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Registered number: 07371154
Akd Facilities Management Ltd
Strategic Report, Director's Report and
Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Strategic Report 1
Director's Report 2—3
Independent Auditor's Report 4—7
Profit and Loss Account 8
Balance Sheet 9
Statement of Changes in Equity 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13—17
Page 1
Strategic Report
The director presents his strategic report for the year ended 30 September 2023.
Principal Activity
The company's principal activity continues to be that of privision of security, cleaning, and property maintenance solutions.
Review of the Business
The Directors are satisfied with the results for the year which have been achieved in a challenging marketplace. Despite market pressures, occupancy has remained strong and fees remain  competitive as a result of the continual development of the focussed revenue strategy. 
We have taken steps to improve recruitment and retention plans by conducting a review of the terms and conditions for operational employees. 
Principal Risks and Uncertainties
The Directors are satisfied with the results for the year which have been achieved in a challenging marketplace. Despite market pressures, occupancy has remained strong and fees remain  competitive as a result of the continual development of the focussed revenue strategy. 
We have taken steps to improve recruitment and retention plans by conducting a review of the terms and conditions for operational employees. 
General types of risk faced by all businesses can be grouped into five broad categories: market risk (unexpected changes in interest rates); credit/default risk; operational risk (equipment failure, fraud); liquidity risk (inability to pay bills, inability to buy or sell commodities at quoted prices); and political risk (new regulations, new compliance, fiscal changes).
In addition, the financial future of a business enterprise can be dramatically altered by unpredictable events such as recession, or technological breakthroughs whose probability of occurrence cannot be reasonably quantified from historical data.
To a large extent, we have mitigated these risks by placing robust systems. E.g. the liquidity is closely monitored. Our team has built good reputation with clients. We offer our staff flexible team rewarded by a competitive remuneration process which can adapt to any changes that are required.
Section 172(1) Statement
The Board consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Act) in the decisions taken during the year.
On behalf of the board
A Khan
Director
6 February 2025
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 30 September 2023.
Directors
The director who held office during the year were as follows:
A Khan
Statement of Director's Responsibilities
The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Director's Report is approved:
  • so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
  • they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
Page 2
Page 3
Independent Auditors
The auditors, Hamilton Coopers, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
On behalf of the board
A Khan
Director
6 February 2025
Page 3
Page 4
Independent Auditor's Report
Opinion
We have audited the financial statements of Akd Facilities Management Ltd for the year ended 30 September 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
In our opinion the financial statements:
  • give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its profit/(loss) for the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions Relating to Going Concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
  • the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
  • the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.
Page 4
Page 5
Matters on Which We Are Required to Report by Exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
  • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
  • the financial statements are not in agreement with the accounting records or returns; or
  • certain disclosures of director's remuneration specified by law are not made; or
  • we have not received all the information and explanations we require for our audit.
Responsibilities of Directors
As explained more fully in the Director's Responsibilities Statement set out on page 2—3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 
Capability of the audit in detecting irregularities, including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.
Based on our understanding of the company and industry, and through discussion with the management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to their FCA permissions and requirements. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates and judgmental areas of the financial statements such as accrued income. 
Audit procedures performed by the engagement team included:
- Discussions with management and assessment of known or suspected instances of non compliance with laws and regulations and fraud; and
- Assessment of identified fraud risk factors; and
...CONTINUED
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Auditor's Responsibilities for the Audit of the Financial Statements - continued
- Challenging assumptions and judgements made by management in its significant accounting estimates; and
-Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
-Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
-Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
- Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
There are inherent limitations in the audit procedures described above and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the company's internal control.
-Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the members.
-Conclude on the appropriateness of the members' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the company to cease to continue as a going concern.
-Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 6
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Use Of Our Report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Asim Malik, FCA (Senior Statutory Auditor)
for and on behalf of Hamilton Coopers , Statutory Auditor
7 February 2025
Hamilton Coopers
66 Earl Street
Maidstone
Kent
ME14 1PS
Page 7
Page 8
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 3 16,351,763 15,691,930
Cost of sales (13,804,719 ) (14,442,330 )
GROSS PROFIT 2,547,044 1,249,600
Administrative expenses (1,609,452 ) (472,162 )
OPERATING PROFIT AND PROFIT BEFORE TAXATION 937,592 777,438
Tax on Profit 9 (221,307 ) (155,172 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 716,285 622,266
The notes on pages 12 to 17 form part of these financial statements.
Page 8
Page 9
Balance Sheet
Registered number: 07371154
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 10 58,009 55,263
58,009 55,263
CURRENT ASSETS
Debtors 11 3,179,764 3,217,725
Cash at bank and in hand 8,537,609 7,599,876
11,717,373 10,817,601
Creditors: Amounts Falling Due Within One Year 12 (9,058,799 ) (8,872,566 )
NET CURRENT ASSETS (LIABILITIES) 2,658,574 1,945,035
TOTAL ASSETS LESS CURRENT LIABILITIES 2,716,583 2,000,298
NET ASSETS 2,716,583 2,000,298
CAPITAL AND RESERVES
Called up share capital 13 100 100
Profit and Loss Account 2,716,483 2,000,198
SHAREHOLDERS' FUNDS 2,716,583 2,000,298
On behalf of the board
A Khan
Director
5 February 2025
The notes on pages 12 to 17 form part of these financial statements.
Page 9
Page 10
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 October 2021 100 2,087,932 2,088,032
Profit for the year and total comprehensive income - 622,266 622,266
Dividends paid - (710,000) (710,000)
As at 30 September 2022 and 1 October 2022 100 2,000,198 2,000,298
Profit for the year and total comprehensive income - 716,285 716,285
As at 30 September 2023 100 2,716,483 2,716,583
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Page 11
Statement of Cash Flows
2023 2022
Notes £ £
Cash flows from operating activities
Net cash generated from operations 1 1,620,575 5,845,791
Tax paid (633,447 ) (102,120 )
Net cash generated from operating activities 987,128 5,743,671
Cash flows from investing activities
Purchase of tangible assets (49,395 ) (44,250 )
Cash flows from financing activities
Equity dividends paid - (710,000 )
Increase in cash and cash equivalents 937,733 4,989,421
Cash and cash equivalents at beginning of year 2 7,599,876 2,610,455
Cash and cash equivalents at end of year 2 8,537,609 7,599,876
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Notes to the Statement of Cash Flows
1. Reconciliation of profit for the financial year to cash generated from operations
2023 2022
£ £
Profit for the financial year 716,285 622,266
Adjustments for:
Tax on profit 221,307 155,172
Depreciation of tangible assets 46,649 36,783
Movements in working capital:
Decrease in trade and other debtors 37,961 3,325,034
Increase in trade and other creditors 598,373 1,706,536
Net cash generated from operations 1,620,575 5,845,791
2. Cash and cash equivalents
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
2023 2022
£ £
Cash at bank and in hand 8,537,609 7,599,876
3. Analysis of changes in net funds
As at 1 October 2022 Cash flows As at 30 September 2023
£ £ £
Cash at bank and in hand 7,599,876 937,733 8,537,609
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Notes to the Financial Statements
1. General Information
Akd Facilities Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07371154 . The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.
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 "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 over 5 years
Computer Equipment over 5 years
2.4. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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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 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. Turnover
Analysis of turnover by geographical market is as follows:
2023 2022
£ £
United Kingdom 16,351,763 15,691,930
16,351,763 15,691,930
4. Operating Profit
The operating profit is stated after charging:
2023 2022
£ £
Bad debts - 23,839
Depreciation of tangible fixed assets 46,649 36,783
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5. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:
2023 2022
£ £
Audit Services
Audit of the company's financial statements 9,500 9,000
6. Staff Costs
Staff costs, including directors' remuneration, were as follows:
2023 2022
£ £
Wages and salaries 1,283,075 751,063
Social security costs 49,891 58,400
Other pension costs 6,558 7,080
1,339,524 816,543
7. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
115 67
8. Director's remuneration
2023 2022
£ £
Emoluments 50,000 50,000
9. Tax on Profit
The tax charge on the profit for the year was as follows:
Tax Rate 2023 2022
2023 2022 £ £
Current tax
UK Corporation Tax 25.0% 25.0% 221,307 155,172
Total tax charge for the period 221,307 155,172
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
...CONTINUED
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2023 2022
£ £
Profit before tax 937,592 777,438
Tax on profit at 25% (UK standard rate) 234,398 194,359
Expenses not deductible for tax purposes (5,472 ) (6,455 )
Short term timing differences (18,490 ) (32,732 )
Total tax charge for the period 210,436 155,172
10. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 October 2022 206,004 8,553 214,557
Additions 49,395 - 49,395
As at 30 September 2023 255,399 8,553 263,952
Depreciation
As at 1 October 2022 152,972 6,322 159,294
Provided during the period 44,418 2,231 46,649
As at 30 September 2023 197,390 8,553 205,943
Net Book Value
As at 30 September 2023 58,009 - 58,009
As at 1 October 2022 53,032 2,231 55,263
11. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,169,764 3,217,725
Other debtors 10,000 -
3,179,764 3,217,725
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12. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 2,466,867 2,557,878
Other creditors 6,145,498 5,575,680
Corporation tax 152,499 564,639
Taxation and social security 293,935 174,369
9,058,799 8,872,566
13. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
14. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid - 710,000
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