Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 05452871 Mr Mansoor Yousuf Mrs Rachel Yousuf Mr Nathanael Yousuf iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05452871 2023-05-31 05452871 2024-05-31 05452871 2023-06-01 2024-05-31 05452871 frs-core:CurrentFinancialInstruments 2024-05-31 05452871 frs-core:Non-currentFinancialInstruments 2024-05-31 05452871 frs-core:BetweenOneFiveYears 2024-05-31 05452871 frs-core:NetGoodwill 2024-05-31 05452871 frs-core:NetGoodwill 2023-06-01 2024-05-31 05452871 frs-core:NetGoodwill 2023-05-31 05452871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 05452871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05452871 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 05452871 frs-core:MotorVehicles 2024-05-31 05452871 frs-core:MotorVehicles 2023-06-01 2024-05-31 05452871 frs-core:MotorVehicles 2023-05-31 05452871 frs-core:PlantMachinery 2024-05-31 05452871 frs-core:PlantMachinery 2023-06-01 2024-05-31 05452871 frs-core:PlantMachinery 2023-05-31 05452871 frs-core:WithinOneYear 2024-05-31 05452871 frs-core:ShareCapital 2024-05-31 05452871 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05452871 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05452871 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05452871 frs-bus:SmallEntities 2023-06-01 2024-05-31 05452871 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05452871 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05452871 frs-core:UnlistedNon-exchangeTraded 2024-05-31 05452871 frs-core:UnlistedNon-exchangeTraded 2023-05-31 05452871 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-05-31 05452871 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-05-31 05452871 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-05-31 05452871 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 05452871 frs-bus:Director1 2023-06-01 2024-05-31 05452871 frs-bus:Director2 2023-06-01 2024-05-31 05452871 frs-bus:Director3 2023-06-01 2024-05-31 05452871 frs-core:Non-currentFinancialInstruments 1 2024-05-31 05452871 frs-core:CurrentFinancialInstruments 3 2024-05-31 05452871 frs-core:CurrentFinancialInstruments 4 2024-05-31 05452871 frs-countries:EnglandWales 2023-06-01 2024-05-31 05452871 2022-05-31 05452871 2023-05-31 05452871 2022-06-01 2023-05-31 05452871 frs-core:CurrentFinancialInstruments 2023-05-31 05452871 frs-core:Non-currentFinancialInstruments 2023-05-31 05452871 frs-core:BetweenOneFiveYears 2023-05-31 05452871 frs-core:WithinOneYear 2023-05-31 05452871 frs-core:ShareCapital 2023-05-31 05452871 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 05452871 frs-core:Non-currentFinancialInstruments 1 2023-05-31 05452871 frs-core:CurrentFinancialInstruments 3 2023-05-31 05452871 frs-core:CurrentFinancialInstruments 4 2023-05-31
Registered number: 05452871
Solid Rock Accountancy Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Solid Rock Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05452871
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 55,240 44,080
Tangible Assets 5 261,966 269,704
Investments 6 100 100
317,306 313,884
CURRENT ASSETS
Debtors 7 19,237 22,428
Cash at bank and in hand 91,658 81,710
110,895 104,138
Creditors: Amounts Falling Due Within One Year 8 (121,438 ) (225,186 )
NET CURRENT ASSETS (LIABILITIES) (10,543 ) (121,048 )
TOTAL ASSETS LESS CURRENT LIABILITIES 306,763 192,836
Creditors: Amounts Falling Due After More Than One Year 9 (259,217 ) (161,626 )
NET ASSETS 47,546 31,210
CAPITAL AND RESERVES
Called up share capital 11 923 990
Profit and Loss Account 46,623 30,220
SHAREHOLDERS' FUNDS 47,546 31,210
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For the year ending 31 May 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 Nathanael Yousuf
Director
14/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Solid Rock Accountancy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05452871 . The registered office is Clarence House, 35 Clarence Street, Market Harborough, Leicestershire, LE16 7NE.
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. 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:
Freehold 0%
Plant & Machinery 15%
Motor Vehicles 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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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: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 61,100
Additions 15,000
As at 31 May 2024 76,100
Amortisation
As at 1 June 2023 17,020
Provided during the period 3,840
As at 31 May 2024 20,860
Net Book Value
As at 31 May 2024 55,240
As at 1 June 2023 44,080
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 June 2023 228,721 70,674 28,290 327,685
As at 31 May 2024 228,721 70,674 28,290 327,685
Depreciation
As at 1 June 2023 - 45,604 12,377 57,981
Provided during the period - 3,760 3,978 7,738
As at 31 May 2024 - 49,364 16,355 65,719
Net Book Value
As at 31 May 2024 228,721 21,310 11,935 261,966
As at 1 June 2023 228,721 25,070 15,913 269,704
6. Investments
Unlisted
£
Cost
As at 1 June 2023 100
As at 31 May 2024 100
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 100
As at 1 June 2023 100
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,237 22,008
Other debtors - 420
19,237 22,428
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,347 4,347
Trade creditors 2,943 250
Corporation tax 42,733 32,059
Other taxes and social security 1,453 990
VAT 30,524 29,835
Deposits - 128,747
Other creditors (3) 10,938 16,057
Share Creditor 28,500 12,750
Accruals and deferred income - 151
121,438 225,186
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,907 16,254
Bank loans 73,081 83,235
CBILS Loan (Long term liabilities - creditors > 1 year) 22,000 33,000
Directors loan account 152,229 29,137
259,217 161,626
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,347 4,347
Later than one year and not later than five years 11,907 16,254
16,254 20,601
16,254 20,601
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 923 990
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