Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07378909 Mr Adam Billing iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07378909 2023-03-31 07378909 2024-03-31 07378909 2023-04-01 2024-03-31 07378909 frs-core:CurrentFinancialInstruments 2024-03-31 07378909 frs-core:Non-currentFinancialInstruments 2024-03-31 07378909 frs-core:ComputerEquipment 2024-03-31 07378909 frs-core:ComputerEquipment 2023-04-01 2024-03-31 07378909 frs-core:ComputerEquipment 2023-03-31 07378909 frs-core:FurnitureFittings 2024-03-31 07378909 frs-core:FurnitureFittings 2023-04-01 2024-03-31 07378909 frs-core:FurnitureFittings 2023-03-31 07378909 frs-core:ShareCapital 2024-03-31 07378909 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07378909 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07378909 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07378909 frs-bus:SmallEntities 2023-04-01 2024-03-31 07378909 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07378909 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07378909 frs-bus:Director1 2023-04-01 2024-03-31 07378909 frs-core:CurrentFinancialInstruments 1 2024-03-31 07378909 frs-countries:EnglandWales 2023-04-01 2024-03-31 07378909 2022-03-31 07378909 2023-03-31 07378909 2022-04-01 2023-03-31 07378909 frs-core:CurrentFinancialInstruments 2023-03-31 07378909 frs-core:Non-currentFinancialInstruments 2023-03-31 07378909 frs-core:ShareCapital 2023-03-31 07378909 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07378909 frs-core:CurrentFinancialInstruments 1 2023-03-31
Registered number: 07378909
TREEHOUSE INNOVATION LTD
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07378909
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,340 2,309
2,340 2,309
CURRENT ASSETS
Debtors 5 367,000 603,761
Investments 6 22,180 22,180
Cash at bank and in hand 522,921 480,408
912,101 1,106,349
Creditors: Amounts Falling Due Within One Year 7 (222,755 ) (217,817 )
NET CURRENT ASSETS (LIABILITIES) 689,346 888,532
TOTAL ASSETS LESS CURRENT LIABILITIES 691,686 890,841
Creditors: Amounts Falling Due After More Than One Year 8 (12,949 ) (21,749 )
NET ASSETS 678,737 869,092
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 678,735 869,090
SHAREHOLDERS' FUNDS 678,737 869,092
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Adam Billing
Director
24th December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
TREEHOUSE INNOVATION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 07378909 . The registered office is 82 High Street, Golborne, Warrington, WA3 3DA.
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.
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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
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 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.
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.
2.6. 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.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 5,281 21,529 26,810
Additions 427 741 1,168
As at 31 March 2024 5,708 22,270 27,978
Depreciation
As at 1 April 2023 3,798 20,703 24,501
Provided during the period 478 659 1,137
As at 31 March 2024 4,276 21,362 25,638
Net Book Value
As at 31 March 2024 1,432 908 2,340
As at 1 April 2023 1,483 826 2,309
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 188,832 308,056
Prepayments and accrued income 1,977 706
Other debtors 88,446 68,433
Corporation tax recoverable assets 10,756 10,756
Deferred tax current asset 2,475 2,475
Net wages - 636
Director's loan account 74,514 212,699
367,000 603,761
6. Current Asset Investments
2024 2023
£ £
Listed investments 22,180 22,180
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 167,421 87,978
Bank loans and overdrafts 10,648 10,648
Corporation tax 10,573 15,550
Other taxes and social security 2,410 -
VAT 28,709 23,160
Other creditors 374 80,347
Other creditors (1) 2,620 134
222,755 217,817
The bank loan relates to a Bounce Back loan facility provided by HSBC Bank. The interest is secured by the government for the first 12 months followed by a rate of 2.5% fixed for up to 10 years. The loan capital is secured by HM Government.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,949 21,749
The debt relates to a Bounce Back loan facility provided by HSBC Bank. The interest is secured by the government for the first 12 months followed by a rate of 2.5% fixed for up to 10 years. The loan capital is secured by HM Government.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5