Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 07270779 Mr D M Kosifou Mr K P Gabriel Mr M O Sennett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07270779 2023-12-31 07270779 2024-12-31 07270779 2024-01-01 2024-12-31 07270779 frs-core:CurrentFinancialInstruments 2024-12-31 07270779 frs-core:Non-currentFinancialInstruments 2024-12-31 07270779 frs-core:BetweenOneFiveYears 2024-12-31 07270779 frs-core:ComputerEquipment 2024-12-31 07270779 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07270779 frs-core:ComputerEquipment 2023-12-31 07270779 frs-core:FurnitureFittings 2024-12-31 07270779 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07270779 frs-core:FurnitureFittings 2023-12-31 07270779 frs-core:NetGoodwill 2024-12-31 07270779 frs-core:NetGoodwill 2024-01-01 2024-12-31 07270779 frs-core:NetGoodwill 2023-12-31 07270779 frs-core:MotorVehicles 2024-12-31 07270779 frs-core:MotorVehicles 2024-01-01 2024-12-31 07270779 frs-core:MotorVehicles 2023-12-31 07270779 frs-core:WithinOneYear 2024-12-31 07270779 frs-core:ShareCapital 2024-12-31 07270779 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07270779 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07270779 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07270779 frs-bus:SmallEntities 2024-01-01 2024-12-31 07270779 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07270779 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07270779 frs-bus:Director1 2024-01-01 2024-12-31 07270779 frs-bus:Director2 2024-01-01 2024-12-31 07270779 frs-bus:Director3 2024-01-01 2024-12-31 07270779 frs-countries:EnglandWales 2024-01-01 2024-12-31 07270779 2022-12-31 07270779 2023-12-31 07270779 2023-01-01 2023-12-31 07270779 frs-core:CurrentFinancialInstruments 2023-12-31 07270779 frs-core:Non-currentFinancialInstruments 2023-12-31 07270779 frs-core:BetweenOneFiveYears 2023-12-31 07270779 frs-core:WithinOneYear 2023-12-31 07270779 frs-core:ShareCapital 2023-12-31 07270779 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 07270779
Western Business Media Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07270779
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 279,074 351,226
Tangible Assets 5 34,282 46,788
313,356 398,014
CURRENT ASSETS
Debtors 6 890,710 1,002,865
Cash at bank and in hand 114,031 162,213
1,004,741 1,165,078
Creditors: Amounts Falling Due Within One Year 7 (587,262 ) (605,605 )
NET CURRENT ASSETS (LIABILITIES) 417,479 559,473
TOTAL ASSETS LESS CURRENT LIABILITIES 730,835 957,487
Creditors: Amounts Falling Due After More Than One Year 8 (26,367 ) (118,694 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,580 ) (2,579 )
NET ASSETS 701,888 836,214
CAPITAL AND RESERVES
Called up share capital 10 330,104 330,104
Profit and Loss Account 371,784 506,110
SHAREHOLDERS' FUNDS 701,888 836,214
Page 1
Page 2
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 M O Sennett
Director
6 March 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Western Business Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07270779 . The registered office is Dorset House, 64 High Street, East Grinstead, West Sussex, RH19 3DE.
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 .... 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings Over 8 years
Computer Equipment 25% Straight Line
Page 3
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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. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 23)
29 23
Page 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 871,908
As at 31 December 2024 871,908
Amortisation
As at 1 January 2024 520,682
Provided during the period 72,152
As at 31 December 2024 592,834
Net Book Value
As at 31 December 2024 279,074
As at 1 January 2024 351,226
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 44,450 95,975 8,838 149,263
Additions - - 358 358
As at 31 December 2024 44,450 95,975 9,196 149,621
Depreciation
As at 1 January 2024 6,482 92,663 3,330 102,475
Provided during the period 9,492 1,163 2,209 12,864
As at 31 December 2024 15,974 93,826 5,539 115,339
Net Book Value
As at 31 December 2024 28,476 2,149 3,657 34,282
As at 1 January 2024 37,968 3,312 5,508 46,788
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 375,032 436,992
Other debtors 84,578 117,052
459,610 554,044
Due after more than one year
Amounts owed by group undertakings 431,100 448,821
890,710 1,002,865
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,613 6,613
Trade creditors 192,341 143,325
Bank loans and overdrafts 85,893 64,286
Other creditors 152,969 245,886
Taxation and social security 149,446 145,495
587,262 605,605
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 26,367 32,980
Bank loans - 85,714
26,367 118,694
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,613 6,613
Later than one year and not later than five years 26,367 32,980
32,980 39,593
32,980 39,593
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 330,104 330,104
Page 7