Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 02331080 Mr Charles Hicks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02331080 2023-12-31 02331080 2024-12-31 02331080 2024-01-01 2024-12-31 02331080 frs-core:CurrentFinancialInstruments 2024-12-31 02331080 frs-core:Non-currentFinancialInstruments 2024-12-31 02331080 frs-core:ComputerEquipment 2024-12-31 02331080 frs-core:ComputerEquipment 2024-01-01 2024-12-31 02331080 frs-core:ComputerEquipment 2023-12-31 02331080 frs-core:FurnitureFittings 2024-12-31 02331080 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02331080 frs-core:FurnitureFittings 2023-12-31 02331080 frs-core:ShareCapital 2024-12-31 02331080 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02331080 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02331080 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02331080 frs-bus:SmallEntities 2024-01-01 2024-12-31 02331080 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02331080 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02331080 frs-core:CostValuation 2023-12-31 02331080 frs-core:CostValuation 2024-12-31 02331080 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 02331080 frs-core:ProvisionsForImpairmentInvestments 2024-12-31 02331080 frs-bus:Director1 2024-01-01 2024-12-31 02331080 frs-countries:EnglandWales 2024-01-01 2024-12-31 02331080 2022-12-31 02331080 2023-12-31 02331080 2023-01-01 2023-12-31 02331080 frs-core:CurrentFinancialInstruments 2023-12-31 02331080 frs-core:Non-currentFinancialInstruments 2023-12-31 02331080 frs-core:ShareCapital 2023-12-31 02331080 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02331080
E.I.C. Insurance Services Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02331080
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,540 10,551
Investments 5 859 859
13,399 11,410
CURRENT ASSETS
Debtors 6 211,187 127,110
Cash at bank and in hand 286,808 280,242
497,995 407,352
Creditors: Amounts Falling Due Within One Year 7 (451,331 ) (390,522 )
NET CURRENT ASSETS (LIABILITIES) 46,664 16,830
TOTAL ASSETS LESS CURRENT LIABILITIES 60,063 28,240
Creditors: Amounts Falling Due After More Than One Year 8 (32,088 ) (38,838 )
NET ASSETS/(LIABILITIES) 27,975 (10,598 )
CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Profit and Loss Account 22,975 (15,598 )
SHAREHOLDERS' FUNDS 27,975 (10,598)
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For the year ending 31 December 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 Profit and Loss Account.
On behalf of the board
Mr Charles Hicks
Director
13/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
E.I.C. Insurance Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 02331080 . The registered office is Unit 1b Tring Business Estate, Upper Icknield Way, Tring, Hertfordshire, HP23 4JX.
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:
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 12,047 16,523 28,570
Additions - 5,100 5,100
As at 31 December 2024 12,047 21,623 33,670
Depreciation
As at 1 January 2024 7,897 10,122 18,019
Provided during the period 973 2,138 3,111
As at 31 December 2024 8,870 12,260 21,130
Net Book Value
As at 31 December 2024 3,177 9,363 12,540
As at 1 January 2024 4,150 6,401 10,551
5. Investments
Other
£
Cost
As at 1 January 2024 859
As at 31 December 2024 859
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 859
As at 1 January 2024 859
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 136,995 120,124
Other debtors 74,192 6,986
211,187 127,110
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 303,838 297,886
Bank loans and overdrafts 6,720 6,720
Amounts owed to group undertakings 654 654
Other creditors 36,718 36,046
Taxation and social security 103,401 49,216
451,331 390,522
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 32,088 38,838
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
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