Acorah Software Products - Accounts Production 16.2.800 false true 30 November 2023 1 December 2022 false 1 December 2023 30 November 2024 30 November 2024 09864868 D J Mercer C Peat E Sampson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09864868 2023-11-30 09864868 2024-11-30 09864868 2023-12-01 2024-11-30 09864868 frs-core:CurrentFinancialInstruments 2024-11-30 09864868 frs-core:ComputerEquipment 2024-11-30 09864868 frs-core:ComputerEquipment 2023-12-01 2024-11-30 09864868 frs-core:ComputerEquipment 2023-11-30 09864868 frs-core:MotorVehicles 2024-11-30 09864868 frs-core:MotorVehicles 2023-12-01 2024-11-30 09864868 frs-core:MotorVehicles 2023-11-30 09864868 frs-core:WithinOneYear 2024-11-30 09864868 frs-core:ShareCapital 2024-11-30 09864868 frs-core:RetainedEarningsAccumulatedLosses 2024-11-30 09864868 frs-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 09864868 frs-bus:FilletedAccounts 2023-12-01 2024-11-30 09864868 frs-bus:SmallEntities 2023-12-01 2024-11-30 09864868 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 09864868 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 09864868 frs-core:CostValuation 2023-11-30 09864868 frs-core:CostValuation 2024-11-30 09864868 frs-core:ProvisionsForImpairmentInvestments 2023-11-30 09864868 frs-core:ProvisionsForImpairmentInvestments 2024-11-30 09864868 frs-bus:Director1 2023-12-01 2024-11-30 09864868 frs-bus:Director2 2023-12-01 2024-11-30 09864868 frs-bus:Director3 2023-12-01 2024-11-30 09864868 frs-countries:EnglandWales 2023-12-01 2024-11-30 09864868 2022-11-30 09864868 2023-11-30 09864868 2022-12-01 2023-11-30 09864868 frs-core:CurrentFinancialInstruments 2023-11-30 09864868 frs-core:WithinOneYear 2023-11-30 09864868 frs-core:ShareCapital 2023-11-30 09864868 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30
Registered number: 09864868
Definition Ip Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 09864868
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,878 5,316
Investments 5 89 89
3,967 5,405
CURRENT ASSETS
Debtors 6 389,820 325,386
Cash at bank and in hand 347,581 244,897
737,401 570,283
Creditors: Amounts Falling Due Within One Year 7 (284,623 ) (227,518 )
NET CURRENT ASSETS (LIABILITIES) 452,778 342,765
TOTAL ASSETS LESS CURRENT LIABILITIES 456,745 348,170
NET ASSETS 456,745 348,170
CAPITAL AND RESERVES
Called up share capital 300 300
Profit and Loss Account 456,445 347,870
SHAREHOLDERS' FUNDS 456,745 348,170
For the year ending 30 November 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
C Peat
Director
24/03/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Definition Ip Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09864868 . The registered office is The Core Bath Lane, Newcastle Helix, Newcastle Upon Tyne, NE4 5TF.
Restatement of Comparatives
The company's average employee numbers have been restated from 10 to 9.
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.
Functional and Presentational Currency
The company's functional and presentational currency is GBP.
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 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:
Motor Vehicles 25% straight line
Computer Equipment 33% straight line
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.
2.5. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value with changes recognised in profit or loss.  Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
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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 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Investments
Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.  The investmetns are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.  A subsidiary is an entity controlled by the company.  Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.  An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence.  The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.  Entities in which the company has a long term interest and shares control under a contractural arrangement are classified as jointly controlled entities.
2.10. Cash and Cash Equivalants
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
2.11. Share Capital
Ordinary shares are classified as equity.  Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.  If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 1,521 11,598 13,119
Additions - 1,498 1,498
As at 30 November 2024 1,521 13,096 14,617
Depreciation
As at 1 December 2023 95 7,708 7,803
Provided during the period 380 2,556 2,936
As at 30 November 2024 475 10,264 10,739
Net Book Value
As at 30 November 2024 1,046 2,832 3,878
As at 1 December 2023 1,426 3,890 5,316
5. Investments
Subsidiaries
£
Cost
As at 1 December 2023 89
As at 30 November 2024 89
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 89
As at 1 December 2023 89
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 377,961 318,450
Prepayments and accrued income 11,420 6,497
Other debtors 439 439
389,820 325,386
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 85,034 74,033
Corporation tax 61,018 73,706
Other taxes and social security 9,756 6,831
VAT 73,980 52,606
Other creditors 26,986 5,660
Accruals and deferred income 25,944 10,184
Directors' loan accounts 1,905 1,535
Amounts owed to subsidiaries - 2,963
284,623 227,518
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 6,580 3,952
6,580 3,952
9. Pension Commitments
The company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £10,152 (2023: £5,660) were due to the fund. They are included in other creditors.
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