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Registered number: 13562914
Consumer Rights Energy Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13562914
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,054 1,551
46,054 1,551
CURRENT ASSETS
Debtors 5 672,957 36,909
Cash at bank and in hand 73,779 175,645
746,736 212,554
Creditors: Amounts Falling Due Within One Year 6 (590,191 ) (106,869 )
NET CURRENT ASSETS (LIABILITIES) 156,545 105,685
TOTAL ASSETS LESS CURRENT LIABILITIES 202,599 107,236
Creditors: Amounts Falling Due After More Than One Year 7 (6,554 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,224 ) (388 )
NET ASSETS 187,821 106,848
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 187,820 106,847
SHAREHOLDERS' FUNDS 187,821 106,848
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 P J Stanley
Director
18 December 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Consumer Rights Energy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13562914 . The registered office is Suite 4 Business Centre, Llys Y Bont, Bangor, LL57 4BN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
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 assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 33% Straight Line
Computer equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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. Financial Instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.6. 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.
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2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 8)
- 8
4. Tangible Assets
Motor vehicles Computer equipment Total
£ £ £
Cost
As at 1 September 2023 - 1,939 1,939
Additions 14,000 44,388 58,388
As at 31 August 2024 14,000 46,327 60,327
Depreciation
As at 1 September 2023 - 388 388
Provided during the period 4,620 9,265 13,885
As at 31 August 2024 4,620 9,653 14,273
Net Book Value
As at 31 August 2024 9,380 36,674 46,054
As at 1 September 2023 - 1,551 1,551
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Computer equipment 5,265 -
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 106,189 -
Other debtors 566,768 36,909
672,957 36,909
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,277 -
Trade creditors 49,004 11,825
Corporation tax 113,133 28,544
Other taxes and social security 49 -
VAT - 62,759
Other creditors 424,356 3,741
Director's loan account 372 -
590,191 106,869
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,554 -
8. Secured Creditors
Of the creditors the following amounts are secured against the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,831 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,277 -
Later than one year and not later than five years 6,554 -
9,831 -
9,831 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 14,185 -
Later than one year and not later than five years 24,317 -
38,502 -
12. Related Party Transactions
The following related party transactions were undertaken during the period:
Dividends were paid to directors in respect of their shareholdings totalling £21,549 (2023: £Nil)
Dividends were paid to shareholders in respect of their shareholdings totalling £300,329 (2023: £Nil).
Consumer Rights Energy Limited provided loans totalling £109,000 to a company in the same group and amounts of £Nil were repaid. At the balance sheet date, the amount receivable from the company totalled £109,000 (2023: £Nil).
At the start of the period a company under common control owed Consumer Rights Energy Limited an amount totalling £2,000. This amount was written off in the period as the company had disssolved.
At the start of the period a company in the same group owed Consumer Rights Energy Limited an amount totalling £3,950. Consumer Rights Energy Limited provided loans to the company totalling £6,000 and amounts of £Nil were repaid (2023: provided loans totalling £3,950 and amounts of £Nil were repaid). The remaining balance of £9,950 was written off in the period as the company entered liquidation.
Consumer Rights Energy Limited provided loans totalling £1,186 to a company under common control and amounts of £102 were repaid (2023: provided loans totalling £152,235 and amounts of £125,018 were repaid). At the balance sheet date, the amount payable to the company totalled £2,657 (2023: £3,741).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
13. Ultimate Controlling Party
The company's ultimate controlling party is Alpha Ludus Holding Limited by virtue of their ownership of 100% of the issued share capital in the company.
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