Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 04811992 Dr W Miller Mr F Miller Mrs S Corbett Dr P David Mr M Fenton Ms P Scoones Mr D Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04811992 2023-06-30 04811992 2024-06-30 04811992 2023-07-01 2024-06-30 04811992 frs-core:CurrentFinancialInstruments 2024-06-30 04811992 frs-core:Non-currentFinancialInstruments 2024-06-30 04811992 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 04811992 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 04811992 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 04811992 frs-core:PlantMachinery 2024-06-30 04811992 frs-core:PlantMachinery 2023-07-01 2024-06-30 04811992 frs-core:PlantMachinery 2023-06-30 04811992 frs-core:SharePremium 2024-06-30 04811992 frs-core:ShareCapital 2024-06-30 04811992 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 04811992 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04811992 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 04811992 frs-bus:SmallEntities 2023-07-01 2024-06-30 04811992 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04811992 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04811992 frs-bus:Director1 2023-07-01 2024-06-30 04811992 frs-bus:Director2 2023-07-01 2024-06-30 04811992 frs-bus:Director3 2023-07-01 2024-06-30 04811992 frs-bus:Director4 2023-07-01 2024-06-30 04811992 frs-bus:Director5 2023-07-01 2024-06-30 04811992 frs-bus:Director6 2023-07-01 2024-06-30 04811992 frs-bus:Director7 2023-07-01 2024-06-30 04811992 frs-core:CurrentFinancialInstruments 1 2024-06-30 04811992 frs-core:CurrentFinancialInstruments 3 2024-06-30 04811992 frs-countries:EnglandWales 2023-07-01 2024-06-30 04811992 2022-06-30 04811992 2023-06-30 04811992 2022-07-01 2023-06-30 04811992 frs-core:CurrentFinancialInstruments 2023-06-30 04811992 frs-core:Non-currentFinancialInstruments 2023-06-30 04811992 frs-core:SharePremium 2023-06-30 04811992 frs-core:ShareCapital 2023-06-30 04811992 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 04811992 frs-core:CurrentFinancialInstruments 1 2023-06-30 04811992 frs-core:CurrentFinancialInstruments 2 2023-06-30 04811992 frs-core:CurrentFinancialInstruments 3 2023-06-30
Registered number: 04811992
Track Record Global Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04811992
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 351,784 148,695
Tangible Assets 5 16,561 9,230
368,345 157,925
CURRENT ASSETS
Debtors 6 1,269,667 709,720
Cash at bank and in hand 155,154 172,906
1,424,821 882,626
Creditors: Amounts Falling Due Within One Year 7 (1,226,634 ) (627,043 )
NET CURRENT ASSETS (LIABILITIES) 198,187 255,583
TOTAL ASSETS LESS CURRENT LIABILITIES 566,532 413,508
Creditors: Amounts Falling Due After More Than One Year 8 (10,800 ) (54,949 )
NET ASSETS 555,732 358,559
CAPITAL AND RESERVES
Called up share capital 9 151 151
Share premium account 281,324 281,324
Profit and Loss Account 274,257 77,084
SHAREHOLDERS' FUNDS 555,732 358,559
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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 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 M Fenton
Director
28 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Track Record Global Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04811992 . The registered office is C/O Stark & Goldstein Associates Unit 40, Murdock Road, Bicester, Oxfordshire, OX26 4PP.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amountsin these financial statements are rounded to the nearest £.
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.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives of 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
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:
Plant & Machinery 20% straight line / 50% straight line
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 30)
42 30
4. Intangible Assets
Development Costs
£
Cost
As at 1 July 2023 505,115
Additions 265,550
As at 30 June 2024 770,665
Amortisation
As at 1 July 2023 356,420
Provided during the period 62,461
As at 30 June 2024 418,881
Net Book Value
As at 30 June 2024 351,784
As at 1 July 2023 148,695
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 30,982
Additions 13,960
As at 30 June 2024 44,942
Depreciation
As at 1 July 2023 21,752
Provided during the period 6,629
As at 30 June 2024 28,381
Net Book Value
As at 30 June 2024 16,561
As at 1 July 2023 9,230
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,058,289 488,068
Prepayments and accrued income 42,631 34,123
Corporation tax recoverable assets 82,800 82,800
Amounts owed by subsidiaries 10,791 5,712
1,194,511 610,703
Due after more than one year
Deferred tax current asset 75,156 99,017
75,156 99,017
1,269,667 709,720
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 51,478 75,902
Other loans current portions 131,726 141,726
Other taxes and social security 83,402 53,727
VAT 195,299 142,325
Net wages 3,780 157
TRG Credit card - 1,405
Pension creditor 16,997 12,913
Factoring - 25,625
Credit facility 301,059 -
Accruals and deferred income 442,893 173,263
1,226,634 627,043
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 23,884
Directors loan account 10,800 31,065
10,800 54,949
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 151 151
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