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Registered number: 14272492
Northern Company Services Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14272492
31 December 2024 31 December 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 39,362 44,310
Cash at bank and in hand 21,814 37,652
61,176 81,962
Creditors: Amounts Falling Due Within One Year 5 (28,602 ) (40,818 )
NET CURRENT ASSETS (LIABILITIES) 32,574 41,144
TOTAL ASSETS LESS CURRENT LIABILITIES 32,574 41,144
NET ASSETS 32,574 41,144
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 32,564 41,134
SHAREHOLDERS' FUNDS 32,574 41,144
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For the year ending 31 December 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
Mr W L Margot
Director
17/02/2025
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
Northern Company Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14272492 . The registered office is The Liverpool Film Studios, 105 Boundary Street, Liverpool, Merseyside, L5 9YJ.
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
After reviewing the company’s forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis of accounting in preparing its financial statements.
2.3. 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.
2.4. Financial Instruments
a)  Financial assets
Basic financial assets, including trade and other receivables, amounts due from related parties and cash and cash equivalents, are initially recognised at transaction price, unless the arrangement constitutes a financing arrangement, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the statement of comprehensive income.
Other financial assets, including investments held as current assets, are initially measured at fair value, which is normally the transaction price.  Such assets are subsequently carried at fair value and the changes in fair value are recognised in the statement of comprehensive income.
Financial assets are derecognised when (i) the contractual rights to the cash flows from the asset expire or are settled, or (ii) substantially all the risks and rewards of ownership of the asset are transferred to another party or (iii) despite having retained some significant risk and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
b)  Financial liabilities
Basic financial liabilities, including other creditors, bank loans and amounts due to group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when the liability is extinguished, which is when the contractual obligation is discharged, cancelled or expires. " 
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Debtors
31 December 2024 31 December 2023
£ £
Due within one year
Trade debtors 38,440 44,300
Prepayments and accrued income 800 -
Other debtors 122 10
39,362 44,310
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5. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
£ £
Trade creditors 655 1,255
Corporation tax 13,172 19,577
VAT 11,525 11,276
Accruals and deferred income 3,250 8,710
28,602 40,818
6. Share Capital
31 December 2024 31 December 2023
£ £
Allotted, Called up and fully paid 10 10
7. Reporting period
The financial statements have been prepared for the year ended 31 December 2024.  The comparative figures are presented for the period from incorporation on 3 August 2022 to 31 December 2023.
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