Acorah Software Products - Accounts Production 16.1.300 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 8389874 Mr Christopher West Mrs Tracy West iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 8389874 2023-02-28 8389874 2024-02-28 8389874 2023-03-01 2024-02-28 8389874 frs-core:CurrentFinancialInstruments 2024-02-28 8389874 frs-core:Non-currentFinancialInstruments 2024-02-28 8389874 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-28 8389874 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-01 2024-02-28 8389874 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 8389874 frs-core:NetGoodwill 2024-02-28 8389874 frs-core:NetGoodwill 2023-03-01 2024-02-28 8389874 frs-core:NetGoodwill 2023-02-28 8389874 frs-core:PlantMachinery 2024-02-28 8389874 frs-core:PlantMachinery 2023-03-01 2024-02-28 8389874 frs-core:PlantMachinery 2023-02-28 8389874 frs-core:ShareCapital 2024-02-28 8389874 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 8389874 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 8389874 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 8389874 frs-bus:SmallEntities 2023-03-01 2024-02-28 8389874 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 8389874 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 8389874 frs-bus:Director1 2023-03-01 2024-02-28 8389874 frs-bus:Director2 2023-03-01 2024-02-28 8389874 frs-countries:EnglandWales 2023-03-01 2024-02-28 8389874 2022-02-28 8389874 2023-02-28 8389874 2022-03-01 2023-02-28 8389874 frs-core:CurrentFinancialInstruments 2023-02-28 8389874 frs-core:Non-currentFinancialInstruments 2023-02-28 8389874 frs-core:ShareCapital 2023-02-28 8389874 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 8389874
100 Magenta Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Roger A Hughes
ICPA
Wayside Forge Hill
Aldington
Ashford
TN25 7DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 8389874
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,710 5,790
Tangible Assets 5 672 896
5,382 6,686
CURRENT ASSETS
Debtors 6 12,509 3,757
Cash at bank and in hand 1,538 1,450
14,047 5,207
Creditors: Amounts Falling Due Within One Year 7 (6,294 ) (5,927 )
NET CURRENT ASSETS (LIABILITIES) 7,753 (720 )
TOTAL ASSETS LESS CURRENT LIABILITIES 13,135 5,966
Creditors: Amounts Falling Due After More Than One Year 8 (8,692 ) (11,027 )
NET ASSETS/(LIABILITIES) 4,443 (5,061 )
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 3,443 (6,061 )
SHAREHOLDERS' FUNDS 4,443 (5,061)
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
Mrs Tracy West
Director
22nd February 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
100 Magenta Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8389874 . The registered office is 84 Cradlebridge Drive, Willesborough, Ashford, Kent, TN24 0RF.
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 .... years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
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 15% on reducing balance
Page 3
Page 4
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 year 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 asset reflects 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: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 March 2023 25,000 - 25,000
As at 28 February 2024 25,000 - 25,000
Amortisation
As at 1 March 2023 18,188 1,022 19,210
Provided during the period - 1,080 1,080
As at 28 February 2024 18,188 2,102 20,290
Net Book Value
As at 28 February 2024 6,812 (2,102 ) 4,710
As at 1 March 2023 6,812 (1,022 ) 5,790
Page 4
Page 5
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 3,870
As at 28 February 2024 3,870
Depreciation
As at 1 March 2023 2,974
Provided during the period 224
As at 28 February 2024 3,198
Net Book Value
As at 28 February 2024 672
As at 1 March 2023 896
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,810
Directors' loan accounts 12,509 1,947
12,509 3,757
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 940 1,025
Corporation tax 4,991 4,626
Other taxes and social security 363 276
6,294 5,927
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 8,692 11,027
Page 5
Page 6
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 9,000 21,000
During the year an interim Dividend of £21.00 per ordinary share was declared
Page 6