Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 07783894 Mrs Rachel Elizabeth Van Walsum Mr Johannes Jacobus Van Walsum Mr Jordi Martin Mont Mr Thomas Richard Hull Mrs Jurgita Santacroce Ms Angela Marie Christine Sulivan Ms Emma Sweetland Ms Tuck May Loke iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07783894 2023-08-31 07783894 2024-08-31 07783894 2023-09-01 2024-08-31 07783894 frs-core:CurrentFinancialInstruments 2024-08-31 07783894 frs-core:Non-currentFinancialInstruments 2024-08-31 07783894 frs-core:ComputerEquipment 2024-08-31 07783894 frs-core:ComputerEquipment 2023-09-01 2024-08-31 07783894 frs-core:ComputerEquipment 2023-08-31 07783894 frs-core:ShareCapital 2024-08-31 07783894 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 07783894 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 07783894 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 07783894 frs-bus:SmallEntities 2023-09-01 2024-08-31 07783894 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 07783894 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 07783894 frs-bus:Director1 2023-09-01 2024-08-31 07783894 frs-bus:Director2 2023-09-01 2024-08-31 07783894 frs-bus:Director3 2023-09-01 2024-08-31 07783894 frs-bus:Director4 2023-09-01 2024-08-31 07783894 frs-bus:Director5 2023-09-01 2024-08-31 07783894 frs-bus:Director6 2023-09-01 2024-08-31 07783894 frs-bus:Director7 2023-09-01 2024-08-31 07783894 frs-bus:Director8 2023-09-01 2024-08-31 07783894 frs-countries:EnglandWales 2023-09-01 2024-08-31 07783894 2022-08-31 07783894 2023-08-31 07783894 2022-09-01 2023-08-31 07783894 frs-core:CurrentFinancialInstruments 2023-08-31 07783894 frs-core:Non-currentFinancialInstruments 2023-08-31 07783894 frs-core:ShareCapital 2023-08-31 07783894 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 07783894
Maestro Arts Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 07783894
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,908 11,965
11,908 11,965
CURRENT ASSETS
Debtors 5 135,419 120,387
Cash at bank and in hand 326,036 372,105
461,455 492,492
Creditors: Amounts Falling Due Within One Year 6 (152,539 ) (133,895 )
NET CURRENT ASSETS (LIABILITIES) 308,916 358,597
TOTAL ASSETS LESS CURRENT LIABILITIES 320,824 370,562
Creditors: Amounts Falling Due After More Than One Year 7 (24,553 ) (45,172 )
NET ASSETS 296,271 325,390
CAPITAL AND RESERVES
Called up share capital 8 1,282 1,282
Income Statement 294,989 324,108
SHAREHOLDERS' FUNDS 296,271 325,390
Page 1
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For the year ending 31 August 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 Income Statement.
On behalf of the board
Mr Jordi Martin Mont
Director
3rd February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Maestro Arts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07783894 . The registered office is 82 Wandsworth Bridge Road, London, SW6 2TF.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Computer Equipment 25% 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 statement of financial position 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 14)
20 14
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 September 2023 34,394
Additions 4,007
Disposals (757 )
As at 31 August 2024 37,644
Depreciation
As at 1 September 2023 22,429
Provided during the period 4,064
Disposals (757 )
As at 31 August 2024 25,736
Net Book Value
As at 31 August 2024 11,908
As at 1 September 2023 11,965
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 112,987 106,012
Prepayments and accrued income 14,947 14,375
VAT 7,485 -
135,419 120,387
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,561 12,709
Bank loans and overdrafts 20,447 19,828
Corporation tax 74,260 57,992
Other taxes and social security 9,839 9,235
VAT - 2,350
Other creditors 10,958 9,014
Accruals and deferred income 9,300 9,300
Directors' loan accounts 19,174 13,467
152,539 133,895
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,553 45,172
Maestro Arts Limited took Coronavirus Business Interruption Loan of £200,000.00 at a fixed rate of 3.08%  per year in 2020 out of which £155,000 has been paid.
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,282 1,282
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