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 NI670257 Mrs Cindy-Kim Picolo Mr Robert Picolo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI670257 2023-06-30 NI670257 2024-06-30 NI670257 2023-07-01 2024-06-30 NI670257 frs-core:CurrentFinancialInstruments 2024-06-30 NI670257 frs-core:Non-currentFinancialInstruments 2024-06-30 NI670257 frs-core:BetweenOneFiveYears 2024-06-30 NI670257 frs-core:ComputerEquipment 2024-06-30 NI670257 frs-core:ComputerEquipment 2023-07-01 2024-06-30 NI670257 frs-core:ComputerEquipment 2023-06-30 NI670257 frs-core:FurnitureFittings 2023-07-01 2024-06-30 NI670257 frs-core:MotorVehicles 2023-07-01 2024-06-30 NI670257 frs-core:PlantMachinery 2024-06-30 NI670257 frs-core:PlantMachinery 2023-07-01 2024-06-30 NI670257 frs-core:PlantMachinery 2023-06-30 NI670257 frs-core:WithinOneYear 2024-06-30 NI670257 frs-core:ShareCapital 2024-06-30 NI670257 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI670257 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI670257 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 NI670257 frs-bus:SmallEntities 2023-07-01 2024-06-30 NI670257 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 NI670257 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI670257 frs-bus:Director1 2023-07-01 2024-06-30 NI670257 frs-bus:Director2 2023-07-01 2024-06-30 NI670257 frs-core:CurrentFinancialInstruments 1 2024-06-30 NI670257 frs-countries:NorthernIreland 2023-07-01 2024-06-30 NI670257 2022-06-30 NI670257 2023-06-30 NI670257 2022-07-01 2023-06-30 NI670257 frs-core:CurrentFinancialInstruments 2023-06-30 NI670257 frs-core:Non-currentFinancialInstruments 2023-06-30 NI670257 frs-core:BetweenOneFiveYears 2023-06-30 NI670257 frs-core:WithinOneYear 2023-06-30 NI670257 frs-core:ShareCapital 2023-06-30 NI670257 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI670257 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: NI670257
Affordable Valued Solutions 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: NI670257
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,099 33,619
28,099 33,619
CURRENT ASSETS
Stocks 5 39,063 43,028
Debtors 6 119,118 114,285
Cash at bank and in hand 2,948 822
161,129 158,135
Creditors: Amounts Falling Due Within One Year 7 (159,596 ) (142,345 )
NET CURRENT ASSETS (LIABILITIES) 1,533 15,790
TOTAL ASSETS LESS CURRENT LIABILITIES 29,632 49,409
Creditors: Amounts Falling Due After More Than One Year 8 (15,251 ) (24,111 )
NET ASSETS 14,381 25,298
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 14,281 25,198
SHAREHOLDERS' FUNDS 14,381 25,298
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 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 Robert Picolo
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
Affordable Valued Solutions Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI670257 . The registered office is 146 High Street, Holywood, Co Down, BT18 9HS.
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:
Plant & Machinery 25%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 25%
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.
Page 3
Page 4
2.5. 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.
2.6. 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.
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: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 41,969 3,324 45,293
As at 30 June 2024 41,969 3,324 45,293
Depreciation
As at 1 July 2023 10,388 1,286 11,674
Provided during the period 4,917 603 5,520
As at 30 June 2024 15,305 1,889 17,194
...CONTINUED
Page 4
Page 5
Net Book Value
As at 30 June 2024 26,664 1,435 28,099
As at 1 July 2023 31,581 2,038 33,619
5. Stocks
2024 2023
£ £
Finished goods 39,063 43,028
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 118,668 113,835
Other debtors 450 450
119,118 114,285
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,885 6,885
Trade creditors 92,213 91,456
Bank loans and overdrafts 1,327 -
Corporation tax 14,770 1,317
Other taxes and social security 9,908 7,407
VAT 19,305 12,863
Other creditors 11,888 11,043
Pensions Payable 2,350 284
Directors' loan accounts 950 11,090
159,596 142,345
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,251 24,111
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,885 6,885
Later than one year and not later than five years 15,251 24,111
22,136 30,996
22,136 30,996
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6