Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05143307 Mr Mark Freeman iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05143307 2023-06-30 05143307 2024-06-30 05143307 2023-07-01 2024-06-30 05143307 frs-core:CurrentFinancialInstruments 2024-06-30 05143307 frs-core:Non-currentFinancialInstruments 2024-06-30 05143307 frs-core:BetweenOneFiveYears 2024-06-30 05143307 frs-core:ComputerEquipment 2024-06-30 05143307 frs-core:ComputerEquipment 2023-07-01 2024-06-30 05143307 frs-core:ComputerEquipment 2023-06-30 05143307 frs-core:NetGoodwill 2024-06-30 05143307 frs-core:NetGoodwill 2023-07-01 2024-06-30 05143307 frs-core:NetGoodwill 2023-06-30 05143307 frs-core:MotorVehicles 2024-06-30 05143307 frs-core:MotorVehicles 2023-07-01 2024-06-30 05143307 frs-core:MotorVehicles 2023-06-30 05143307 frs-core:PlantMachinery 2024-06-30 05143307 frs-core:PlantMachinery 2023-07-01 2024-06-30 05143307 frs-core:PlantMachinery 2023-06-30 05143307 frs-core:WithinOneYear 2024-06-30 05143307 frs-core:ShareCapital 2024-06-30 05143307 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05143307 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05143307 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05143307 frs-bus:SmallEntities 2023-07-01 2024-06-30 05143307 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05143307 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05143307 frs-core:UnlistedNon-exchangeTraded 2024-06-30 05143307 frs-core:UnlistedNon-exchangeTraded 2023-06-30 05143307 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-06-30 05143307 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 05143307 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 05143307 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-06-30 05143307 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-06-30 05143307 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-06-30 05143307 frs-bus:Director1 2023-07-01 2024-06-30 05143307 frs-bus:Director1 2023-06-30 05143307 frs-bus:Director1 2024-06-30 05143307 frs-countries:EnglandWales 2023-07-01 2024-06-30 05143307 2022-06-30 05143307 2023-06-30 05143307 2022-07-01 2023-06-30 05143307 frs-core:CurrentFinancialInstruments 2023-06-30 05143307 frs-core:Non-currentFinancialInstruments 2023-06-30 05143307 frs-core:BetweenOneFiveYears 2023-06-30 05143307 frs-core:WithinOneYear 2023-06-30 05143307 frs-core:ShareCapital 2023-06-30 05143307 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 05143307 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: 05143307
Mark Freeman Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05143307
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 120,481 70,252
Investments 6 651,999 -
772,480 70,252
CURRENT ASSETS
Debtors 7 941,701 899,944
Cash at bank and in hand 218,418 903,838
1,160,119 1,803,782
Creditors: Amounts Falling Due Within One Year 8 (135,411 ) (152,999 )
NET CURRENT ASSETS (LIABILITIES) 1,024,708 1,650,783
TOTAL ASSETS LESS CURRENT LIABILITIES 1,797,188 1,721,035
Creditors: Amounts Falling Due After More Than One Year 9 (37,419 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,892 ) (13,348 )
NET ASSETS 1,736,877 1,707,687
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 1,736,777 1,707,587
SHAREHOLDERS' FUNDS 1,736,877 1,707,687
Page 1
Page 2
For the year ending 30 June 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 Mark Freeman
Director
12/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mark Freeman Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05143307 . The registered office is Sme House, Holme Lacy Industrial Estate, Hereford, England, HR2 6DR.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 15% SLM
Motor Vehicles 25% RBM
Computer Equipment 33.33% SLM
2.5. 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.
2.6. 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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2.6. 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: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 247,578
As at 30 June 2024 247,578
Amortisation
As at 1 July 2023 247,578
As at 30 June 2024 247,578
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 179,539 82,336 10,389 272,264
Additions 395 106,968 - 107,363
Disposals - (37,900 ) - (37,900 )
As at 30 June 2024 179,934 151,404 10,389 341,727
Depreciation
As at 1 July 2023 124,228 68,127 9,657 202,012
Provided during the period 12,356 6,478 400 19,234
As at 30 June 2024 136,584 74,605 10,057 221,246
Net Book Value
As at 30 June 2024 43,350 76,799 332 120,481
As at 1 July 2023 55,311 14,209 732 70,252
Page 4
Page 5
6. Investments
Unlisted
£
Cost
As at 1 July 2023 -
Additions 701,999
Disposals (50,000 )
As at 30 June 2024 651,999
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 651,999
As at 1 July 2023 -
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 54,807 157,858
Prepayments and accrued income 160,265 90,086
RL Devlopments Limited loan 652,000 652,000
Director's loan account 74,629 -
941,701 899,944
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,947 8,181
Trade creditors 68,550 74,634
Corporation tax 19,695 56,881
Other taxes and social security 1,681 2,979
VAT 22,538 8,703
Credit card - 179
Accruals and deferred income - 623
Director's loan account - 819
135,411 152,999
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 37,419 -
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,947 8,181
Later than one year and not later than five years 37,419 -
60,366 8,181
60,366 8,181
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Mark Freeman - 74,629 - - 74,629
The above loan is unsecured, repayable on demand and interest is charged at the HMRC official rate of interest.
13. Related Party Transactions
Included within Debtors is a loan totalling £652,000 (2023: £622,000) to RL Development Ltd, a company of which the Director of Mark Freeman Ltd is also a Director and Shareholder of.
This loan is without interest and repayable on demand.
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