Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 30 March 2024 30 March 2024 SC356188 Mr Jacob Adamson Mrs Gayle Adamson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC356188 2023-03-31 SC356188 2024-03-30 SC356188 2023-04-01 2024-03-30 SC356188 frs-core:CurrentFinancialInstruments 2024-03-30 SC356188 frs-core:Non-currentFinancialInstruments 2024-03-30 SC356188 frs-core:ComputerEquipment 2024-03-30 SC356188 frs-core:ComputerEquipment 2023-04-01 2024-03-30 SC356188 frs-core:ComputerEquipment 2023-03-31 SC356188 frs-core:FurnitureFittings 2024-03-30 SC356188 frs-core:FurnitureFittings 2023-04-01 2024-03-30 SC356188 frs-core:FurnitureFittings 2023-03-31 SC356188 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-30 SC356188 frs-core:MotorVehicles 2024-03-30 SC356188 frs-core:MotorVehicles 2023-04-01 2024-03-30 SC356188 frs-core:MotorVehicles 2023-03-31 SC356188 frs-core:ShareCapital 2024-03-30 SC356188 frs-core:RetainedEarningsAccumulatedLosses 2024-03-30 SC356188 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-30 SC356188 frs-bus:FilletedAccounts 2023-04-01 2024-03-30 SC356188 frs-bus:SmallEntities 2023-04-01 2024-03-30 SC356188 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-30 SC356188 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-30 SC356188 1 2023-04-01 2024-03-30 SC356188 frs-core:UnlistedNon-exchangeTraded 2024-03-30 SC356188 frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC356188 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC356188 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-30 SC356188 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC356188 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-30 SC356188 frs-bus:Director1 2023-04-01 2024-03-30 SC356188 frs-bus:Director2 2023-04-01 2024-03-30 SC356188 frs-countries:EnglandWales 2023-04-01 2024-03-30 SC356188 2022-03-31 SC356188 2023-03-31 SC356188 2022-04-01 2023-03-31 SC356188 frs-core:CurrentFinancialInstruments 2023-03-31 SC356188 frs-core:Non-currentFinancialInstruments 2023-03-31 SC356188 frs-core:ShareCapital 2023-03-31 SC356188 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC356188
Protract Group Limited
Unaudited Financial Statements
For The Year Ended 30 March 2024
TAG Accountants Group Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC356188
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 39,136 18,382
Investments 4 100 100
39,236 18,482
CURRENT ASSETS
Debtors 5 567,720 584,307
Cash at bank and in hand 3,700 5,185
571,420 589,492
Creditors: Amounts Falling Due Within One Year 6 (83,680 ) (84,690 )
NET CURRENT ASSETS (LIABILITIES) 487,740 504,802
TOTAL ASSETS LESS CURRENT LIABILITIES 526,976 523,284
Creditors: Amounts Falling Due After More Than One Year 7 - (21,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,537 ) (3,492 )
NET ASSETS 522,439 498,125
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 522,438 498,124
SHAREHOLDERS' FUNDS 522,439 498,125
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For the year ending 30 March 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 Jacob Adamson
Director
5th February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. 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:
Freehold 20% on cost
Motor Vehicles 25% on RBM
Fixtures & Fittings 10% on cost
Computer Equipment 33% on cost
1.4. 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.
...CONTINUED
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1.4. Taxation - continued
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.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 2)
2 2
3. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 - 32,305 7,154 39,459
Additions 32,000 185 333 32,518
As at 30 March 2024 32,000 32,490 7,487 71,977
Depreciation
As at 1 April 2023 - 14,664 6,413 21,077
Provided during the period 8,000 3,249 515 11,764
As at 30 March 2024 8,000 17,913 6,928 32,841
Net Book Value
As at 30 March 2024 24,000 14,577 559 39,136
As at 1 April 2023 - 17,641 741 18,382
4. Investments
Unlisted
£
Cost
As at 1 April 2023 100
As at 30 March 2024 100
Provision
As at 1 April 2023 -
As at 30 March 2024 -
...CONTINUED
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Net Book Value
As at 30 March 2024 100
As at 1 April 2023 100
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 16,262
VAT 193 518
Amounts owed by subsidiaries 167,527 567,527
167,720 584,307
Due after more than one year
Amounts owed by subsidiaries 400,000 -
400,000 -
567,720 584,307
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 10,000
Corporation tax 35,720 53,664
Other taxes and social security 848 260
Accruals and deferred income 2,216 1,216
Directors' loan accounts 44,896 19,550
83,680 84,690
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 21,667
- 21,667
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Related Party Transactions
The balance due from group undertakings is all due by Protract Ltd (formerly Adamson Bookmakers Ltd). No interest is charged on the balance and there are no fixed terms of repayment.
10. Ultimate Controlling Party
The company's ultimate controlling party is Gayle Adamson & Jacob Yorke Adamson by virtue of their ownership of 100% of the issued share capital in the company.
11. General Information
Protract Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number SC356188 . The registered office is Clyde Offices, 48 West George Street, Glasgow, G2 1BP.
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