Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 04708453 Mrs Julie Fuge Mrs Joanne Kedward Mr Graeme Patfield Mrs Julie Fuge iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04708453 2023-04-30 04708453 2024-04-30 04708453 2023-05-01 2024-04-30 04708453 frs-core:CurrentFinancialInstruments 2024-04-30 04708453 frs-core:Non-currentFinancialInstruments 2024-04-30 04708453 frs-core:ComputerEquipment 2024-04-30 04708453 frs-core:ComputerEquipment 2023-05-01 2024-04-30 04708453 frs-core:ComputerEquipment 2023-04-30 04708453 frs-core:FurnitureFittings 2024-04-30 04708453 frs-core:FurnitureFittings 2023-05-01 2024-04-30 04708453 frs-core:FurnitureFittings 2023-04-30 04708453 frs-core:NetGoodwill 2024-04-30 04708453 frs-core:NetGoodwill 2023-05-01 2024-04-30 04708453 frs-core:NetGoodwill 2023-04-30 04708453 frs-core:ShareCapital 2024-04-30 04708453 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 04708453 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04708453 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 04708453 frs-bus:SmallEntities 2023-05-01 2024-04-30 04708453 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04708453 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 04708453 frs-bus:Director1 2023-05-01 2024-04-30 04708453 frs-bus:Director1 2023-04-30 04708453 frs-bus:Director1 2024-04-30 04708453 frs-bus:Director2 2023-05-01 2024-04-30 04708453 frs-bus:Director2 2023-04-30 04708453 frs-bus:Director2 2024-04-30 04708453 frs-bus:Director3 2023-05-01 2024-04-30 04708453 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 04708453 frs-core:CurrentFinancialInstruments 1 2024-04-30 04708453 frs-core:CurrentFinancialInstruments 5 2024-04-30 04708453 frs-countries:EnglandWales 2023-05-01 2024-04-30 04708453 2022-04-30 04708453 2023-04-30 04708453 2022-05-01 2023-04-30 04708453 frs-core:CurrentFinancialInstruments 2023-04-30 04708453 frs-core:Non-currentFinancialInstruments 2023-04-30 04708453 frs-core:ShareCapital 2023-04-30 04708453 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 04708453 frs-core:CurrentFinancialInstruments 1 2023-04-30 04708453 frs-core:CurrentFinancialInstruments 3 2023-04-30 04708453 frs-core:CurrentFinancialInstruments 4 2023-04-30 04708453 frs-core:CurrentFinancialInstruments 5 2023-04-30
Registered number: 04708453
Polymedia Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Coastal Accountants Ltd
Chartered Certified Accountants
Office 2 Unit 3 Mitchell Point
Ensign Way, Hamble
Southampton
SO31 4RF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04708453
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 13,073 15,848
13,073 15,848
CURRENT ASSETS
Debtors 6 87,317 119,524
Cash at bank and in hand 16,244 982
103,561 120,506
Creditors: Amounts Falling Due Within One Year 7 (101,754 ) (106,745 )
NET CURRENT ASSETS (LIABILITIES) 1,807 13,761
TOTAL ASSETS LESS CURRENT LIABILITIES 14,880 29,609
Creditors: Amounts Falling Due After More Than One Year 8 (11,520 ) (25,912 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,875 ) (3,486 )
NET ASSETS 485 211
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 385 111
SHAREHOLDERS' FUNDS 485 211
Page 1
Page 2
For the year ending 30 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
Mrs Julie Fuge
Director
12/06/2024
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. General Information
Polymedia Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04708453 . The registered office is 6 The Gardens Office Village, Broadcut Fareham, Hants, PO16 8SS.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 20% on cost
Computer Equipment 33% reducing balance
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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 8)
6 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 30,000
As at 30 April 2024 30,000
Amortisation
As at 1 May 2023 30,000
As at 30 April 2024 30,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 529 39,064 39,593
Additions 3,833 1,964 5,797
As at 30 April 2024 4,362 41,028 45,390
Depreciation
As at 1 May 2023 529 23,216 23,745
Provided during the period 536 8,036 8,572
As at 30 April 2024 1,065 31,252 32,317
Net Book Value
As at 30 April 2024 3,297 9,776 13,073
As at 1 May 2023 - 15,848 15,848
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,425 67,379
Prepayments and accrued income 4,311 4,285
Other debtors 460 427
Other debtors - S455 Tax 12,121 18,525
Bluecroft - 5,500
Directors' loan accounts - 23,408
87,317 119,524
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,564 11,749
Bank loans and overdrafts 10,696 6,868
Corporation tax 32,795 27,938
Other taxes and social security 1,878 3,453
VAT 10,794 10,193
Other creditors (4) - 685
Other creditors (5) 1,805 3,077
Accruals and deferred income 37,222 42,782
101,754 106,745
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,520 25,912
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mrs Julie Fuge 21,087 - (21,087 ) - -
Mrs Joanne Kedward 2,321 - (2,321 ) - -
The above loan is unsecured, interest free and repayable on demand.
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