Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08756989 Mr Ben Foster Mr Alan Tytherleigh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08756989 2023-04-30 08756989 2024-04-30 08756989 2023-05-01 2024-04-30 08756989 frs-core:CurrentFinancialInstruments 2024-04-30 08756989 frs-core:Non-currentFinancialInstruments 2024-04-30 08756989 frs-core:BetweenOneFiveYears 2024-04-30 08756989 frs-core:ComputerEquipment 2024-04-30 08756989 frs-core:ComputerEquipment 2023-05-01 2024-04-30 08756989 frs-core:ComputerEquipment 2023-04-30 08756989 frs-core:FurnitureFittings 2024-04-30 08756989 frs-core:FurnitureFittings 2023-05-01 2024-04-30 08756989 frs-core:FurnitureFittings 2023-04-30 08756989 frs-core:MotorVehicles 2024-04-30 08756989 frs-core:MotorVehicles 2023-05-01 2024-04-30 08756989 frs-core:MotorVehicles 2023-04-30 08756989 frs-core:WithinOneYear 2024-04-30 08756989 frs-core:ShareCapital 2024-04-30 08756989 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08756989 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08756989 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08756989 frs-bus:SmallEntities 2023-05-01 2024-04-30 08756989 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08756989 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08756989 frs-bus:Director1 2023-05-01 2024-04-30 08756989 frs-bus:Director2 2023-05-01 2024-04-30 08756989 frs-countries:EnglandWales 2023-05-01 2024-04-30 08756989 2022-04-30 08756989 2023-04-30 08756989 2022-05-01 2023-04-30 08756989 frs-core:CurrentFinancialInstruments 2023-04-30 08756989 frs-core:Non-currentFinancialInstruments 2023-04-30 08756989 frs-core:BetweenOneFiveYears 2023-04-30 08756989 frs-core:WithinOneYear 2023-04-30 08756989 frs-core:ShareCapital 2023-04-30 08756989 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 08756989
Odyssey Wealth Management Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08756989
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110,659 44,737
110,659 44,737
CURRENT ASSETS
Stocks 5 33,353 30,225
Debtors 6 184,508 88,760
Cash at bank and in hand 76,203 102,833
294,064 221,818
Creditors: Amounts Falling Due Within One Year 7 (41,259 ) (38,275 )
NET CURRENT ASSETS (LIABILITIES) 252,805 183,543
TOTAL ASSETS LESS CURRENT LIABILITIES 363,464 228,280
Creditors: Amounts Falling Due After More Than One Year 8 (77,606 ) (27,931 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (60,249 ) -
NET ASSETS 225,609 200,349
CAPITAL AND RESERVES
Called up share capital 10 152 152
Profit and Loss Account 225,457 200,197
SHAREHOLDERS' FUNDS 225,609 200,349
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Page 2
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 Ben Foster
Director
Mr Alan Tytherleigh
Director
22 January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Odyssey Wealth Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08756989 . The registered office is The Mill, Pury Hill Business Park, Alderton Road, Towcester, Northamptonshire, NN12 7LS.
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. 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:
Motor Vehicles 25% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over 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.

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.
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.
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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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 51,090 3,489 25,353 79,932
Additions 87,540 2,357 5,133 95,030
As at 30 April 2024 138,630 5,846 30,486 174,962
Depreciation
As at 1 May 2023 12,773 3,115 19,307 35,195
Provided during the period 23,407 963 4,738 29,108
As at 30 April 2024 36,180 4,078 24,045 64,303
Net Book Value
As at 30 April 2024 102,450 1,768 6,441 110,659
As at 1 May 2023 38,317 374 6,046 44,737
5. Stocks
2024 2023
£ £
Work in progress 33,353 30,225
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6. Debtors
2024 2023
£ £
Due within one year
Other debtors 84,508 88,760
Due after more than one year
Other debtors 100,000 -
184,508 88,760
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,706 4,218
Trade creditors 1 3,000
Other creditors 4,607 10,122
Taxation and social security 25,945 20,935
41,259 38,275
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 77,606 27,931
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,706 4,218
Later than one year and not later than five years 77,606 27,931
88,312 32,149
88,312 32,149
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 152 152
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