Acorah Software Products - Accounts Production 16.1.300 false true true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 NI624908 Mr Mark Allen Mr Darren Gaynor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI624908 2023-05-31 NI624908 2024-05-31 NI624908 2023-06-01 2024-05-31 NI624908 frs-core:ComputerEquipment 2023-06-01 2024-05-31 NI624908 frs-core:PlantMachinery 2023-06-01 2024-05-31 NI624908 frs-core:OtherReservesSubtotal 2024-05-31 NI624908 frs-core:ShareCapital 2024-05-31 NI624908 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI624908 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI624908 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 NI624908 frs-bus:SmallEntities 2023-06-01 2024-05-31 NI624908 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI624908 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI624908 frs-bus:Director1 2023-06-01 2024-05-31 NI624908 frs-bus:Director2 2023-06-01 2024-05-31 NI624908 frs-countries:NorthernIreland 2023-06-01 2024-05-31 NI624908 2022-05-31 NI624908 2023-05-31 NI624908 2022-06-01 2023-05-31 NI624908 frs-core:OtherReservesSubtotal 2023-05-31 NI624908 frs-core:ShareCapital 2023-05-31 NI624908 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: NI624908
Asgard Financial Services Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
DNTCA Ltd
Chartered Accountants
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Statement of Financial Position
Registered number: NI624908
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,111 1,782
1,111 1,782
CURRENT ASSETS
Debtors 1,102,202 2,028,689
Cash at bank and in hand 194,699 294,897
1,296,901 2,323,586
Creditors: Amounts Falling Due Within One Year (320,516 ) (1,482,323 )
NET CURRENT ASSETS (LIABILITIES) 976,385 841,263
TOTAL ASSETS LESS CURRENT LIABILITIES 977,496 843,045
NET ASSETS 977,496 843,045
CAPITAL AND RESERVES
Called up share capital 5 1 1
Other reserves 7,608,654 6,624,608
Income Statement (6,631,159 ) (5,781,564 )
SHAREHOLDERS' FUNDS 977,496 843,045
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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 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 Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Darren Gaynor
Director
27 February 2025
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
Asgard Financial Services Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI624908 . The registered office is Ormeau House, 91 - 97 Ormeau Road, Belfast, Antrim, BT7 1SH.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. 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.
2.4. 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:
Plant & Machinery 33% Straight Line
Computer Equipment 33% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Total
£
Cost
As at 1 June 2023 30,057
As at 31 May 2024 30,057
...CONTINUED
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Depreciation
As at 1 June 2023 28,275
Provided during the period 671
As at 31 May 2024 28,946
Net Book Value
As at 31 May 2024 1,111
As at 1 June 2023 1,782
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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