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 05487065 Mr A Martorana Mrs C M Martorana Mrs C M Martorana true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05487065 2023-06-30 05487065 2024-06-30 05487065 2023-07-01 2024-06-30 05487065 frs-core:CurrentFinancialInstruments 2024-06-30 05487065 frs-core:ComputerEquipment 2024-06-30 05487065 frs-core:ComputerEquipment 2023-07-01 2024-06-30 05487065 frs-core:ComputerEquipment 2023-06-30 05487065 frs-core:FurnitureFittings 2024-06-30 05487065 frs-core:FurnitureFittings 2023-07-01 2024-06-30 05487065 frs-core:FurnitureFittings 2023-06-30 05487065 frs-core:CapitalRedemptionReserve 2024-06-30 05487065 frs-core:ShareCapital 2024-06-30 05487065 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05487065 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05487065 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05487065 frs-bus:SmallEntities 2023-07-01 2024-06-30 05487065 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05487065 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05487065 1 2023-07-01 2024-06-30 05487065 frs-bus:Director1 2023-07-01 2024-06-30 05487065 frs-bus:Director2 2023-07-01 2024-06-30 05487065 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 05487065 frs-countries:EnglandWales 2023-07-01 2024-06-30 05487065 2022-06-30 05487065 2023-06-30 05487065 2022-07-01 2023-06-30 05487065 frs-core:CurrentFinancialInstruments 2023-06-30 05487065 frs-core:CapitalRedemptionReserve 2023-06-30 05487065 frs-core:ShareCapital 2023-06-30 05487065 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05487065
Brand Passion Ltd
Financial Statements
For The Year Ended 30 June 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05487065
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,143 -
1,143 -
CURRENT ASSETS
Stocks 5 8,280 12,207
Debtors 6 2,885 11,439
Cash at bank and in hand 23,167 11,124
34,332 34,770
Creditors: Amounts Falling Due Within One Year 7 (28,238 ) (34,025 )
NET CURRENT ASSETS (LIABILITIES) 6,094 745
TOTAL ASSETS LESS CURRENT LIABILITIES 7,237 745
NET ASSETS 7,237 745
CAPITAL AND RESERVES
Called up share capital 8 100 100
Capital redemption reserve 50 50
Profit and Loss Account 7,087 595
SHAREHOLDERS' FUNDS 7,237 745
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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 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 A Martorana
Director
Mrs C M Martorana
Director
13 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
Brand Passion Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05487065 . The registered office is Quarry Lodge, Stone Quarry Road, Chelwood Gate, East Sussex, RH17 7LS.
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.
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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. 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.
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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.
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.
2.7. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 784 5,142 5,926
Additions - 1,524 1,524
As at 30 June 2024 784 6,666 7,450
Depreciation
As at 1 July 2023 784 5,142 5,926
Provided during the period - 381 381
As at 30 June 2024 784 5,523 6,307
Net Book Value
As at 30 June 2024 - 1,143 1,143
As at 1 July 2023 - - -
5. Stocks
2024 2023
£ £
Stock 8,280 12,207
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,885 11,439
2,885 11,439
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 396 599
Other creditors 19,176 25,221
Taxation and social security 8,666 8,205
28,238 34,025
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Included in other creditors due within one year is a loan from the directors, Mr A Martorana and Mrs C M Martorana amounting to £(17,332) (2023 - £(23,378)).
10. Controlling Parties
The Company was controlled throughout the current and previous period by its directors, Mr A Martorana
and Mrs C M Martorana, by virtue of the fact that they own the majority of the Company's ordinary issued
share capital.
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