Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 8535810 R Tarhuni iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 8535810 2023-05-31 8535810 2024-05-31 8535810 2023-06-01 2024-05-31 8535810 frs-core:CurrentFinancialInstruments 2024-05-31 8535810 frs-core:Non-currentFinancialInstruments 2024-05-31 8535810 frs-core:ComputerEquipment 2024-05-31 8535810 frs-core:ComputerEquipment 2023-06-01 2024-05-31 8535810 frs-core:ComputerEquipment 2023-05-31 8535810 frs-core:MotorVehicles 2024-05-31 8535810 frs-core:MotorVehicles 2023-06-01 2024-05-31 8535810 frs-core:MotorVehicles 2023-05-31 8535810 frs-core:ShareCapital 2024-05-31 8535810 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 8535810 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 8535810 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 8535810 frs-bus:SmallEntities 2023-06-01 2024-05-31 8535810 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 8535810 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 8535810 frs-bus:Director1 2023-06-01 2024-05-31 8535810 frs-bus:Director1 2023-05-31 8535810 frs-bus:Director1 2024-05-31 8535810 frs-countries:EnglandWales 2023-06-01 2024-05-31 8535810 2022-05-31 8535810 2023-05-31 8535810 2022-06-01 2023-05-31 8535810 frs-core:CurrentFinancialInstruments 2023-05-31 8535810 frs-core:Non-currentFinancialInstruments 2023-05-31 8535810 frs-core:ShareCapital 2023-05-31 8535810 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 8535810
A Better Choice (ABC) Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
TaxAssist Direct London Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8535810
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 142,480 72,518
142,480 72,518
CURRENT ASSETS
Debtors 5 94,450 100,189
Cash at bank and in hand 18,718 63,447
113,168 163,636
Creditors: Amounts Falling Due Within One Year 6 (144,709 ) (94,453 )
NET CURRENT ASSETS (LIABILITIES) (31,541 ) 69,183
TOTAL ASSETS LESS CURRENT LIABILITIES 110,939 141,701
Creditors: Amounts Falling Due After More Than One Year 7 (75,779 ) (59,043 )
NET ASSETS 35,160 82,658
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 35,060 82,558
SHAREHOLDERS' FUNDS 35,160 82,658
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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 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
R Tarhuni
Director
13/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
A Better Choice (ABC) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8535810 . The registered office is 1 Cornhill, London, EC3V 3ND.
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.
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:
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 2)
9 2
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 96,500 2,044 98,544
Additions 87,954 2,629 90,583
As at 31 May 2024 184,454 4,673 189,127
Depreciation
As at 1 June 2023 25,078 948 26,026
Provided during the period 20,126 495 20,621
As at 31 May 2024 45,204 1,443 46,647
Net Book Value
As at 31 May 2024 139,250 3,230 142,480
As at 1 June 2023 71,422 1,096 72,518
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 92,374 87,142
Other debtors 2,076 13,047
94,450 100,189
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,017 29,859
Trade creditors 36,023 9,001
Bank loans and overdrafts 10,000 10,000
Other creditors 25,604 14,696
Taxation and social security 15,065 30,897
144,709 94,453
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 57,446 30,710
Bank loans 18,333 28,333
75,779 59,043
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 115,463 60,612
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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
£ £ £ £ £
Ms Ranya Tarhuni 11,583 - 11,583 - -
The above loan is unsecured, interest free and repayable on demand.
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