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 07870895 Mr Steven Richardson Mrs Monique Richardson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07870895 2023-12-31 07870895 2024-12-31 07870895 2024-01-01 2024-12-31 07870895 frs-core:CurrentFinancialInstruments 2024-12-31 07870895 frs-core:Non-currentFinancialInstruments 2024-12-31 07870895 frs-core:ComputerEquipment 2024-12-31 07870895 frs-core:ComputerEquipment 2024-01-01 2024-12-31 07870895 frs-core:ComputerEquipment 2023-12-31 07870895 frs-core:FurnitureFittings 2024-12-31 07870895 frs-core:FurnitureFittings 2024-01-01 2024-12-31 07870895 frs-core:FurnitureFittings 2023-12-31 07870895 frs-core:ShareCapital 2024-12-31 07870895 frs-core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 07870895 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 07870895 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07870895 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 07870895 frs-bus:SmallEntities 2024-01-01 2024-12-31 07870895 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 07870895 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07870895 frs-bus:Director1 2024-01-01 2024-12-31 07870895 frs-bus:Director1 2023-12-31 07870895 frs-bus:Director1 2024-12-31 07870895 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 07870895 frs-core:CurrentFinancialInstruments 1 2024-12-31 07870895 frs-core:CurrentFinancialInstruments 3 2024-12-31 07870895 frs-countries:EnglandWales 2024-01-01 2024-12-31 07870895 2022-12-31 07870895 2023-12-31 07870895 2023-01-01 2023-12-31 07870895 frs-core:CurrentFinancialInstruments 2023-12-31 07870895 frs-core:Non-currentFinancialInstruments 2023-12-31 07870895 frs-core:ShareCapital 2022-12-31 07870895 frs-core:ShareCapital 2023-12-31 07870895 frs-core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 07870895 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-12-31 07870895 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 07870895 frs-core:CurrentFinancialInstruments 1 2023-12-31 07870895 frs-core:CurrentFinancialInstruments 3 2023-12-31
Registered number: 07870895
SR1 DEVELOPMENT LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
Hebburn
South Tyneside
NE31 2EQ
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 07870895
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,861 4,496
4,861 4,496
CURRENT ASSETS
Debtors 5 55,803 92,021
Cash at bank and in hand 31,100 37,634
86,903 129,655
Creditors: Amounts Falling Due Within One Year 6 (54,125 ) (94,274 )
NET CURRENT ASSETS (LIABILITIES) 32,778 35,381
TOTAL ASSETS LESS CURRENT LIABILITIES 37,639 39,877
Creditors: Amounts Falling Due After More Than One Year 7 (22,518 ) (37,680 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,215 ) (854 )
NET ASSETS 13,906 1,343
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 13,905 1,342
SHAREHOLDERS' FUNDS 13,906 1,343
Page 1
Page 2
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 Steven Richardson
Director
14/04/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2023 1 1,259 1,260
Profit for the year and total comprehensive income - 134,583 134,583
Dividends paid - (134,500) (134,500)
As at 31 December 2023 and 1 January 2024 1 1,342 1,343
Profit for the year and total comprehensive income - 107,235 107,235
Dividends paid - (94,672) (94,672)
As at 31 December 2024 1 13,905 13,906
Page 3
Page 4
Notes to the Financial Statements
1. General Information
SR1 DEVELOPMENT LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 07870895 . The registered office is Unit 111 South Shields Business Works, Henry Robson Way, South Shields, NE33 1RF.
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 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. 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.
2.5. 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 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.
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.
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2.6. Functional currency
The company’s functional and presentation currency is Pounds Sterling (GBP).
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 3,704 7,364 11,068
Additions 369 1,216 1,585
As at 31 December 2024 4,073 8,580 12,653
Depreciation
As at 1 January 2024 1,746 4,826 6,572
Provided during the period 466 754 1,220
As at 31 December 2024 2,212 5,580 7,792
Net Book Value
As at 31 December 2024 1,861 3,000 4,861
As at 1 January 2024 1,958 2,538 4,496
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 51,360 31,954
Prepayments and accrued income 761 817
Other debtors 485 20,596
Intercompany Loan 3,197 1,937
Director's loan account - 36,717
55,803 92,021
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,010 38
Bank loans and overdrafts 12,607 27,444
Corporation tax 15,898 41,717
Other taxes and social security 2,317 3,655
VAT 21,823 21,420
Pensions Payable 469 -
Director's loan account 1 -
54,125 94,274
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 22,518 37,680
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mr Steven Richardson 36,717 61,766 98,484 - (1 )
Dividends paid to directors
2024 2023
£ £
Mr Steven Richardson 48,282 68,595
Page 6