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 05091824 Mr Edward Lewy Mr Gary Lewy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05091824 2023-04-30 05091824 2024-04-30 05091824 2023-05-01 2024-04-30 05091824 frs-core:CurrentFinancialInstruments 2024-04-30 05091824 frs-core:Non-currentFinancialInstruments 2024-04-30 05091824 frs-core:ComputerEquipment 2024-04-30 05091824 frs-core:ComputerEquipment 2023-05-01 2024-04-30 05091824 frs-core:ComputerEquipment 2023-04-30 05091824 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 05091824 frs-core:FurnitureFittings 2024-04-30 05091824 frs-core:FurnitureFittings 2023-05-01 2024-04-30 05091824 frs-core:FurnitureFittings 2023-04-30 05091824 frs-core:MotorVehicles 2024-04-30 05091824 frs-core:MotorVehicles 2023-05-01 2024-04-30 05091824 frs-core:MotorVehicles 2023-04-30 05091824 frs-core:OtherResidualIntangibleAssets 2024-04-30 05091824 frs-core:OtherResidualIntangibleAssets 2023-04-30 05091824 frs-core:PlantMachinery 2023-05-01 2024-04-30 05091824 frs-core:ShareCapital 2024-04-30 05091824 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05091824 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05091824 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05091824 frs-bus:SmallEntities 2023-05-01 2024-04-30 05091824 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05091824 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05091824 frs-bus:Director1 2023-05-01 2024-04-30 05091824 frs-bus:Director2 2023-05-01 2024-04-30 05091824 frs-countries:EnglandWales 2023-05-01 2024-04-30 05091824 2022-04-30 05091824 2023-04-30 05091824 2022-05-01 2023-04-30 05091824 frs-core:CurrentFinancialInstruments 2023-04-30 05091824 frs-core:Non-currentFinancialInstruments 2023-04-30 05091824 frs-core:ShareCapital 2023-04-30 05091824 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05091824
Initiator Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05091824
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 87,406 35,148
87,406 35,148
CURRENT ASSETS
Stocks 6 152,716 175,120
Debtors 7 123,595 91,142
Cash at bank and in hand 99,479 88,650
375,790 354,912
Creditors: Amounts Falling Due Within One Year 8 (64,954 ) (66,098 )
NET CURRENT ASSETS (LIABILITIES) 310,836 288,814
TOTAL ASSETS LESS CURRENT LIABILITIES 398,242 323,962
Creditors: Amounts Falling Due After More Than One Year 9 (22,500 ) (32,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,504 ) (8,363 )
NET ASSETS 354,238 283,099
CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Profit and Loss Account 353,236 282,097
SHAREHOLDERS' FUNDS 354,238 283,099
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
Mr Gary Lewy
Director
13 January 2025
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
Initiator Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05091824 . The registered office is 4a Church Street, Market Harborough, Leicestershire, LE16 7AA.
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 - Other Intangible
Other intangible assets are franchise fees. It has been fully amortised to profit and loss account over its useful economic life.
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:
Plant & Machinery 25% reducing balance method
Motor Vehicles 25% reducing balance method
Fixtures & Fittings 10% reducing balance method
Computer Equipment 33% on cost method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 7)
5 7
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 19,950
As at 30 April 2024 19,950
Amortisation
As at 1 May 2023 19,950
As at 30 April 2024 19,950
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 13,713 167,893 6,742 188,348
Additions - 56,622 - 56,622
As at 30 April 2024 13,713 224,515 6,742 244,970
Depreciation
As at 1 May 2023 13,631 133,110 6,459 153,200
Provided during the period 21 4,191 152 4,364
As at 30 April 2024 13,652 137,301 6,611 157,564
Net Book Value
As at 30 April 2024 61 87,214 131 87,406
As at 1 May 2023 82 34,783 283 35,148
6. Stocks
2024 2023
£ £
Stock 152,716 175,120
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 23,738 300
Other debtors 99,857 90,842
123,595 91,142
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 30,249 20,099
Bank loans and overdrafts 10,000 10,000
Other creditors 15,843 16,626
Taxation and social security 8,862 19,373
64,954 66,098
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
Amounts owed to participating interests 10,000 10,000
22,500 32,500
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