Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06259589 A McElhinney T Prickett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06259589 2023-03-31 06259589 2024-03-31 06259589 2023-04-01 2024-03-31 06259589 frs-core:CurrentFinancialInstruments 2024-03-31 06259589 frs-core:Non-currentFinancialInstruments 2024-03-31 06259589 frs-core:ComputerEquipment 2024-03-31 06259589 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06259589 frs-core:ComputerEquipment 2023-03-31 06259589 frs-core:FurnitureFittings 2024-03-31 06259589 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06259589 frs-core:FurnitureFittings 2023-03-31 06259589 frs-core:MotorVehicles 2024-03-31 06259589 frs-core:MotorVehicles 2023-04-01 2024-03-31 06259589 frs-core:MotorVehicles 2023-03-31 06259589 frs-core:PlantMachinery 2024-03-31 06259589 frs-core:PlantMachinery 2023-04-01 2024-03-31 06259589 frs-core:PlantMachinery 2023-03-31 06259589 frs-core:ShareCapital 2024-03-31 06259589 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06259589 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06259589 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06259589 frs-bus:SmallEntities 2023-04-01 2024-03-31 06259589 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06259589 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06259589 frs-bus:Director1 2023-04-01 2024-03-31 06259589 frs-bus:Director2 2023-04-01 2024-03-31 06259589 frs-countries:EnglandWales 2023-04-01 2024-03-31 06259589 2022-03-31 06259589 2023-03-31 06259589 2022-04-01 2023-03-31 06259589 frs-core:CurrentFinancialInstruments 2023-03-31 06259589 frs-core:Non-currentFinancialInstruments 2023-03-31 06259589 frs-core:BetweenOneFiveYears 2023-03-31 06259589 frs-core:WithinOneYear 2023-03-31 06259589 frs-core:ShareCapital 2023-03-31 06259589 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06259589
Kygo Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06259589
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,240 72,088
9,240 72,088
CURRENT ASSETS
Debtors 5 31 74,943
Cash at bank and in hand 160,486 50,533
160,517 125,476
Creditors: Amounts Falling Due Within One Year 6 (32,982 ) (84,210 )
NET CURRENT ASSETS (LIABILITIES) 127,535 41,266
TOTAL ASSETS LESS CURRENT LIABILITIES 136,775 113,354
Creditors: Amounts Falling Due After More Than One Year 7 (11,667 ) (26,499 )
NET ASSETS 125,108 86,855
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 125,098 86,845
SHAREHOLDERS' FUNDS 125,108 86,855
Page 1
Page 2
For the year ending 31 March 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
T Prickett
Director
19/02/2025
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
Kygo Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06259589 . The registered office is 32 Byron Hill Road , Harrow On The Hill, Middx, HA2 0HY.
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:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.4. 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.
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.
...CONTINUED
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Page 4
2.5. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 26,189 103,852 4,700 250 134,991
Additions - 7,750 - - 7,750
Disposals (26,189 ) (90,144 ) (4,700 ) (250 ) (121,283 )
As at 31 March 2024 - 21,458 - - 21,458
Depreciation
As at 1 April 2023 20,387 37,566 4,700 250 62,903
Provided during the period - 5,364 - - 5,364
Disposals (20,387 ) (30,712 ) (4,700 ) (250 ) (56,049 )
As at 31 March 2024 - 12,218 - - 12,218
Net Book Value
As at 31 March 2024 - 9,240 - - 9,240
As at 1 April 2023 5,802 66,286 - - 72,088
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 31 48,703
Other debtors - 26,240
31 74,943
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,513
Trade creditors 313 17,384
Bank loans and overdrafts 10,000 10,000
Other creditors 2,416 24,579
Taxation and social security 20,253 25,734
32,982 84,210
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 4,832
Bank loans 11,667 21,667
11,667 26,499
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 6,513
Later than one year and not later than five years - 4,832
- 11,345
- 11,345
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 5