Acorah Software Products - Accounts Production 16.1.200 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06274241 Mr Michael Swirles Mr Michael Swirles iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06274241 2023-06-30 06274241 2024-06-30 06274241 2023-07-01 2024-06-30 06274241 frs-core:CurrentFinancialInstruments 2024-06-30 06274241 frs-core:Non-currentFinancialInstruments 2024-06-30 06274241 frs-core:ComputerEquipment 2024-06-30 06274241 frs-core:ComputerEquipment 2023-07-01 2024-06-30 06274241 frs-core:ComputerEquipment 2023-06-30 06274241 frs-core:FurnitureFittings 2024-06-30 06274241 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06274241 frs-core:FurnitureFittings 2023-06-30 06274241 frs-core:PlantMachinery 2024-06-30 06274241 frs-core:PlantMachinery 2023-07-01 2024-06-30 06274241 frs-core:PlantMachinery 2023-06-30 06274241 frs-core:CapitalRedemptionReserve 2024-06-30 06274241 frs-core:ShareCapital 2024-06-30 06274241 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06274241 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06274241 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06274241 frs-bus:SmallEntities 2023-07-01 2024-06-30 06274241 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06274241 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06274241 frs-bus:Director1 2023-07-01 2024-06-30 06274241 frs-bus:Director1 2023-06-30 06274241 frs-bus:Director1 2024-06-30 06274241 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 06274241 frs-countries:EnglandWales 2023-07-01 2024-06-30 06274241 2022-06-30 06274241 2023-06-30 06274241 2022-07-01 2023-06-30 06274241 frs-core:CurrentFinancialInstruments 2023-06-30 06274241 frs-core:Non-currentFinancialInstruments 2023-06-30 06274241 frs-core:CapitalRedemptionReserve 2023-06-30 06274241 frs-core:ShareCapital 2023-06-30 06274241 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 06274241
Organic Financial Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06274241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,062 4,823
5,062 4,823
CURRENT ASSETS
Debtors 5 60,536 51,500
Cash at bank and in hand 3,337 9,288
63,873 60,788
Creditors: Amounts Falling Due Within One Year 6 (53,955 ) (42,377 )
NET CURRENT ASSETS (LIABILITIES) 9,918 18,411
TOTAL ASSETS LESS CURRENT LIABILITIES 14,980 23,234
Creditors: Amounts Falling Due After More Than One Year 7 (10,000 ) (20,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,060 ) (1,206 )
NET ASSETS 3,920 2,028
CAPITAL AND RESERVES
Called up share capital 8 206 206
Capital redemption reserve 8 8
Profit and Loss Account 3,706 1,814
SHAREHOLDERS' FUNDS 3,920 2,028
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 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 Michael Swirles
Director
6th January 2025
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
Organic Financial Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06274241 . The registered office is 28d Church Street, Woodbridge, Suffolk, IP12 1DH.
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 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 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:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
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 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: 5 (2023: 5)
5 5
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 13,065 1,416 6,053 20,534
Additions - 467 2,428 2,895
Disposals - - (3,160 ) (3,160 )
As at 30 June 2024 13,065 1,883 5,321 20,269
Depreciation
As at 1 July 2023 11,159 639 3,913 15,711
Provided during the period 476 243 1,499 2,218
Disposals - - (2,722 ) (2,722 )
As at 30 June 2024 11,635 882 2,690 15,207
Net Book Value
As at 30 June 2024 1,430 1,001 2,631 5,062
As at 1 July 2023 1,906 777 2,140 4,823
5. Debtors
2024 2023
£ £
Due within one year
Amounts owed by participating interests 59,730 16,149
Other debtors 806 35,351
60,536 51,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 306
Bank loans and overdrafts 10,000 10,000
Other creditors 26,452 2,686
Taxation and social security 17,503 29,385
53,955 42,377
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,000 20,000
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 206 206
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Page 5
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Michael Swirles 31,914 134,661 (190,052 ) - (23,476 )
The above loan is unsecured, interest free and repayable on demand. This amount was repaid within 9 months and 1 day from its issue.
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