Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 12222035 Mr Benjamin Morgan Mrs Alice Morgan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12222035 2023-05-31 12222035 2024-05-31 12222035 2023-06-01 2024-05-31 12222035 frs-core:CurrentFinancialInstruments 2024-05-31 12222035 frs-core:Non-currentFinancialInstruments 2024-05-31 12222035 frs-core:MotorVehicles 2024-05-31 12222035 frs-core:MotorVehicles 2023-06-01 2024-05-31 12222035 frs-core:MotorVehicles 2023-05-31 12222035 frs-core:PlantMachinery 2024-05-31 12222035 frs-core:PlantMachinery 2023-06-01 2024-05-31 12222035 frs-core:PlantMachinery 2023-05-31 12222035 frs-core:ShareCapital 2024-05-31 12222035 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 12222035 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12222035 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 12222035 frs-bus:SmallEntities 2023-06-01 2024-05-31 12222035 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 12222035 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 12222035 frs-bus:Director1 2023-06-01 2024-05-31 12222035 frs-bus:Director2 2023-06-01 2024-05-31 12222035 frs-countries:EnglandWales 2023-06-01 2024-05-31 12222035 2022-05-31 12222035 2023-05-31 12222035 2022-06-01 2023-05-31 12222035 frs-core:CurrentFinancialInstruments 2023-05-31 12222035 frs-core:Non-currentFinancialInstruments 2023-05-31 12222035 frs-core:ShareCapital 2023-05-31 12222035 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 12222035
No8 Group Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12222035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 566,777 436,102
566,777 436,102
CURRENT ASSETS
Debtors 5 290,438 192,000
Cash at bank and in hand 37,163 260,848
327,601 452,848
Creditors: Amounts Falling Due Within One Year 6 (27,239 ) (51,269 )
NET CURRENT ASSETS (LIABILITIES) 300,362 401,579
TOTAL ASSETS LESS CURRENT LIABILITIES 867,139 837,681
Creditors: Amounts Falling Due After More Than One Year 7 (248,494 ) (230,328 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (108,879 ) (108,879 )
NET ASSETS 509,766 498,474
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 509,666 498,374
SHAREHOLDERS' FUNDS 509,766 498,474
Page 1
Page 2
For the year ending 31 May 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 Benjamin Morgan
Director
12/12/2024
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
No8 Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12222035 . The registered office is Wildbank, Camp Road, Cheltenham, Gloucestershire, GL52 6PS.
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:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
2.4. 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 631,610 74,735 706,345
Additions 267,515 55,430 322,945
As at 31 May 2024 899,125 130,165 1,029,290
Depreciation
As at 1 June 2023 246,931 23,312 270,243
Provided during the period 161,750 30,520 192,270
As at 31 May 2024 408,681 53,832 462,513
Net Book Value
As at 31 May 2024 490,444 76,333 566,777
As at 1 June 2023 384,679 51,423 436,102
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 263,000 192,000
VAT 22,325 -
Other taxes and social security 4,113 -
Amounts owed by associates 1,000 -
290,438 192,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,329 12,233
Bank loans and overdrafts - 3,042
Corporation tax - 19,448
VAT - 8,477
Net wages 37 2,686
Directors' loan accounts 7,873 5,383
27,239 51,269
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,428 16,622
Other creditors 231,066 213,706
248,494 230,328
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5