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 09634153 Ms Berry Cochrane true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09634153 2023-06-30 09634153 2024-06-30 09634153 2023-07-01 2024-06-30 09634153 frs-core:CurrentFinancialInstruments 2024-06-30 09634153 frs-core:ComputerEquipment 2024-06-30 09634153 frs-core:ComputerEquipment 2023-07-01 2024-06-30 09634153 frs-core:ComputerEquipment 2023-06-30 09634153 frs-core:FurnitureFittings 2024-06-30 09634153 frs-core:FurnitureFittings 2023-07-01 2024-06-30 09634153 frs-core:FurnitureFittings 2023-06-30 09634153 frs-core:ShareCapital 2024-06-30 09634153 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09634153 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09634153 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09634153 frs-bus:SmallEntities 2023-07-01 2024-06-30 09634153 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09634153 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09634153 1 2023-07-01 2024-06-30 09634153 frs-bus:Director1 2023-07-01 2024-06-30 09634153 frs-countries:EnglandWales 2023-07-01 2024-06-30 09634153 2022-06-30 09634153 2023-06-30 09634153 2022-07-01 2023-06-30 09634153 frs-core:CurrentFinancialInstruments 2023-06-30 09634153 frs-core:ShareCapital 2023-06-30 09634153 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 09634153
Forward Action Ltd.
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: 09634153
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,938 14,410
13,938 14,410
CURRENT ASSETS
Debtors 5 313,865 310,904
Cash at bank and in hand 500,853 492,115
814,718 803,019
Creditors: Amounts Falling Due Within One Year 6 (348,688 ) (372,877 )
NET CURRENT ASSETS (LIABILITIES) 466,030 430,142
TOTAL ASSETS LESS CURRENT LIABILITIES 479,968 444,552
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,484 ) (3,602 )
NET ASSETS 476,484 440,950
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 476,483 440,949
SHAREHOLDERS' FUNDS 476,484 440,950
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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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Berry Cochrane
Director
19/03/2025
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
Forward Action Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 09634153 . The registered office is C/O Realise Finance Ltd, Gloucester House, 23a London Road, Peterborough, PE2 8AN.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.4. 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: 22 (2023: 22)
22 22
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 8,494 25,982 34,476
Additions 184 6,268 6,452
As at 30 June 2024 8,678 32,250 40,928
Depreciation
As at 1 July 2023 5,519 14,547 20,066
Provided during the period 1,192 5,732 6,924
As at 30 June 2024 6,711 20,279 26,990
Net Book Value
As at 30 June 2024 1,967 11,971 13,938
As at 1 July 2023 2,975 11,435 14,410
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 224,755 223,348
Prepayments and accrued income 81,010 79,266
Other debtors 8,100 8,290
313,865 310,904
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,091 5,697
Corporation tax 70,305 73,695
Other taxes and social security 29,024 28,434
VAT 57,899 107,351
Other creditors 5,389 58
Accruals and deferred income 167,980 157,642
348,688 372,877
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Pension Commitments
The company operates a defined contribution pension scheme for the benefit of its' employees.Contributions payable are recognised in the profit and loss account when due.
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9. Ultimate Controlling Party
At the year end the company is controlled by the directors of Forward Action Trustees Ltd acting as trustee of the Forward Action Employee Trust.
10. Employee Ownership Trust
On 1st November 2022 the Forward Action Employee Ownership Trust was established, with Forward Action Trustees Limited as sole trustee of the said trust.
On 1st November 2022 120 Ordinary shares of £0.01 each, the entire share capital of the company, was transferred to Forward Action Trustees Limited as trustee of the Forward Action Employee Ownership Trust
During the year £174,673 (2023 £445,514) was gifted to the Trust
Forward Action Ltd. expects to make future gifts to the Trust on a monthly and annual basis in accordance with the terms of the Share Purchase Agreement dated 1st November 2022.
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