Acorah Software Products - Accounts Production 16.1.300 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 07790724 Mr Adam Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07790724 2023-09-30 07790724 2024-09-30 07790724 2023-10-01 2024-09-30 07790724 frs-core:CurrentFinancialInstruments 2024-09-30 07790724 frs-core:Non-currentFinancialInstruments 2024-09-30 07790724 frs-core:BetweenOneFiveYears 2024-09-30 07790724 frs-core:NetGoodwill 2024-09-30 07790724 frs-core:NetGoodwill 2023-10-01 2024-09-30 07790724 frs-core:NetGoodwill 2023-09-30 07790724 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 07790724 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 07790724 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 07790724 frs-core:MotorVehicles 2024-09-30 07790724 frs-core:MotorVehicles 2023-10-01 2024-09-30 07790724 frs-core:MotorVehicles 2023-09-30 07790724 frs-core:PlantMachinery 2024-09-30 07790724 frs-core:PlantMachinery 2023-10-01 2024-09-30 07790724 frs-core:PlantMachinery 2023-09-30 07790724 frs-core:WithinOneYear 2024-09-30 07790724 frs-core:ShareCapital 2024-09-30 07790724 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 07790724 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07790724 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 07790724 frs-bus:SmallEntities 2023-10-01 2024-09-30 07790724 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07790724 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07790724 frs-bus:Director1 2023-10-01 2024-09-30 07790724 frs-countries:EnglandWales 2023-10-01 2024-09-30 07790724 2022-09-30 07790724 2023-09-30 07790724 2022-10-01 2023-09-30 07790724 frs-core:CurrentFinancialInstruments 2023-09-30 07790724 frs-core:Non-currentFinancialInstruments 2023-09-30 07790724 frs-core:BetweenOneFiveYears 2023-09-30 07790724 frs-core:WithinOneYear 2023-09-30 07790724 frs-core:ShareCapital 2023-09-30 07790724 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 07790724
Taste of Freedom Ltd
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07790724
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 654,216 461,719
654,216 461,719
CURRENT ASSETS
Stocks 6 - 51,454
Debtors 7 87,025 2,470
Cash at bank and in hand 55,695 103,769
142,720 157,693
Creditors: Amounts Falling Due Within One Year 8 (223,723 ) (185,857 )
NET CURRENT ASSETS (LIABILITIES) (81,003 ) (28,164 )
TOTAL ASSETS LESS CURRENT LIABILITIES 573,213 433,555
Creditors: Amounts Falling Due After More Than One Year 9 (99,760 ) (67,792 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (74,900 )
NET ASSETS 473,453 290,863
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 473,353 290,763
SHAREHOLDERS' FUNDS 473,453 290,863
Page 1
Page 2
For the year ending 30 September 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 Adam Brown
Director
4th 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
Taste of Freedom Ltd , registered number 07790724 is a limited by shares company incorporated in England & Wales. The Registered Office is 17 Moat House Square Avenue E East, Thorp Arch Estate, Wetherby, LS23 7FB.
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 five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 5% - Straight Line
Plant & Machinery 25% - Reducing Balance
Motor Vehicles 2% - Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts are capitalised as tangible fixed assets and are depreciated over their useful lives.
2.6. 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.
Page 3
Page 4
2.7. 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.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 asset reflects 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: 1 (2023: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 10,000
As at 30 September 2024 10,000
Amortisation
As at 1 October 2023 10,000
As at 30 September 2024 10,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
Page 4
Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2023 7,880 9,841 504,710 522,431
Additions - 4,485 356,322 360,807
Disposals - (3,731 ) (174,649 ) (178,380 )
As at 30 September 2024 7,880 10,595 686,383 704,858
Depreciation
As at 1 October 2023 447 4,078 56,187 60,712
Provided during the period 394 1,644 12,662 14,700
Disposals - (1,808 ) (22,962 ) (24,770 )
As at 30 September 2024 841 3,914 45,887 50,642
Net Book Value
As at 30 September 2024 7,039 6,681 640,496 654,216
As at 1 October 2023 7,433 5,763 448,523 461,719
6. Stocks
2024 2023
£ £
Stock - 51,454
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 830 -
Other debtors 86,195 2,470
87,025 2,470
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 44,706 27,450
Trade creditors 42,217 29,624
Bank loans and overdrafts 8,000 8,000
Other loans - 19,635
Amounts owed to participating interests 37,942 -
Other creditors 73,437 84,598
Taxation and social security 17,421 16,550
223,723 185,857
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 89,138 49,154
Bank loans 10,622 18,638
99,760 67,792
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 44,706 27,450
Later than one year and not later than five years 89,138 49,154
133,844 76,604
133,844 76,604
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6