Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 05174056 Mrs S Clarke Mr N Clarke Mrs S Clarke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05174056 2023-07-31 05174056 2024-07-31 05174056 2023-08-01 2024-07-31 05174056 frs-core:CurrentFinancialInstruments 2024-07-31 05174056 frs-core:Non-currentFinancialInstruments 2024-07-31 05174056 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-07-31 05174056 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-01 2024-07-31 05174056 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-31 05174056 frs-core:FurnitureFittings 2023-08-01 2024-07-31 05174056 frs-core:MotorVehicles 2024-07-31 05174056 frs-core:MotorVehicles 2023-08-01 2024-07-31 05174056 frs-core:MotorVehicles 2023-07-31 05174056 frs-core:PlantMachinery 2024-07-31 05174056 frs-core:PlantMachinery 2023-08-01 2024-07-31 05174056 frs-core:PlantMachinery 2023-07-31 05174056 frs-core:SharePremium 2024-07-31 05174056 frs-core:ShareCapital 2024-07-31 05174056 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 05174056 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05174056 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 05174056 frs-bus:SmallEntities 2023-08-01 2024-07-31 05174056 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 05174056 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05174056 frs-bus:Director1 2023-08-01 2024-07-31 05174056 frs-bus:Director2 2023-08-01 2024-07-31 05174056 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 05174056 frs-countries:EnglandWales 2023-08-01 2024-07-31 05174056 2022-07-31 05174056 2023-07-31 05174056 2022-08-01 2023-07-31 05174056 frs-core:CurrentFinancialInstruments 2023-07-31 05174056 frs-core:Non-currentFinancialInstruments 2023-07-31 05174056 frs-core:SharePremium 2023-07-31 05174056 frs-core:ShareCapital 2023-07-31 05174056 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 05174056
Production Services Entertainment Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Steve Pye & Co.
Chartered Certified Accountants
Unit 10 Aylsham Business Park
Richard Oakes Road
Aylsham
Norfolk
NR11 6FD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05174056
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 140 160
Tangible Assets 5 2,947 2,266
3,087 2,426
CURRENT ASSETS
Debtors 6 50,279 123,079
Cash at bank and in hand 71,447 121,662
121,726 244,741
Creditors: Amounts Falling Due Within One Year 7 (52,380 ) (141,150 )
NET CURRENT ASSETS (LIABILITIES) 69,346 103,591
TOTAL ASSETS LESS CURRENT LIABILITIES 72,433 106,017
Creditors: Amounts Falling Due After More Than One Year 8 - (23,320 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (772 ) (431 )
NET ASSETS 71,661 82,266
CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium account 13,843 13,843
Profit and Loss Account 57,816 68,421
SHAREHOLDERS' FUNDS 71,661 82,266
Page 1
Page 2
For the year ending 31 July 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
Mrs S Clarke
Director
27 December 2024
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
Production Services Entertainment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05174056 . The registered office is 44 Roundtree Way, Norwich, Norfolk, NR7 8SG.  The presentation currency of the financial statements is the Pound Sterling (£).
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. Significant judgements and estimations
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.  The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant.  Actual results may differ from these estimates.  The estimates and underliyng assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.  The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
2.3. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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 33% on cost
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% Straight Line
2.5. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
...CONTINUED
Page 3
Page 4
2.5. Financial Instruments - continued
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 August 2023 200
As at 31 July 2024 200
Amortisation
As at 1 August 2023 40
Provided during the period 20
As at 31 July 2024 60
Net Book Value
As at 31 July 2024 140
As at 1 August 2023 160
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 72,360 14,370 86,730
Additions 2,785 - 2,785
As at 31 July 2024 75,145 14,370 89,515
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 August 2023 70,094 14,370 84,464
Provided during the period 2,104 - 2,104
As at 31 July 2024 72,198 14,370 86,568
Net Book Value
As at 31 July 2024 2,947 - 2,947
As at 1 August 2023 2,266 - 2,266
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 45,944 96,678
Prepayments and accrued income 4,335 25,962
Other debtors - 439
50,279 123,079
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,180 42,227
Bank loans and overdrafts - 9,951
Corporation tax 12,555 5,468
VAT 5,888 11,259
Net wages - 1,210
Other creditors 5,441 489
Accruals and deferred income - 2,340
Directors' loan accounts 21,316 353
Payments on account - 67,853
52,380 141,150
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 23,320
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5