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 07118941 Mr Steve Cunningham Mrs Anne Cunningham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07118941 2023-05-31 07118941 2024-05-31 07118941 2023-06-01 2024-05-31 07118941 frs-core:CurrentFinancialInstruments 2024-05-31 07118941 frs-core:ComputerEquipment 2024-05-31 07118941 frs-core:ComputerEquipment 2023-06-01 2024-05-31 07118941 frs-core:ComputerEquipment 2023-05-31 07118941 frs-core:FurnitureFittings 2024-05-31 07118941 frs-core:FurnitureFittings 2023-06-01 2024-05-31 07118941 frs-core:FurnitureFittings 2023-05-31 07118941 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 07118941 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07118941 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 07118941 frs-core:MotorVehicles 2024-05-31 07118941 frs-core:MotorVehicles 2023-06-01 2024-05-31 07118941 frs-core:MotorVehicles 2023-05-31 07118941 frs-core:PlantMachinery 2024-05-31 07118941 frs-core:PlantMachinery 2023-06-01 2024-05-31 07118941 frs-core:PlantMachinery 2023-05-31 07118941 frs-core:ShareCapital 2024-05-31 07118941 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07118941 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07118941 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07118941 frs-bus:SmallEntities 2023-06-01 2024-05-31 07118941 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07118941 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07118941 frs-bus:Director1 2023-06-01 2024-05-31 07118941 frs-bus:CompanySecretary1 2023-06-01 2024-05-31 07118941 frs-core:CurrentFinancialInstruments 1 2024-05-31 07118941 frs-countries:EnglandWales 2023-06-01 2024-05-31 07118941 2022-05-31 07118941 2023-05-31 07118941 2022-06-01 2023-05-31 07118941 frs-core:CurrentFinancialInstruments 2023-05-31 07118941 frs-core:ShareCapital 2023-05-31 07118941 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 07118941 frs-core:CurrentFinancialInstruments 1 2023-05-31
Registered number: 07118941
20-20 Events Management Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07118941
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 576,353 570,767
576,353 570,767
CURRENT ASSETS
Debtors 5 1,152,937 1,406,662
Investments 6 1,052,500 2,500
Cash at bank and in hand 186,694 822,181
2,392,131 2,231,343
Creditors: Amounts Falling Due Within One Year 7 (190,779 ) (364,815 )
NET CURRENT ASSETS (LIABILITIES) 2,201,352 1,866,528
TOTAL ASSETS LESS CURRENT LIABILITIES 2,777,705 2,437,295
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,535 ) -
NET ASSETS 2,765,170 2,437,295
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 2,764,970 2,437,095
SHAREHOLDERS' FUNDS 2,765,170 2,437,295
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 his 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 Steve Cunningham
Director
26/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
20-20 Events Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07118941 . The registered office is 4 Warple Mews, Warple Way, London, W3 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. 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 N/A
Plant & Machinery 10% RBM
Motor Vehicles 20% RBM
Fixtures & Fittings 15% RBM
Computer Equipment 15% RBM
2.4. 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.
2.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 495,763 28,974 64,023 55,588
Additions - - 16,349 445
As at 31 May 2024 495,763 28,974 80,372 56,033
Depreciation
As at 1 June 2023 - 12,425 48,293 34,758
Provided during the period - 1,655 6,416 3,191
As at 31 May 2024 - 14,080 54,709 37,949
Net Book Value
As at 31 May 2024 495,763 14,894 25,663 18,084
As at 1 June 2023 495,763 16,549 15,730 20,830
Computer Equipment Total
£ £
Cost
As at 1 June 2023 61,664 706,012
Additions 3,927 20,721
As at 31 May 2024 65,591 726,733
Depreciation
As at 1 June 2023 39,769 135,245
Provided during the period 3,873 15,135
As at 31 May 2024 43,642 150,380
Net Book Value
As at 31 May 2024 21,949 576,353
As at 1 June 2023 21,895 570,767
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,374 217,904
Prepayments and accrued income 6,120 16,886
Other debtors 1,129,443 1,171,872
1,152,937 1,406,662
Page 4
Page 5
6. Current Asset Investments
2024 2023
£ £
Unlisted investments 1,052,500 2,500
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,389 183,125
Corporation tax 129,546 122,582
Other taxes and social security 3,764 3,776
VAT 30,916 49,533
Pension Fund 943 877
Credit Card 5,673 (3,004 )
Accruals and deferred income 9,295 7,645
Director's loan account 253 281
190,779 364,815
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
9. Related Party Transactions
At the balance sheet date the amount due to 20-20 Events Management was £1,129,443.12 (2023: £1,171,872.14). Interest is payable at the average rate of 1.75% per anum above the base rate of the Bank of England as varied from time to time.
Page 5