Acorah Software Products - Accounts Production 16.1.300 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 09817890 Mr L Kowalski iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09817890 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-10-31 09817890 2023-10-31 09817890 2024-10-31 09817890 2023-11-01 2024-10-31 09817890 frs-core:CurrentFinancialInstruments 2024-10-31 09817890 frs-core:Non-currentFinancialInstruments 2024-10-31 09817890 frs-core:BetweenOneFiveYears 2024-10-31 09817890 frs-core:ComputerEquipment 2024-10-31 09817890 frs-core:ComputerEquipment 2023-11-01 2024-10-31 09817890 frs-core:ComputerEquipment 2023-10-31 09817890 frs-core:MotorVehicles 2024-10-31 09817890 frs-core:MotorVehicles 2023-11-01 2024-10-31 09817890 frs-core:MotorVehicles 2023-10-31 09817890 frs-core:WithinOneYear 2024-10-31 09817890 frs-core:ShareCapital 2024-10-31 09817890 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 09817890 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09817890 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 09817890 frs-bus:SmallEntities 2023-11-01 2024-10-31 09817890 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 09817890 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09817890 frs-bus:Director1 2023-11-01 2024-10-31 09817890 frs-bus:Director1 2023-10-31 09817890 frs-bus:Director1 2024-10-31 09817890 frs-countries:EnglandWales 2023-11-01 2024-10-31 09817890 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-10-31 09817890 2022-10-31 09817890 2023-10-31 09817890 2022-11-01 2023-10-31 09817890 frs-core:CurrentFinancialInstruments 2023-10-31 09817890 frs-core:Non-currentFinancialInstruments 2023-10-31 09817890 frs-core:BetweenOneFiveYears 2023-10-31 09817890 frs-core:WithinOneYear 2023-10-31 09817890 frs-core:ShareCapital 2023-10-31 09817890 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 09817890
Finance Simplified Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09817890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,607 23,326
51,607 23,326
CURRENT ASSETS
Debtors 5 259,917 106,633
Cash at bank and in hand 13,930 47,810
273,847 154,443
Creditors: Amounts Falling Due Within One Year 6 (83,027 ) (74,210 )
NET CURRENT ASSETS (LIABILITIES) 190,820 80,233
TOTAL ASSETS LESS CURRENT LIABILITIES 242,427 103,559
Creditors: Amounts Falling Due After More Than One Year 7 (78,364 ) (38,244 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,902 ) -
NET ASSETS 151,161 65,315
CAPITAL AND RESERVES
Called up share capital 10 20 20
Profit and Loss Account 151,141 65,295
SHAREHOLDERS' FUNDS 151,161 65,315
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Page 2
For the year ending 31 October 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 L Kowalski
Director
6th March 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
Finance Simplified Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09817890 . The registered office is 7 The Highlands, Old Barry Road, Penarth, CF64 2AR.
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:
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Straight Line
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. Financial Instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the new amounts presented in the financial statements, when there is a legally enforcement right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equirt instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.6. 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.
2.7. 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.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 November 2023 24,070 9,587 33,657
Additions 45,600 - 45,600
Disposals (12,100 ) - (12,100 )
As at 31 October 2024 57,570 9,587 67,157
Depreciation
As at 1 November 2023 4,814 5,517 10,331
Provided during the period 8,130 1,445 9,575
Disposals (4,356 ) - (4,356 )
As at 31 October 2024 8,588 6,962 15,550
Net Book Value
As at 31 October 2024 48,982 2,625 51,607
As at 1 November 2023 19,256 4,070 23,326
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 324 -
Other debtors 259,593 106,633
259,917 106,633
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,085 -
Trade creditors 24 -
Bank loans and overdrafts 9,294 6,186
Amounts owed to participating interests 1,000 -
Other creditors 2,862 396
Taxation and social security 65,762 67,628
83,027 74,210
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 30,154 -
Bank loans 48,210 38,244
78,364 38,244
Of the creditors falling due after more than one year the following amounts are due after more than five years.
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2024 2023
£ £
Bank loans 4,303 8,952
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured. The obligations under finance leases and hire purchase contracts are secured against the asseets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,238 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,085 -
Later than one year and not later than five years 30,154 -
34,239 -
34,239 -
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Lukasz Kowalski 79,889 217,261 (99,622 ) - 197,528
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
At the year end an amount of £1,000 was owed to RLK Design Ltd which is a company under common ownership. The amount is unsecured, interest free and repayable on demand.
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