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 03493135 Mr S Connor Mr J A Phillips iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03493135 2023-04-30 03493135 2024-04-30 03493135 2023-05-01 2024-04-30 03493135 frs-core:CurrentFinancialInstruments 2024-04-30 03493135 frs-core:Non-currentFinancialInstruments 2024-04-30 03493135 frs-core:FurnitureFittings 2024-04-30 03493135 frs-core:FurnitureFittings 2023-05-01 2024-04-30 03493135 frs-core:FurnitureFittings 2023-04-30 03493135 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 03493135 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 03493135 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 03493135 frs-core:CapitalRedemptionReserve 2024-04-30 03493135 frs-core:ShareCapital 2024-04-30 03493135 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03493135 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03493135 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03493135 frs-bus:SmallEntities 2023-05-01 2024-04-30 03493135 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03493135 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03493135 frs-bus:Director1 2023-05-01 2024-04-30 03493135 frs-bus:Director2 2023-05-01 2024-04-30 03493135 frs-countries:EnglandWales 2023-05-01 2024-04-30 03493135 2022-04-30 03493135 2023-04-30 03493135 2022-05-01 2023-04-30 03493135 frs-core:CurrentFinancialInstruments 2023-04-30 03493135 frs-core:Non-currentFinancialInstruments 2023-04-30 03493135 frs-core:CapitalRedemptionReserve 2023-04-30 03493135 frs-core:ShareCapital 2023-04-30 03493135 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
XBZ Limited
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: 03493135
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,880 33,109
23,880 33,109
CURRENT ASSETS
Debtors 5 161,846 167,179
Cash at bank and in hand 8,683 29,467
170,529 196,646
Creditors: Amounts Falling Due Within One Year 6 (154,938 ) (134,065 )
NET CURRENT ASSETS (LIABILITIES) 15,591 62,581
TOTAL ASSETS LESS CURRENT LIABILITIES 39,471 95,690
Creditors: Amounts Falling Due After More Than One Year 7 (36,775 ) (66,856 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,200 ) (1,550 )
NET ASSETS 1,496 27,284
CAPITAL AND RESERVES
Called up share capital 8 30,945 30,945
Capital redemption reserve 4,055 4,055
Profit and Loss Account (33,504 ) (7,716 )
SHAREHOLDERS' FUNDS 1,496 27,284
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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 J A Phillips
Director
31 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
XBZ Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03493135 . The registered office is 7-11 Moorgate, London, EC2R 6AF.
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.
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:
Leasehold property over the period left on the lease
Office fixtures, fittings, equipment 25% on reducing balance
2.4. 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.
2.5. 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 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Land & Property
Leasehold property Office fixtures, fittings, equipment Total
£ £ £
Cost
As at 1 May 2023 62,449 46,818 109,267
Additions - 361 361
As at 30 April 2024 62,449 47,179 109,628
Depreciation
As at 1 May 2023 37,470 38,688 76,158
Provided during the period 7,494 2,096 9,590
As at 30 April 2024 44,964 40,784 85,748
Net Book Value
As at 30 April 2024 17,485 6,395 23,880
As at 1 May 2023 24,979 8,130 33,109
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 107,296 108,130
Prepayments and accrued income - 2,440
Other debtors - 25,000
Directors' loan accounts 54,550 31,609
161,846 167,179
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 74,875 63,227
Bank loans and overdrafts 30,000 30,000
Corporation tax 8,338 9,726
Other taxes and social security 423 421
Other creditors 30,000 8,891
Accruals and deferred income 11,302 21,800
154,938 134,065
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 36,775 66,856
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30,945 30,945
9. Directors Advances, Credits and Guarantees
2024
2023
£
£
Balance outstanding at start of year
31,609
26,404
Amounts advanced
54,550
31,609
Amounts repaid
(31,609)
image
(26,404)
image
Balance outstanding at end of year
54,550
image
31,609
image
The amount owed by the directors of £54,550 will be repaid to the company by 31/1/25.
10. Related Party Transactions
The directors, Mr S P Connor and Mr J Phillips are the main beneficiaries of a self-invested personal pension (SIPP). The SIPP owns a property which is leased to the company for a period of 10 years, and for which the company was charged rent of £14,967 during this financial year (2023: £69,167).
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