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Registered number: 10703967
Arthurs, Insaidoo & Asmah Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10703967
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,183 36,472
29,183 36,472
CURRENT ASSETS
Debtors 5 180,419 136,620
Cash at bank and in hand 17,100 33,043
197,519 169,663
Creditors: Amounts Falling Due Within One Year 6 (70,650 ) (47,600 )
NET CURRENT ASSETS (LIABILITIES) 126,869 122,063
TOTAL ASSETS LESS CURRENT LIABILITIES 156,052 158,535
Creditors: Amounts Falling Due After More Than One Year 7 (39,797 ) (49,135 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (3,801 ) (5,186 )
NET ASSETS 112,454 104,214
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 112,354 104,114
SHAREHOLDERS' FUNDS 112,454 104,214
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Mary-Joyce Insaidoo
Director
23rd 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
Arthurs, Insaidoo & Asmah Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10703967 . The registered office is 2A Station Road, Birchington, Kent, CT7 9DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
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 rendering of services.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. 
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 5 years, straight line
Motor Vehicles 4 years, straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% Straight line
Assets considered to fully lose their value in the year of acquisition are fully depreciated at acquisition. 
2.5. Leasing and Hire Purchase Contracts
Hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. 
Finance leases
Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives.
Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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 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.
2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 6)
8 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 675 46,940 4,860 5,918 58,393
Additions - - 1,771 1,000 2,771
As at 30 April 2024 675 46,940 6,631 6,918 61,164
Depreciation
As at 1 May 2023 12 16,444 1,770 3,695 21,921
Provided during the period 84 7,617 949 1,410 10,060
As at 30 April 2024 96 24,061 2,719 5,105 31,981
Net Book Value
As at 30 April 2024 579 22,879 3,912 1,813 29,183
As at 1 May 2023 663 30,496 3,090 2,223 36,472
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,694 39,646
Prepayments and accrued income 1,937 3,670
Other taxes and social security - 922
34,631 44,238
Due after more than one year
Amounts owed by joint-ventures 145,788 92,382
180,419 136,620
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,850 5,751
Trade creditors 29,904 4,658
Bank loans and overdrafts 3,275 3,201
Corporation tax 4,632 13,520
Other taxes and social security 385 -
VAT 22,134 14,559
Other creditors 366 -
Accruals and deferred income 3,748 849
Government grants within one year - 750
Director's loan account 356 4,312
70,650 47,600
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,472 22,322
Bank loans 23,325 26,813
39,797 49,135
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 9,452 12,773
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,850 5,751
Later than one year and not later than five years 16,472 22,322
22,322 28,073
22,322 28,073
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9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 3,801 5,186
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
11. Related Party Transactions
During the financial year the company leant money to a joint venture Company for the development of the premises used by this Company. This loan was towards capital costs and is a related loan as the debtor is related to a key member of the board. This loan is interest free, no set repayment terms have been agreed. The maximum outstanding on this loan at any one point during the year is 2024 - £145,788 (2023 - £92,382). The balance due at the end of the year 2024 - £145,788 (2023 - £92,382).
During the financial year the company paid rent amounting to 2024 - £14,400 (2023 - £14,400) to a Company related by mutual contral and ownership to members of the board. The amount paid for the period incurred by the Directors is considered to be market value by the Directors.
12. Ultimate Controlling Party
The company's ultimate controlling party is Mary-Joyce INSAIDOO by virtue of ownership of 100% of the issued share capital in the company.
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