Acorah Software Products - Accounts Production 16.1.300 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 07515710 I N Lacey I Cairns D M Somerset J W Cole R G King iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07515710 2023-06-30 07515710 2024-06-30 07515710 2023-07-01 2024-06-30 07515710 frs-core:CurrentFinancialInstruments 2024-06-30 07515710 frs-core:Non-currentFinancialInstruments 2024-06-30 07515710 frs-core:ComputerEquipment 2024-06-30 07515710 frs-core:ComputerEquipment 2023-07-01 2024-06-30 07515710 frs-core:ComputerEquipment 2023-06-30 07515710 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 07515710 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-01 2024-06-30 07515710 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 07515710 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 07515710 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 07515710 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 07515710 frs-core:SharePremium 2024-06-30 07515710 frs-core:ShareCapital 2024-06-30 07515710 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 07515710 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07515710 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 07515710 frs-bus:SmallEntities 2023-07-01 2024-06-30 07515710 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07515710 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07515710 frs-bus:OrdinaryShareClass2 2023-07-01 2024-06-30 07515710 frs-bus:OrdinaryShareClass2 2024-06-30 07515710 frs-bus:OrdinaryShareClass3 2023-07-01 2024-06-30 07515710 frs-bus:OrdinaryShareClass3 2024-06-30 07515710 frs-bus:Director1 2023-07-01 2024-06-30 07515710 frs-bus:Director2 2023-07-01 2024-06-30 07515710 frs-bus:Director3 2023-07-01 2024-06-30 07515710 frs-bus:Director4 2023-07-01 2024-06-30 07515710 frs-bus:Director5 2023-07-01 2024-06-30 07515710 frs-countries:EnglandWales 2023-07-01 2024-06-30 07515710 2022-06-30 07515710 2023-06-30 07515710 2022-07-01 2023-06-30 07515710 frs-core:CurrentFinancialInstruments 2023-06-30 07515710 frs-core:Non-currentFinancialInstruments 2023-06-30 07515710 frs-core:SharePremium 2023-06-30 07515710 frs-core:ShareCapital 2023-06-30 07515710 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 07515710 frs-bus:OrdinaryShareClass2 2022-07-01 2023-06-30 07515710 frs-bus:OrdinaryShareClass3 2022-07-01 2023-06-30
Beit Software Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07515710
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,987 8,727
Tangible Assets 5 3,223 3,785
8,210 12,512
CURRENT ASSETS
Debtors 6 353 316
Cash at bank and in hand 9,488 18,794
9,841 19,110
Creditors: Amounts Falling Due Within One Year 7 (48,088 ) (41,790 )
NET CURRENT ASSETS (LIABILITIES) (38,247 ) (22,680 )
TOTAL ASSETS LESS CURRENT LIABILITIES (30,037 ) (10,168 )
Creditors: Amounts Falling Due After More Than One Year 8 (37,426 ) (32,840 )
NET LIABILITIES (67,463 ) (43,008 )
CAPITAL AND RESERVES
Called up share capital 10 4,950 4,950
Share premium account 2,250 2,250
Profit and Loss Account (74,663 ) (50,208 )
SHAREHOLDERS' FUNDS (67,463) (43,008)
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
I N Lacey
Director
25 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Beit Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07515710 . The registered office is C/O BWBCA Limited Office 44, A30 Business Centre, Okehampton, Devon, EX20 1BG.
The presentation currency of the financial statements is the Pound Sterling (£).
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. Going Concern Disclosure
The company has net liabilities at the year end. Included within creditors due less than one year includes £48,080 owed to directors and connected companies and creditors due after more than one year is a debenture of £37,426 owed to a director. The directors have confirmed that they will not withdraw their support to the company in detriment to third party creditors and will ensure that the company can meet its liabilities as they fall due. Accordingly the accounts have been prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Research and Development
Software development costs are capitalised within intangible assets where they can be identified with a specific product and are anticipated to provide future economical benefits. These costs are amortised over the estimated useful economic life of 5 years.
2.5. Intangible Fixed Assets and Amortisation - Intellectual Property
Inrellectual property is capitalised at cost and amortised over its estimated useful economic life 5 years.
2.6. 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:
Computer Equipment 33% on Cost
2.7. Financial Instruments
Debt instruments, other than those wholly repayable within one year, are initially measured at transaction price including transaction costs and subsequently at amortised cost using the effective interest rate method.
2.8. 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.
2.9. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. Average Number of Employees
Average number of employees during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Intangible Assets
Development Costs Intellectual Property Total
£ £ £
Cost
As at 1 July 2023 18,700 3,500 22,200
As at 30 June 2024 18,700 3,500 22,200
Amortisation
As at 1 July 2023 9,973 3,500 13,473
Provided during the period 3,740 - 3,740
As at 30 June 2024 13,713 3,500 17,213
Net Book Value
As at 30 June 2024 4,987 - 4,987
As at 1 July 2023 8,727 - 8,727
5. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 6,817
Additions 1,174
As at 30 June 2024 7,991
Depreciation
As at 1 July 2023 3,032
Provided during the period 1,736
As at 30 June 2024 4,768
Net Book Value
As at 30 June 2024 3,223
As at 1 July 2023 3,785
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 353 316
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8 2,576
Other creditors 48,080 39,214
48,088 41,790
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Debentures 37,426 32,840
9. Secured Creditors
Secured creditors comprises a debenture loan which is secured by a first charge over up to 20% of the company's revenue and a floating charge over all the assets of the company.
The following secured debts are included within creditors falling due after more than one year:
2024 2023
£ £
Other Creditors 37,426 32,840
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
105,000 Ordinary A shares of £ 0.01 each 1,050 1,050
390,000 Ordinary B shares of £ 0.01 each 3,900 3,900
4,950 4,950
11. Related Party Transactions
At the balance sheet date a total of £33,654 (2023: £28,401) was owed to the directors. The loans are interest free and repayable on demand, but will not be repaid in detriment to third party creditors.
A director has a debenture loan with the company, which accrues interest at the Bank of England base rate plus 8%. The balance at the balance sheet date was £37,426 (2023: £32,840). The loan repayments are based on a fixed percentage of sales income.
Page 5