Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2023 7 December 2021 false 1 March 2023 28 February 2024 28 February 2024 NI684294 Mr Chris Brown Ms Arlene O'Connor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI684294 2023-02-28 NI684294 2024-02-28 NI684294 2023-03-01 2024-02-28 NI684294 frs-core:CurrentFinancialInstruments 2024-02-28 NI684294 frs-core:FurnitureFittings 2024-02-28 NI684294 frs-core:FurnitureFittings 2023-03-01 2024-02-28 NI684294 frs-core:FurnitureFittings 2023-02-28 NI684294 frs-core:NetGoodwill 2024-02-28 NI684294 frs-core:NetGoodwill 2023-03-01 2024-02-28 NI684294 frs-core:NetGoodwill 2023-02-28 NI684294 frs-core:ShareCapital 2024-02-28 NI684294 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 NI684294 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 NI684294 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 NI684294 frs-bus:SmallEntities 2023-03-01 2024-02-28 NI684294 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 NI684294 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 NI684294 frs-bus:Director1 2023-03-01 2024-02-28 NI684294 frs-bus:Director2 2023-03-01 2024-02-28 NI684294 frs-countries:NorthernIreland 2023-03-01 2024-02-28 NI684294 2021-12-06 NI684294 2023-02-28 NI684294 2021-12-07 2023-02-28 NI684294 frs-core:CurrentFinancialInstruments 2023-02-28 NI684294 frs-core:ShareCapital 2023-02-28 NI684294 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: NI684294
Brown O'Connor Group Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Allen Fleming CA Limited
Chartered Accountants & Chartered Tax Advisors
161-163 Upper Lisburn Road
Finaghy
Belfast
BT10 0LJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI684294
28 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 80,000 90,000
Tangible Assets 5 5,215 1,716
85,215 91,716
CURRENT ASSETS
Debtors 6 123,109 98,510
Cash at bank and in hand 194,539 186,986
317,648 285,496
Creditors: Amounts Falling Due Within One Year 7 (175,831 ) (173,181 )
NET CURRENT ASSETS (LIABILITIES) 141,817 112,315
TOTAL ASSETS LESS CURRENT LIABILITIES 227,032 204,031
NET ASSETS 227,032 204,031
CAPITAL AND RESERVES
Called up share capital 8 10 10
Profit and Loss Account 227,022 204,021
SHAREHOLDERS' FUNDS 227,032 204,031
Page 1
Page 2
For the year ending 28 February 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 Chris Brown
Director
Ms Arlene O'Connor
Director
16 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Brown O'Connor Group Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI684294 . The registered office is Suite 3.09 Titanic Suites, 55-59 Adelaide Street, Belfast, BT2 8FE.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Fixtures & Fittings 25% straight line
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.
...CONTINUED
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2.5. Taxation - continued
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: 8 (2023: 9)
8 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 100,000
As at 28 February 2024 100,000
Amortisation
As at 1 March 2023 10,000
Provided during the period 10,000
As at 28 February 2024 20,000
Net Book Value
As at 28 February 2024 80,000
As at 1 March 2023 90,000
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 2,288
Additions 5,428
As at 28 February 2024 7,716
Depreciation
As at 1 March 2023 572
Provided during the period 1,929
As at 28 February 2024 2,501
Net Book Value
As at 28 February 2024 5,215
As at 1 March 2023 1,716
6. Debtors
28 February 2024 28 February 2023
£ £
Due within one year
Trade debtors 99,279 98,510
Other debtors 23,830 -
123,109 98,510
7. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
£ £
Bank loans and overdrafts - 14,641
Corporation tax 59,522 49,774
Other taxes and social security 5,358 5,344
VAT 40,345 42,896
Accruals and deferred income 25,962 15,192
Directors' loan accounts 44,644 45,334
175,831 173,181
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8. Share Capital
28 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 10 10
Page 6