Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 12694298 Mr M C Perrone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12694298 2023-06-30 12694298 2024-06-30 12694298 2023-07-01 2024-06-30 12694298 frs-core:CurrentFinancialInstruments 2024-06-30 12694298 frs-core:Non-currentFinancialInstruments 2024-06-30 12694298 frs-core:ComputerEquipment 2023-07-01 2024-06-30 12694298 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 12694298 frs-core:OtherResidualIntangibleAssets 2024-06-30 12694298 frs-core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 12694298 frs-core:OtherResidualIntangibleAssets 2023-06-30 12694298 frs-core:PlantMachinery 2024-06-30 12694298 frs-core:PlantMachinery 2023-07-01 2024-06-30 12694298 frs-core:PlantMachinery 2023-06-30 12694298 frs-core:ShareCapital 2024-06-30 12694298 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 12694298 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12694298 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 12694298 frs-bus:SmallEntities 2023-07-01 2024-06-30 12694298 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12694298 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12694298 frs-bus:Director1 2023-07-01 2024-06-30 12694298 frs-countries:EnglandWales 2023-07-01 2024-06-30 12694298 2022-06-30 12694298 2023-06-30 12694298 2022-07-01 2023-06-30 12694298 frs-core:CurrentFinancialInstruments 2023-06-30 12694298 frs-core:Non-currentFinancialInstruments 2023-06-30 12694298 frs-core:ShareCapital 2023-06-30 12694298 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 12694298
Peps Group Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Davey Grover Ltd
Chartered Accountants
4 Fenice Court
Phoenix Business Park
St. Neots
Cambridgeshire
PE19 8EP
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12694298
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,000 1,500
Tangible Assets 5 6,768 7,019
7,768 8,519
CURRENT ASSETS
Stocks 6 5,773 5,342
Debtors 7 9,158 7,458
Cash at bank and in hand 7,432 1,897
22,363 14,697
Creditors: Amounts Falling Due Within One Year 8 (31,454 ) (32,031 )
NET CURRENT ASSETS (LIABILITIES) (9,091 ) (17,334 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,323 ) (8,815 )
Creditors: Amounts Falling Due After More Than One Year 9 (11,777 ) -
NET LIABILITIES (13,100 ) (8,815 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Income Statement (13,101 ) (8,816 )
SHAREHOLDERS' FUNDS (13,100) (8,815)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 M C Perrone
Director
18 February 2024
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
Peps Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12694298 . The registered office is 8 King Edward Road, Bedford, Bedfordshire, MK41 9SF.
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. Going Concern Disclosure
The accounts have been prepared on the going concern basis on the assumption that the support of the company's director will continue. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of any borrowing facility.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Franchise fees are amortised over the 5 year period of the franchise agreement.
2.5. 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 25% reducing balance
Computer Equipment 33% on cost
Page 3
Page 4
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. 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. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 July 2023 2,500
As at 30 June 2024 2,500
Amortisation
As at 1 July 2023 1,000
Provided during the period 500
As at 30 June 2024 1,500
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 June 2024 1,000
As at 1 July 2023 1,500
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 July 2023 12,555
Additions 1,857
As at 30 June 2024 14,412
Depreciation
As at 1 July 2023 5,536
Provided during the period 2,108
As at 30 June 2024 7,644
Net Book Value
As at 30 June 2024 6,768
As at 1 July 2023 7,019
6. Stocks
2024 2023
£ £
Stock 5,773 5,342
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,940 5,126
Other debtors 2,218 2,332
9,158 7,458
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,009 7,718
Other loans 2,733 -
Other creditors 7,152 21,470
Taxation and social security 2,560 2,843
31,454 32,031
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 11,777 -
11,777 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 6