Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 05776108 Mr Shaun Lee Mr Neil Bishop Mr Mark Williams Mr Shaun Lee iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05776108 2023-04-30 05776108 2024-04-30 05776108 2023-05-01 2024-04-30 05776108 frs-core:CurrentFinancialInstruments 2024-04-30 05776108 frs-core:Non-currentFinancialInstruments 2024-04-30 05776108 frs-core:ComputerEquipment 2024-04-30 05776108 frs-core:ComputerEquipment 2023-05-01 2024-04-30 05776108 frs-core:ComputerEquipment 2023-04-30 05776108 frs-core:NetGoodwill 2024-04-30 05776108 frs-core:NetGoodwill 2023-05-01 2024-04-30 05776108 frs-core:NetGoodwill 2023-04-30 05776108 frs-core:PlantMachinery 2024-04-30 05776108 frs-core:PlantMachinery 2023-05-01 2024-04-30 05776108 frs-core:PlantMachinery 2023-04-30 05776108 frs-core:OtherReservesSubtotal 2024-04-30 05776108 frs-core:ShareCapital 2024-04-30 05776108 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05776108 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05776108 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05776108 frs-bus:SmallEntities 2023-05-01 2024-04-30 05776108 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05776108 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05776108 frs-bus:Director1 2023-05-01 2024-04-30 05776108 frs-bus:Director2 2023-05-01 2024-04-30 05776108 frs-bus:Director3 2023-05-01 2024-04-30 05776108 frs-bus:Director3 2023-04-30 05776108 frs-bus:Director3 2024-04-30 05776108 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 05776108 frs-countries:EnglandWales 2023-05-01 2024-04-30 05776108 2022-04-30 05776108 2023-04-30 05776108 2022-05-01 2023-04-30 05776108 frs-core:CurrentFinancialInstruments 2023-04-30 05776108 frs-core:Non-currentFinancialInstruments 2023-04-30 05776108 frs-core:OtherReservesSubtotal 2023-04-30 05776108 frs-core:ShareCapital 2023-04-30 05776108 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05776108
Smarter Accounting Services 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: 05776108
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 20,905 26,333
20,905 26,333
CURRENT ASSETS
Stocks 6 500 500
Debtors 7 356,388 283,939
Cash at bank and in hand 104,277 84,070
461,165 368,509
Creditors: Amounts Falling Due Within One Year 8 (259,469 ) (204,812 )
NET CURRENT ASSETS (LIABILITIES) 201,696 163,697
TOTAL ASSETS LESS CURRENT LIABILITIES 222,601 190,030
Creditors: Amounts Falling Due After More Than One Year 9 (29,167 ) (34,722 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,226 ) (6,583 )
NET ASSETS 188,208 148,725
CAPITAL AND RESERVES
Called up share capital 10 100 100
Other reserves (10,100 ) (20,100 )
Profit and Loss Account 198,208 168,725
SHAREHOLDERS' FUNDS 188,208 148,725
Page 1
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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 Shaun Lee
Director
Mr Neil Bishop
Director
Mr Mark Williams
Director
22 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Smarter Accounting Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05776108 . The registered office is 138 High Street, Crediton, Devon, EX17 3DX.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 15% reducing balance
Computer Equipment 20% straight line
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.
2.6. Financial Instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.7. 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.
...CONTINUED
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2.7. 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 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.10. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.11. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 5,000
As at 30 April 2024 5,000
Amortisation
As at 1 May 2023 5,000
As at 30 April 2024 5,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 62,494 28,997 91,491
Additions - 3,171 3,171
As at 30 April 2024 62,494 32,168 94,662
Depreciation
As at 1 May 2023 49,851 15,307 65,158
Provided during the period 2,166 6,433 8,599
As at 30 April 2024 52,017 21,740 73,757
Net Book Value
As at 30 April 2024 10,477 10,428 20,905
As at 1 May 2023 12,643 13,690 26,333
6. Stocks
2024 2023
£ £
Stock 500 500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 139,079 130,890
Amounts recoverable on contracts 52,130 53,543
Other debtors 38,385 14,995
Directors' loan accounts 8,125 -
Amounts owed by other participating interests 118,669 84,511
356,388 283,939
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,492 14,984
Bank loans and overdrafts 5,556 5,556
Corporation tax 29,769 23,035
VAT 26,668 28,241
Other creditors 116,938 70,433
Accruals and deferred income 65,000 50,000
Directors' loan accounts 46 11,721
Amounts owed to other participating interests - 842
259,469 204,812
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,167 34,722
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Mark Williams - 8,125 - - 8,125
The above loan is unsecured, interest free and repayable on demand. The loan has been repaid within nine months of the year end.
12. Related Party Transactions
At the year end, 30 April 2024 the directors were owed £46 (2023: £11,721) in respect of loans held with the company. These amounts are interest free and repayable on demand.
During the year ended 30 April 2024 and previous years services were purchased from a related company. These services are considered to be at market rate.
At the year end, 30 April 2024, £118,669 (2023: £84,511) was owed to the company by related companies. These amounts are interest free, repayable on demand and are included within debtors due within one year.
At the year end, 30 April 2024, £nil (2022: £842) was owed by the company to related companies. These amounts are interest free, repayable on demand and are included within creditors due within one year.
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