Acorah Software Products - Accounts Production 16.2.850 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 11444819 Mr Mark Benfield Mrs Nicola Benfield Mr Craig Benfield Mr Ryan Benfield iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11444819 2023-07-31 11444819 2024-07-31 11444819 2023-08-01 2024-07-31 11444819 frs-core:CurrentFinancialInstruments 2024-07-31 11444819 frs-core:Non-currentFinancialInstruments 2024-07-31 11444819 frs-core:BetweenOneFiveYears 2024-07-31 11444819 frs-core:ComputerEquipment 2024-07-31 11444819 frs-core:ComputerEquipment 2023-08-01 2024-07-31 11444819 frs-core:ComputerEquipment 2023-07-31 11444819 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-07-31 11444819 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 11444819 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 11444819 frs-core:MotorVehicles 2024-07-31 11444819 frs-core:MotorVehicles 2023-08-01 2024-07-31 11444819 frs-core:MotorVehicles 2023-07-31 11444819 frs-core:PlantMachinery 2024-07-31 11444819 frs-core:PlantMachinery 2023-08-01 2024-07-31 11444819 frs-core:PlantMachinery 2023-07-31 11444819 frs-core:WithinOneYear 2024-07-31 11444819 frs-core:ShareCapital 2024-07-31 11444819 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 11444819 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11444819 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 11444819 frs-bus:SmallEntities 2023-08-01 2024-07-31 11444819 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 11444819 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11444819 frs-bus:Director1 2023-08-01 2024-07-31 11444819 frs-bus:Director2 2023-08-01 2024-07-31 11444819 frs-bus:Director3 2023-08-01 2024-07-31 11444819 frs-bus:Director4 2023-08-01 2024-07-31 11444819 frs-countries:EnglandWales 2023-08-01 2024-07-31 11444819 2022-07-31 11444819 2023-07-31 11444819 2022-08-01 2023-07-31 11444819 frs-core:CurrentFinancialInstruments 2023-07-31 11444819 frs-core:Non-currentFinancialInstruments 2023-07-31 11444819 frs-core:BetweenOneFiveYears 2023-07-31 11444819 frs-core:WithinOneYear 2023-07-31 11444819 frs-core:ShareCapital 2023-07-31 11444819 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 11444819
Novusmet Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
VJH Accountancy Ltd
Chartered Accountants
The Zinc Building
Ventura Park, Broadshires Way
Carterton
Oxfordshire
OX18 1AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11444819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 228,322 244,166
228,322 244,166
CURRENT ASSETS
Debtors 5 94,705 2,189
Cash at bank and in hand 472,638 7,958
567,343 10,147
Creditors: Amounts Falling Due Within One Year 6 (352,996 ) (57,633 )
NET CURRENT ASSETS (LIABILITIES) 214,347 (47,486 )
TOTAL ASSETS LESS CURRENT LIABILITIES 442,669 196,680
Creditors: Amounts Falling Due After More Than One Year 7 (38,682 ) (49,569 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,844 ) -
NET ASSETS 388,143 147,111
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 388,139 147,107
SHAREHOLDERS' FUNDS 388,143 147,111
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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
Mr Mark Benfield
Director
26 March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Novusmet Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11444819 . The registered office is The Zinc Building Ventura Park, Broadshires Way, Carterton, Oxfordshire, OX18 1AD.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Freehold No policy
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 20% Reducing Balance
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. 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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2.6. 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: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 164,946 292 80,023 603 245,864
As at 31 July 2024 164,946 292 80,023 603 245,864
Depreciation
As at 1 August 2023 - 58 1,519 121 1,698
Provided during the period - 47 15,701 96 15,844
As at 31 July 2024 - 105 17,220 217 17,542
Net Book Value
As at 31 July 2024 164,946 187 62,803 386 228,322
As at 1 August 2023 164,946 234 78,504 482 244,166
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,705 -
Other debtors - 2,189
94,705 2,189
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,887 9,318
Trade creditors 105,773 (1 )
Other creditors 3,701 10,525
Taxation and social security 232,635 37,791
352,996 57,633
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 38,682 49,569
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,887 9,318
Later than one year and not later than five years 38,682 49,569
49,569 58,887
49,569 58,887
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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