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Registered number: 10444520
Mango Digital Marketing Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Think Smart Accounts Ltd
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
In accordance with your instructions, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 April 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Think Smart Accounts Ltd
19 January 2025
Think Smart Accounts Ltd
14 Farnborough Street
Farnborough
Hampshire
GU14 8AG
Page 1
Page 2
Balance Sheet
Registered number: 10444520
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,264 1,264
Tangible Assets 5 3,145 4,043
4,409 5,307
CURRENT ASSETS
Stocks 6 11,000 10,250
Debtors 7 67,569 45,991
Cash at bank and in hand 2,884 4,468
81,453 60,709
Creditors: Amounts Falling Due Within One Year 8 (59,718 ) (39,564 )
NET CURRENT ASSETS (LIABILITIES) 21,735 21,145
TOTAL ASSETS LESS CURRENT LIABILITIES 26,144 26,452
Creditors: Amounts Falling Due After More Than One Year 9 (24,815 ) (26,311 )
NET ASSETS 1,329 141
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 1,229 41
SHAREHOLDERS' FUNDS 1,329 141
Page 2
Page 3
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 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 Matthew Coe
Director
19 January 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Mango Digital Marketing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10444520 . The registered office is Nankilly Farm, Probus, Truro, Cornwall, TR2 4JG.
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. 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.
2.4. 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:
Computer Equipment 25% Reducing balance 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: NIL)
1 -
4. Intangible Assets
Development Costs
£
Cost
As at 1 May 2023 1,264
As at 30 April 2024 1,264
Net Book Value
As at 30 April 2024 1,264
As at 1 May 2023 1,264
Page 4
Page 5
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 11,132
Additions 150
As at 30 April 2024 11,282
Depreciation
As at 1 May 2023 7,089
Provided during the period 1,048
As at 30 April 2024 8,137
Net Book Value
As at 30 April 2024 3,145
As at 1 May 2023 4,043
6. Stocks
2024 2023
£ £
Work in progress 11,000 10,250
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 19,209 7,452
Corporation tax recoverable assets 9,725 9,725
Director's loan account 38,635 28,814
67,569 45,991
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 54,279 34,961
Other taxes and social security 317 203
Other creditors 1,657 1,100
Accruals and deferred income 3,465 3,300
59,718 39,564
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,815 26,311
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6