Acorah Software Products - Accounts Production 16.2.850 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 13267152 Mr K Humphrey Mr M Cairns Ms E Danby Mrs J Humphrey Mr K Humphrey iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13267152 2023-09-30 13267152 2024-09-30 13267152 2023-10-01 2024-09-30 13267152 frs-core:Non-currentFinancialInstruments 2024-09-30 13267152 frs-core:BetweenOneFiveYears 2024-09-30 13267152 frs-core:ComputerEquipment 2023-10-01 2024-09-30 13267152 frs-core:FurnitureFittings 2023-10-01 2024-09-30 13267152 frs-core:NetGoodwill 2023-10-01 2024-09-30 13267152 frs-core:WithinOneYear 2024-09-30 13267152 frs-core:SharePremium 2024-09-30 13267152 frs-core:ShareCapital 2024-09-30 13267152 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 13267152 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13267152 frs-bus:AbridgedAccounts 2023-10-01 2024-09-30 13267152 frs-bus:SmallEntities 2023-10-01 2024-09-30 13267152 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 13267152 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13267152 frs-core:CostValuation 2023-09-30 13267152 frs-core:CostValuation 2024-09-30 13267152 frs-core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2024-09-30 13267152 frs-core:ProvisionsForImpairmentInvestments 2024-09-30 13267152 frs-bus:Director1 2023-10-01 2024-09-30 13267152 frs-bus:Director2 2023-10-01 2024-09-30 13267152 frs-bus:Director3 2023-10-01 2024-09-30 13267152 frs-bus:Director4 2023-10-01 2024-09-30 13267152 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 13267152 frs-countries:EnglandWales 2023-10-01 2024-09-30 13267152 2022-09-30 13267152 2023-09-30 13267152 2022-10-01 2023-09-30 13267152 frs-core:Non-currentFinancialInstruments 2023-09-30 13267152 frs-core:BetweenOneFiveYears 2023-09-30 13267152 frs-core:WithinOneYear 2023-09-30 13267152 frs-core:SharePremium 2023-09-30 13267152 frs-core:ShareCapital 2023-09-30 13267152 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 13267152
PFP Wealth Group Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 13267152
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,087,346 645,501
Tangible Assets 5 54,723 23,514
Investments 6 1,662,556 1,870,375
2,804,625 2,539,390
CURRENT ASSETS
Debtors 371,766 259,433
Cash at bank and in hand 195,333 248,466
567,099 507,899
Creditors: Amounts Falling Due Within One Year (339,088 ) (452,198 )
NET CURRENT ASSETS (LIABILITIES) 228,011 55,701
TOTAL ASSETS LESS CURRENT LIABILITIES 3,032,636 2,595,091
Creditors: Amounts Falling Due After More Than One Year (2,187,199 ) (1,781,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,681 ) (6,097 )
NET ASSETS 831,756 807,358
CAPITAL AND RESERVES
Called up share capital 7 242 242
Share premium account 149,978 149,978
Profit and Loss Account 681,536 657,138
SHAREHOLDERS' FUNDS 831,756 807,358
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For the year ending 30 September 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 September 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr K Humphrey
Director
22/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
PFP Wealth Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13267152 . The registered office is Unit 8 Paragon Business Park, Red Hall Court, Wakefield, West Yorkshire, WF1 2UY.
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 on the rendering of services on the basis of commissions receivable.
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. It is amortised to profit and loss account over its estimated economic life of 10 years.
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 20% Straight line
Computer Equipment 25% Straight line
2.5. 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: 23 (2023: 17)
23 17
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4. Intangible Assets
Total
£
Cost
As at 1 October 2023 937,612
Additions 550,334
As at 30 September 2024 1,487,946
Amortisation
As at 1 October 2023 292,111
Provided during the period 108,489
As at 30 September 2024 400,600
Net Book Value
As at 30 September 2024 1,087,346
As at 1 October 2023 645,501
5. Tangible Assets
Total
£
Cost
As at 1 October 2023 75,550
Additions 45,812
As at 30 September 2024 121,362
Depreciation
As at 1 October 2023 52,036
Provided during the period 14,603
As at 30 September 2024 66,639
Net Book Value
As at 30 September 2024 54,723
As at 1 October 2023 23,514
6. Investments
Total
£
Cost
As at 1 October 2023 1,870,375
As at 30 September 2024 1,870,375
Provision
As at 1 October 2023 -
Added in period 207,819
As at 30 September 2024 207,819
Net Book Value
As at 30 September 2024 1,662,556
As at 1 October 2023 1,870,375
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 242 242
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 27,361 37,361
Later than one year and not later than five years 72,000 54,000
99,361 91,361
9. Directors Advances, Credits and Guarantees
At the year end directors owed the company £23,181 (2023 - £30,524). The directors loans are charged interest at HMRC approved rates and have been cleared within 9 months of the year end.
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