Acorah Software Products - Accounts Production 16.1.200 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08850523 Paul Brown Edward Duguid Simon Orange iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08850523 2023-03-31 08850523 2024-03-31 08850523 2023-04-01 2024-03-31 08850523 frs-core:CurrentFinancialInstruments 2024-03-31 08850523 frs-core:ComputerEquipment 2024-03-31 08850523 frs-core:ComputerEquipment 2023-04-01 2024-03-31 08850523 frs-core:ComputerEquipment 2023-03-31 08850523 frs-core:FurnitureFittings 2024-03-31 08850523 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08850523 frs-core:FurnitureFittings 2023-03-31 08850523 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 08850523 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08850523 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 08850523 frs-core:PlantMachinery 2024-03-31 08850523 frs-core:PlantMachinery 2023-04-01 2024-03-31 08850523 frs-core:PlantMachinery 2023-03-31 08850523 frs-core:SharePremium 2024-03-31 08850523 frs-core:ShareCapital 2024-03-31 08850523 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08850523 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08850523 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08850523 frs-bus:SmallEntities 2023-04-01 2024-03-31 08850523 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08850523 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08850523 frs-core:OtherProvisionsContingentLiabilities 2023-04-01 2024-03-31 08850523 frs-core:OtherProvisionsContingentLiabilities 2023-03-31 08850523 frs-core:OtherProvisionsContingentLiabilities 2024-03-31 08850523 frs-bus:Director1 2023-04-01 2024-03-31 08850523 frs-bus:Director2 2023-04-01 2024-03-31 08850523 frs-bus:Director3 2023-04-01 2024-03-31 08850523 frs-bus:Director3 2023-03-31 08850523 frs-bus:Director3 2024-03-31 08850523 frs-core:CurrentFinancialInstruments 1 2024-03-31 08850523 frs-core:CurrentFinancialInstruments 2 2024-03-31 08850523 frs-countries:EnglandWales 2023-04-01 2024-03-31 08850523 2022-03-31 08850523 2023-03-31 08850523 2022-04-01 2023-03-31 08850523 frs-core:CurrentFinancialInstruments 2023-03-31 08850523 frs-core:SharePremium 2023-03-31 08850523 frs-core:ShareCapital 2023-03-31 08850523 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 08850523 frs-core:CurrentFinancialInstruments 1 2023-03-31 08850523 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 08850523
Powder Bowl Trading Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08850523
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,185 277,138
7,185 277,138
CURRENT ASSETS
Stocks 5 3,862 -
Debtors 6 2,848,111 2,257,252
Cash at bank and in hand 2,264,337 4,882,192
5,116,310 7,139,444
Creditors: Amounts Falling Due Within One Year 7 (2,986,831 ) (3,047,235 )
NET CURRENT ASSETS (LIABILITIES) 2,129,479 4,092,209
TOTAL ASSETS LESS CURRENT LIABILITIES 2,136,664 4,369,347
PROVISIONS FOR LIABILITIES
Provisions For Charges 8 (25,982 ) (50,475 )
NET ASSETS 2,110,682 4,318,872
CAPITAL AND RESERVES
Called up share capital 9 15,984 15,984
Share premium account 12,190,048 12,190,048
Profit and Loss Account (10,095,350 ) (7,887,160 )
SHAREHOLDERS' FUNDS 2,110,682 4,318,872
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For the year ending 31 March 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
Edward Duguid
Director
03/01/2025
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
Powder Bowl Trading Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08850523 . The registered office is 5 Merchant Square, London, W2 1AY.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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 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.
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:
Leasehold Improvements 10 years
Plant & Machinery 3 years
Fixtures & Fittings 3 years
Computer Equipment 2 years
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
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents comprise cash balances and call deposits.

2.7. 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.
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2.8. 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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. 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.
2.10. Charitable Donations
The company continues to have a positive impact on the community through charitable donations and other activities in line with its commitment to its B-Corporation status. Donations with a value of £74,980 were contributed during the year (2023: £62,916) by the company to support charitable causes and the wider community.
2.11. Provisions for Liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, considering the risks and uncertainties surrounding the obligation. Provisions are measured at the transaction price.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 29)
29 29
4. Tangible Assets
Land & Property
Leasehold Improvements Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 32,518 291,449 20,455 46,368 390,790
Additions - 2,675 - 2,065 4,740
Disposals - (294,124 ) - (247 ) (294,371 )
As at 31 March 2024 32,518 - 20,455 48,186 101,159
Depreciation
As at 1 April 2023 16,113 47,927 11,935 37,677 113,652
...CONTINUED
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Provided during the period 16,405 - 3,745 8,346 28,496
Disposals - (47,927 ) - (247 ) (48,174 )
As at 31 March 2024 32,518 - 15,680 45,776 93,974
Net Book Value
As at 31 March 2024 - - 4,775 2,410 7,185
As at 1 April 2023 16,405 243,522 8,520 8,691 277,138
5. Stocks
2024 2023
£ £
Stock 3,862 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,574,573 1,999,191
Prepayments and accrued income 117,957 72,634
Other debtors 48,774 46,202
Rent deposit 25,982 50,475
VAT (recoverable) 70,825 88,750
Directors' loan accounts 10,000 -
2,848,111 2,257,252
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,514,194 1,572,121
Other taxes and social security 49,661 73,450
Net wages 25,120 -
Other creditors 242,811 144,782
Accruals and deferred income 1,155,045 1,256,882
2,986,831 3,047,235
8. Provisions for Liabilities
Other Provisions Total
£ £
As at 1 April 2023 50,475 50,475
Reversals (24,493 ) (24,493)
Balance at 31 March 2024 25,982 25,982
The company has an unprotected rent deposit with its landlord. In consideration of the UK economy and the significant financial challenges faced by the landlord, the company consider the recovery of this deposit a risk and the loss probable.
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 15,984 15,984
10. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £25,120. (PY £26,394) were due to the fund. They are included in Other Creditors.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Paul Brown - 10,000 - - 10,000
The above loan is unsecured, interest free and repayable on demand. The loan was fully repaid in October 2024.
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