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Registered number: 10953563
Critical Path Project Consultants Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Inchmead Accountants
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10953563
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 141,280 139,099
141,280 139,099
CURRENT ASSETS
Investments 5 113,557 -
Cash at bank and in hand 307,360 72,783
420,917 72,783
Creditors: Amounts Falling Due Within One Year 6 (178,792 ) (85,972 )
NET CURRENT ASSETS (LIABILITIES) 242,125 (13,189 )
TOTAL ASSETS LESS CURRENT LIABILITIES 383,405 125,910
Creditors: Amounts Falling Due After More Than One Year 7 (27,209 ) -
NET ASSETS 356,196 125,910
CAPITAL AND RESERVES
Called up share capital 8 200 100
Profit and Loss Account 355,996 125,810
SHAREHOLDERS' FUNDS 356,196 125,910
Page 1
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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 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 Robert Nicholls
Director
7 March 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
Critical Path Project Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10953563 . The registered office is Inchmead Suite , 100 Berkshire Place, Winnersh , Wokingham, RG41 5RD.
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 25% stright line
Motor Vehicles 20% stright line
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 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.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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 Total
£ £ £
Cost
As at 1 January 2024 95,882 73,825 169,707
Additions 749 60,266 61,015
Disposals - (25,619 ) (25,619 )
As at 31 December 2024 96,631 108,472 205,103
Depreciation
As at 1 January 2024 10,143 20,465 30,608
Provided during the period 22,344 22,975 45,319
Disposals - (12,104 ) (12,104 )
As at 31 December 2024 32,487 31,336 63,823
Net Book Value
As at 31 December 2024 64,144 77,136 141,280
As at 1 January 2024 85,739 53,360 139,099
5. Current Asset Investments
2024 2023
£ £
Unlisted investments 113,557 -
113,557 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Corporation tax 83,596 11,935
VAT 26,499 31,796
Net wages - 1,889
Accruals and deferred income - 20,000
Director's loan account 68,698 20,353
178,792 85,972
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 27,209 -
27,209 -
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
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