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Registered number: 14278458
Reclaim Yourself Retreats Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
D S Burge and Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14278458
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,420 11,070
12,420 11,070
CURRENT ASSETS
Debtors 5 150,005 98,496
Cash at bank and in hand 300,824 182,081
450,829 280,577
Creditors: Amounts Falling Due Within One Year 6 (440,189 ) (281,494 )
NET CURRENT ASSETS (LIABILITIES) 10,640 (917 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,060 10,153
NET ASSETS 23,060 10,153
CAPITAL AND RESERVES
Called up share capital 7 100 -
Profit and Loss Account 22,960 10,153
SHAREHOLDERS' FUNDS 23,060 10,153
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 her 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
Ms Julia Sampson
Director
10/01/2025
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
Reclaim Yourself Retreats Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14278458 . The registered office is C/O D S Burge And Co Ltd, The Courtyard, 7 Francis Grove, London, SW19 4DW.
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. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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: 1 (2023: )
1 -
4. Intangible Assets
Goodwill Development Costs Total
£ £ £
Cost
As at 1 September 2023 11,070 - 11,070
Additions 1,230 3,225 4,455
As at 31 August 2024 12,300 3,225 15,525
Amortisation
As at 1 September 2023 - - -
Provided during the period 2,460 645 3,105
As at 31 August 2024 2,460 645 3,105
Net Book Value
As at 31 August 2024 9,840 2,580 12,420
As at 1 September 2023 11,070 - 11,070
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors (2,063 ) (1,142 )
Prepayments and accrued income 152,068 99,638
150,005 98,496
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 16,835 19,485
Corporation tax 6,318 -
Other taxes and social security 120 -
Accruals and deferred income 416,314 257,543
Director's loan account 602 4,467
440,189 281,494
Page 4
Page 5
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 -
Page 5