Acorah Software Products - Accounts Production 16.1.200 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 04158516 S S Digva K S Digva B S Digva S S Digva iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04158516 2023-06-30 04158516 2024-06-30 04158516 2023-07-01 2024-06-30 04158516 frs-core:CurrentFinancialInstruments 2024-06-30 04158516 frs-core:Non-currentFinancialInstruments 2024-06-30 04158516 frs-core:BetweenOneFiveYears 2024-06-30 04158516 frs-core:FurnitureFittings 2024-06-30 04158516 frs-core:FurnitureFittings 2023-07-01 2024-06-30 04158516 frs-core:FurnitureFittings 2023-06-30 04158516 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 04158516 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 04158516 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 04158516 frs-core:MotorVehicles 2024-06-30 04158516 frs-core:MotorVehicles 2023-07-01 2024-06-30 04158516 frs-core:MotorVehicles 2023-06-30 04158516 frs-core:WithinOneYear 2024-06-30 04158516 frs-core:ShareCapital 2024-06-30 04158516 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 04158516 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04158516 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 04158516 frs-bus:SmallEntities 2023-07-01 2024-06-30 04158516 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04158516 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04158516 frs-bus:Director1 2023-07-01 2024-06-30 04158516 frs-bus:Director2 2023-07-01 2024-06-30 04158516 frs-bus:Director3 2023-07-01 2024-06-30 04158516 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 04158516 frs-countries:EnglandWales 2023-07-01 2024-06-30 04158516 2022-06-30 04158516 2023-06-30 04158516 2022-07-01 2023-06-30 04158516 frs-core:CurrentFinancialInstruments 2023-06-30 04158516 frs-core:Non-currentFinancialInstruments 2023-06-30 04158516 frs-core:BetweenOneFiveYears 2023-06-30 04158516 frs-core:WithinOneYear 2023-06-30 04158516 frs-core:ShareCapital 2023-06-30 04158516 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 04158516
In Phase International Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04158516
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 171,479 147,365
171,479 147,365
CURRENT ASSETS
Stocks 5 2,526,019 2,301,630
Debtors 6 5,873,098 6,168,014
Cash at bank and in hand 775,665 549,674
9,174,782 9,019,318
Creditors: Amounts Falling Due Within One Year 7 (4,502,968 ) (4,061,889 )
NET CURRENT ASSETS (LIABILITIES) 4,671,814 4,957,429
TOTAL ASSETS LESS CURRENT LIABILITIES 4,843,293 5,104,794
Creditors: Amounts Falling Due After More Than One Year 8 (192,943 ) (392,519 )
NET ASSETS 4,650,350 4,712,275
CAPITAL AND RESERVES
Called up share capital 11 6,000 6,000
Profit and Loss Account 4,644,350 4,706,275
SHAREHOLDERS' FUNDS 4,650,350 4,712,275
Page 1
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For the year ending 30 June 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
S S Digva
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
In Phase International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04158516 . The registered office is Db House, Rani Drive, Nottingham, NG5 1RF.
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:
Leasehold 10% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Included within the net book value of land and buildings above is £92,045 (2023 - £109,921) in respect of short leasehold land and buildings.
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 are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.
At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
2.6. 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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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 44 (2023: 44)
44 44
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 652,235 224,937 245,341 1,122,513
Additions - 58,825 5,587 64,412
As at 30 June 2024 652,235 283,762 250,928 1,186,925
Depreciation
As at 1 July 2023 542,314 199,128 233,706 975,148
Provided during the period 17,876 16,926 5,496 40,298
As at 30 June 2024 560,190 216,054 239,202 1,015,446
Net Book Value
As at 30 June 2024 92,045 67,708 11,726 171,479
As at 1 July 2023 109,921 25,809 11,635 147,365
5. Stocks
2024 2023
£ £
Materials 2,526,019 2,301,630
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,959,407 2,307,567
Other debtors 3,913,691 3,860,447
5,873,098 6,168,014
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,861 12,247
Trade creditors 1,454,122 1,630,079
Bank loans and overdrafts 200,000 200,000
Other creditors 2,450,295 1,671,710
Taxation and social security 380,690 547,853
4,502,968 4,061,889
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,609 9,185
Bank loans 183,334 383,334
192,943 392,519
9. Secured Creditors
Of the creditors the following amounts are secured;
The bank loan of £383,334 (2023: £583,333) is secured by a debenture over the company's assets. 
Finance leases of £9,185 (2023: £23,379) are secured over the assets to which they relate.
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 17,861 12,247
Later than one year and not later than five years 9,609 9,185
27,470 21,432
27,470 21,432
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,000 6,000
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12. Related Party Transactions
Included within other debtors are the following balances, in respect of companies which are related by virtue of common ownership and directorships:
As at 30 June 2024 £774,195 (2023: £194,954) was owed from WSD 1 Limited.
Included within other creditors is the following balance, in respect of a company which is related by virtue of
common ownership and directorship:
As at 30 June 2024 £1,912,048 (2023: £1,345,557) was owed to Space Data Centres Ltd.
As at 30 June 2024 £262,778 (2023: £165,195) was owed to Superfi Ltd.
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