000 1,363 660 822,023
As at 5 April 2023 820,000 1,817 880 822,697
Cost or valuation as at 4 April 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
At cost 820,000 11,021 6,600 837,621
820,000 11,021 6,600 837,621
Investment property is valued on an open market existing use basis. In the opinion of the directors there were no changes to the value of the properties during the year.
5. Investments
Unlisted
£
Cost
As at 5 April 2023 57,564
Additions 11,875
As at 4 April 2024 69,439
Provision
As at 5 April 2023 -
As at 4 April 2024 -
Net Book Value
As at 4 April 2024 69,439
As at 5 April 2023 57,564
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,862 1,412
Amounts owed by subsidiaries 24,177 27,177
26,039 28,589
7. Current Asset Investments
2024 2023
£ £
Shares in subsidiaries 100 100
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 31,580 29,780
Corporation tax 9,532 5,175
Other taxes and social security - 413
Other creditors 50 -
Accruals and deferred income 3,150 3,300
Directors' loan accounts 180,775 174,974
225,087 213,642
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 127,972 163,720
10. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 159,552 193,500
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Revaluation Reserve
£
As at 5 April 2023 138,683
As at 4 April 2024 138,683
Page 5