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Registered number: 03946649
Ashley Medical Communications Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Elco Accounting Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 03946649
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 17,206 20,577
17,206 20,577
CURRENT ASSETS
Debtors 6 786,780 529,978
Cash at bank and in hand 2,053,752 1,600,099
2,840,532 2,130,077
Creditors: Amounts Falling Due Within One Year 7 (1,031,526 ) (1,091,522 )
NET CURRENT ASSETS (LIABILITIES) 1,809,006 1,038,555
TOTAL ASSETS LESS CURRENT LIABILITIES 1,826,212 1,059,132
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,105 ) (5,529 )
NET ASSETS 1,822,107 1,053,603
CAPITAL AND RESERVES
Called up share capital 310 310
Share premium account 36,592 36,592
Capital redemption reserve 310 310
Other reserves 13,495 8,997
Profit and Loss Account 1,771,400 1,007,394
SHAREHOLDERS' FUNDS 1,822,107 1,053,603
Page 1
Page 2
For the year ending 31 July 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
Mrs H M Economides
Director
04/04/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Capital Redemption Other reserves
£ £ £ £
As at 1 August 2022 310 36,592 310 -
Profit for the year and total comprehensive income - - - -
Dividends paid - - - -
Movements in other reserves - - - 8,997
As at 31 July 2023 310 36,592 310 8,997
As at 1 August 2023 as previously stated 310 36,592 310 8,997
Prior year adjustment - - - -
As at 1 August 2023 as restated 310 36,592 310 8,997
1,007,394
Profit for the year and total comprehensive income - - - -
Dividends paid - - - -
Movements in other reserves - - - 4,498
As at 31 July 2024 310 36,592 310 13,495
Profit and Loss Account Total
£ £
As at 1 August 2022 704,342 741,554
Profit for the year and total comprehensive income 575,052 575,052
Dividends paid (272,000) (272,000)
Movements in other reserves - 8,997
As at 31 July 2023 1,007,394 1,053,603
As at 1 August 2023 as previously stated 1,016,391 1,062,600
Prior year adjustment (8,997 ) (8,997 )
As at 1 August 2023 as restated 1,007,394 1,053,603
1,007,394
Profit for the year and total comprehensive income 986,006 986,006
Dividends paid (222,000) (222,000)
Movements in other reserves - 4,498
As at 31 July 2024 1,771,400 1,822,107
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Ashley Medical Communications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03946649 . The registered office is c/o Elco Accounting, 24 Church Street, Rickmansworth, Hertfordshire, WD3 1DD.

The presentational 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. Turnover
Turnover represents net invoices, excluding value added tax, for public relations consultancy fees.
Turnover is recognised as goods and services are supplied. Turnover arises solely in the United Kingdom
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. Goodwill has been amortised fully.
2.4. 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 25% on cost
Computer Equipment 25% on cost
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realised the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
...CONTINUED
Page 4
Page 5
2.5. Financial Instruments - continued
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
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.
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. Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value
2.9. Equity settled share-based payments
Share options were awarded to key employees in respect of the Company’s shares in 2022, the fair value of the options is determined at the date of grant and charged to profit or loss over the vesting period. The credit entry is recorded in a share-based payments reserve within equity. Fair value cannot be easily obtained and therefore is based upon the agreed value with HMRC. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of Financial Position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest.
In total 13,927 share options were granted with a vesting period of 10 years. None have been granted, exercised or expired during this period. An expense of £4,498 has been recognised in the profit and loss account this period. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 13)
15 13
Page 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 20,000
As at 31 July 2024 20,000
Amortisation
As at 1 August 2023 20,000
As at 31 July 2024 20,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 August 2023 60,441
Additions 2,972
Disposals (14,724 )
As at 31 July 2024 48,689
Depreciation
As at 1 August 2023 39,864
Provided during the period 6,185
Disposals (14,566 )
As at 31 July 2024 31,483
Net Book Value
As at 31 July 2024 17,206
As at 1 August 2023 20,577
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 550,954 361,684
Other debtors 235,826 168,294
786,780 529,978
Page 6
Page 7
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 124,273 84,746
Other creditors 409,512 730,783
Taxation and social security 497,741 275,993
1,031,526 1,091,522
Page 7