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 09977777 Mrs J D Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09977777 2023-05-31 09977777 2024-05-31 09977777 2023-06-01 2024-05-31 09977777 frs-core:CurrentFinancialInstruments 2024-05-31 09977777 frs-core:Non-currentFinancialInstruments 2024-05-31 09977777 frs-core:BetweenOneFiveYears 2024-05-31 09977777 frs-core:ComputerEquipment 2023-06-01 2024-05-31 09977777 frs-core:FurnitureFittings 2023-06-01 2024-05-31 09977777 frs-core:LandBuildings 2024-05-31 09977777 frs-core:LandBuildings 2023-06-01 2024-05-31 09977777 frs-core:LandBuildings 2023-05-31 09977777 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 09977777 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09977777 frs-core:MotorVehicles 2023-06-01 2024-05-31 09977777 frs-core:PlantMachinery 2024-05-31 09977777 frs-core:PlantMachinery 2023-06-01 2024-05-31 09977777 frs-core:PlantMachinery 2023-05-31 09977777 frs-core:WithinOneYear 2024-05-31 09977777 frs-core:ShareCapital 2024-05-31 09977777 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 09977777 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09977777 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 09977777 frs-bus:SmallEntities 2023-06-01 2024-05-31 09977777 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09977777 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 09977777 frs-bus:Director1 2023-06-01 2024-05-31 09977777 frs-bus:Director1 2023-05-31 09977777 frs-bus:Director1 2024-05-31 09977777 frs-countries:EnglandWales 2023-06-01 2024-05-31 09977777 2022-05-31 09977777 2023-05-31 09977777 2022-06-01 2023-05-31 09977777 frs-core:CurrentFinancialInstruments 2023-05-31 09977777 frs-core:Non-currentFinancialInstruments 2023-05-31 09977777 frs-core:BetweenOneFiveYears 2023-05-31 09977777 frs-core:WithinOneYear 2023-05-31 09977777 frs-core:ShareCapital 2023-05-31 09977777 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 09977777
Smooth Accounting Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09977777
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,404 15,618
13,404 15,618
CURRENT ASSETS
Debtors 5 97,849 88,377
Cash at bank and in hand 105,408 102,585
203,257 190,962
Creditors: Amounts Falling Due Within One Year 6 (167,304 ) (169,977 )
NET CURRENT ASSETS (LIABILITIES) 35,953 20,985
TOTAL ASSETS LESS CURRENT LIABILITIES 49,357 36,603
Creditors: Amounts Falling Due After More Than One Year 7 (28,439 ) (32,876 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,726 ) (3,540 )
NET ASSETS 18,192 187
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 18,092 87
SHAREHOLDERS' FUNDS 18,192 187
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 J D Williams
Director
28/11/2024
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
Smooth Accounting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09977777 . The registered office is 1000 Lakeside North Harbour, Western Road, Portsmouth, Hampshire, PO6 3EN.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. 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 Straightline 10 years
Leasehold Straightline 10 years
Motor Vehicles Reducing Balance 10%
Fixtures & Fittings Reducing Balance 25%
Computer Equipment Straightline 33%
2.4. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
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 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.
2.7. 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.
2.8. Borrowings
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.9. Share Capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
2.10. Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 14)
12 14
Page 4
Page 5
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 June 2023 1,475 52,469 53,944
Additions 2,500 2,276 4,776
As at 31 May 2024 3,975 54,745 58,720
Depreciation
As at 1 June 2023 18 38,308 38,326
Provided during the period 147 6,843 6,990
As at 31 May 2024 165 45,151 45,316
Net Book Value
As at 31 May 2024 3,810 9,594 13,404
As at 1 June 2023 1,457 14,161 15,618
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,454 9,470
Amounts owed by participating interests 23,931 49,332
Other debtors 41,464 29,575
97,849 88,377
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,650 16,818
Bank loans and overdrafts 6,337 6,476
Other creditors 49,653 42,447
Taxation and social security 85,664 104,236
167,304 169,977
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,459 32,876
Other loans 980 -
28,439 32,876
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 28,750 31,448
Later than one year and not later than five years 7,427 36,177
36,177 67,625
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mrs Jeri Williams (308 ) 231,236 (235,981 ) - (5,053 )
The above loan was subject to interest at the official rate of interest per HRMC. 
11. Related Party Transactions
Included in Associated Company Loans are 3 loans made to associated companies under common control of the director Jeri Williams:
A loan made from Smooth Accounting Ltd to JATE Productions Ltd of £2,739.91 (FY2023: £5,998.19)
A loan made from Smooth Accounting Ltd to Smooth Accounting & Consultancy International FZCO of £22,055.80 (FY2023: £41,491.39)
A loan made from Smooth Accounting Ltd to Smooth AI Ltd of £36.87 (FY2023: £nil)
The above loans are unsecured, interest free and repayable on demand. 
Page 6