Acorah Software Products - Accounts Production 16.2.850 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 09166165 Mr Paul Johnson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09166165 2023-08-31 09166165 2024-08-31 09166165 2023-09-01 2024-08-31 09166165 frs-core:CurrentFinancialInstruments 2024-08-31 09166165 frs-core:Non-currentFinancialInstruments 2024-08-31 09166165 frs-core:BetweenOneFiveYears 2024-08-31 09166165 frs-core:ComputerEquipment 2024-08-31 09166165 frs-core:ComputerEquipment 2023-09-01 2024-08-31 09166165 frs-core:ComputerEquipment 2023-08-31 09166165 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-08-31 09166165 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 09166165 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-31 09166165 frs-core:FurnitureFittings 2024-08-31 09166165 frs-core:FurnitureFittings 2023-09-01 2024-08-31 09166165 frs-core:FurnitureFittings 2023-08-31 09166165 frs-core:MotorVehicles 2024-08-31 09166165 frs-core:MotorVehicles 2023-09-01 2024-08-31 09166165 frs-core:MotorVehicles 2023-08-31 09166165 frs-core:WithinOneYear 2024-08-31 09166165 frs-core:ShareCapital 2024-08-31 09166165 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 09166165 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09166165 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 09166165 frs-bus:SmallEntities 2023-09-01 2024-08-31 09166165 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09166165 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09166165 frs-bus:Director1 2023-09-01 2024-08-31 09166165 frs-countries:EnglandWales 2023-09-01 2024-08-31 09166165 2022-08-31 09166165 2023-08-31 09166165 2022-09-01 2023-08-31 09166165 frs-core:CurrentFinancialInstruments 2023-08-31 09166165 frs-core:Non-currentFinancialInstruments 2023-08-31 09166165 frs-core:BetweenOneFiveYears 2023-08-31 09166165 frs-core:WithinOneYear 2023-08-31 09166165 frs-core:ShareCapital 2023-08-31 09166165 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 09166165
OLK Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 09166165
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 19,755 23,347
Tangible Assets 5 54,273 67,127
74,028 90,474
CURRENT ASSETS
Stocks 181,248 113,012
Debtors 6 201,045 307,443
Cash at bank and in hand 17,326 16,093
399,619 436,548
Creditors: Amounts Falling Due Within One Year 7 (396,539 ) (356,743 )
NET CURRENT ASSETS (LIABILITIES) 3,080 79,805
TOTAL ASSETS LESS CURRENT LIABILITIES 77,108 170,279
Creditors: Amounts Falling Due After More Than One Year 8 (64,409 ) (163,521 )
NET ASSETS 12,699 6,758
CAPITAL AND RESERVES
Called up share capital 11 100 100
Income Statement 12,599 6,658
SHAREHOLDERS' FUNDS 12,699 6,758
Page 1
Page 2
For the year ending 31 August 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 his 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 Income Statement.
On behalf of the board
Mr Paul Johnson
Director
31 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
OLK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09166165 . The registered office is Unit 2, The Galary, Concept Court, Rotherham, South Yorkshire, S63 5BD.
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
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are a FiveCRM system. It is amortised to income statement over its estimated economic life of 10 years.
2.5. 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 20% on reducing balance
Fixtures & Fittings 10% on reducing balance
Computer Equipment 33% on cost
2.6. 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 income statement 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 income statement as incurred.
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 year 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.
...CONTINUED
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2.7. Taxation - continued
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 asset reflects 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: 21 (2023: 32)
21 32
4. Intangible Assets
Development Costs
£
Cost
As at 1 September 2023 35,918
As at 31 August 2024 35,918
Amortisation
As at 1 September 2023 12,571
Impairment losses 3,592
As at 31 August 2024 16,163
Net Book Value
As at 31 August 2024 19,755
As at 1 September 2023 23,347
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 45,273 58,479 21,352 125,104
Additions - 321 1,866 2,187
As at 31 August 2024 45,273 58,800 23,218 127,291
Depreciation
As at 1 September 2023 17,916 24,620 15,441 57,977
Provided during the period 5,472 3,406 6,163 15,041
As at 31 August 2024 23,388 28,026 21,604 73,018
Net Book Value
As at 31 August 2024 21,885 30,774 1,614 54,273
As at 1 September 2023 27,357 33,859 5,911 67,127
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 170,622 273,640
Other debtors 30,423 33,803
201,045 307,443
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,665 4,398
Trade creditors 192,901 166,933
Bank loans and overdrafts 117,041 112,250
Other creditors 6,354 19,172
Taxation and social security 76,578 53,990
396,539 356,743
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,665
Bank loans 56,671 142,612
Other creditors 7,738 17,244
64,409 163,521
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,242 8,063
Bank loans and overdrafts 13,114 177,466
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,665 4,398
Later than one year and not later than five years - 3,665
3,665 8,063
3,665 8,063
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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Page 6
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 65,410 65,410
Later than one year and not later than five years 130,820 196,230
196,230 261,640
Page 6