Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 04268426 Mr P Needham Mr D Needham Mr D King iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04268426 2023-12-31 04268426 2024-12-31 04268426 2024-01-01 2024-12-31 04268426 frs-core:Non-currentFinancialInstruments 2024-12-31 04268426 frs-core:ShareCapital 2024-12-31 04268426 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 04268426 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04268426 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 04268426 frs-bus:SmallEntities 2024-01-01 2024-12-31 04268426 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04268426 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04268426 frs-bus:Director1 2024-01-01 2024-12-31 04268426 frs-bus:Director2 2024-01-01 2024-12-31 04268426 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 04268426 frs-countries:EnglandWales 2024-01-01 2024-12-31 04268426 2022-12-31 04268426 2023-12-31 04268426 2023-01-01 2023-12-31 04268426 frs-core:Non-currentFinancialInstruments 2023-12-31 04268426 frs-core:ShareCapital 2023-12-31 04268426 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 04268426
Eastern Credit Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3
Page 1
Abridged Balance Sheet
Registered number: 04268426
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 25,393,421 24,299,687
Cash at bank and in hand 34,934 -
25,428,355 24,299,687
Creditors: Amounts Falling Due Within One Year (4,218,842 ) (3,817,276 )
NET CURRENT ASSETS (LIABILITIES) 21,209,513 20,482,411
TOTAL ASSETS LESS CURRENT LIABILITIES 21,209,513 20,482,411
Creditors: Amounts Falling Due After More Than One Year (5,080,000 ) (5,830,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (217,442 ) (385,632 )
NET ASSETS 15,912,071 14,266,779
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Profit and Loss Account 15,902,071 14,256,779
SHAREHOLDERS' FUNDS 15,912,071 14,266,779
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For the year ending 31 December 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr P Needham
Director
22 February 2025
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Eastern Credit Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04268426 . The registered office is 1 Blackfriars Court, Excalibur Road, Gorleston, Great Yarmouth, Norfolk , NR31 7RQ.
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 comprises the fair value of the consideration received for the finance charges earned on an actuarial basis in the ordinary course of the Company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.
2.3. Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
2.4. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Debtors
2024 2023
£ £
Due after more than one year
Other debtors 5,302,069 8,263,999
5. Secured creditors
Creditors due within one year include loans made by Mr D Needham which are secured by a debenture over the assets of the company. The carrying amount at the year end was £1,963,904 (2023: £1,870,090).
Creditors due after more than one year include bank loans and overdrafts which are secured by a debenture over the assets of the company. The carrying amount at the year end was £nil (2023: £750,000). 
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