Acorah Software Products - Accounts Production 16.2.850 false true true 31 March 2023 1 April 2022 false 24 April 2025 1 April 2023 31 March 2024 31 March 2024 01382035 A D Gallagher M D Hemme A E Henson A Khan true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01382035 2023-03-31 01382035 2024-03-31 01382035 2023-04-01 2024-03-31 01382035 frs-core:CurrentFinancialInstruments 2024-03-31 01382035 frs-core:Non-currentFinancialInstruments 2024-03-31 01382035 frs-core:FurnitureFittings 2024-03-31 01382035 frs-core:FurnitureFittings 2023-04-01 2024-03-31 01382035 frs-core:FurnitureFittings 2023-03-31 01382035 frs-core:NetGoodwill 2024-03-31 01382035 frs-core:NetGoodwill 2023-04-01 2024-03-31 01382035 frs-core:NetGoodwill 2023-03-31 01382035 frs-core:PlantMachinery 2023-04-01 2024-03-31 01382035 frs-core:ShareCapital 2024-03-31 01382035 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 01382035 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01382035 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 01382035 frs-bus:SmallEntities 2023-04-01 2024-03-31 01382035 frs-bus:Audited 2023-04-01 2024-03-31 01382035 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01382035 1 2023-04-01 2024-03-31 01382035 frs-bus:Director1 2023-04-01 2024-03-31 01382035 frs-bus:Director2 2023-04-01 2024-03-31 01382035 frs-bus:Director3 2023-04-01 2024-03-31 01382035 frs-bus:Director4 2023-04-01 2024-03-31 01382035 frs-countries:EnglandWales 2023-04-01 2024-03-31 01382035 2022-03-31 01382035 2023-03-31 01382035 2022-04-01 2023-03-31 01382035 frs-core:CurrentFinancialInstruments 2023-03-31 01382035 frs-core:Non-currentFinancialInstruments 2023-03-31 01382035 frs-core:ShareCapital 2023-03-31 01382035 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 01382035
Keybar Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01382035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,375 -
Tangible Assets 5 17,909 11,739
29,284 11,739
CURRENT ASSETS
Debtors 6 1,134,972 1,037,196
Cash at bank and in hand 200 153,055
1,135,172 1,190,251
Creditors: Amounts Falling Due Within One Year 7 (1,358,896 ) (1,151,200 )
NET CURRENT ASSETS (LIABILITIES) (223,724 ) 39,051
TOTAL ASSETS LESS CURRENT LIABILITIES (194,440 ) 50,790
Creditors: Amounts Falling Due After More Than One Year 8 (214,000 ) (214,000 )
NET LIABILITIES (408,440 ) (163,210 )
CAPITAL AND RESERVES
Called up share capital 9 200,000 200,000
Profit and Loss Account (608,440 ) (363,210 )
SHAREHOLDERS' FUNDS (408,440) (163,210)
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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
A D Gallagher
Director
24 April 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Keybar Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01382035 . The registered office is Davis House, Robert Street, Surrey, CR0 1QQ.
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
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Interest income
Revenue is recognised as interest accrues using the effective interest method. 
2.4. 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 eight years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. No depreciation is provided in the year of acquisition. 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:
Plant & Machinery at varying rates on cost
Furniture, fixtures and equipment at varying rates 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 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.
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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 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: 10 (2023: 11)
10 11
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 -
Additions 12,000
As at 31 March 2024 12,000
Amortisation
As at 1 April 2023 -
Provided during the period 625
As at 31 March 2024 625
Net Book Value
As at 31 March 2024 11,375
As at 1 April 2023 -
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5. Tangible Assets
Furniture, fixtures and equipment
£
Cost
As at 1 April 2023 121,909
Additions 12,336
As at 31 March 2024 134,245
Depreciation
As at 1 April 2023 110,170
Provided during the period 6,166
As at 31 March 2024 116,336
Net Book Value
As at 31 March 2024 17,909
As at 1 April 2023 11,739
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 917,576 765,381
Other debtors 217,396 271,815
1,134,972 1,037,196
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 46,897 34,316
Other creditors 1,022,791 847,202
Taxation and social security 289,208 269,682
1,358,896 1,151,200
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 214,000 214,000
Other creditors include an interest free loan from Mr P P Flaherty of £214,000. It has been confirmed that Mr P P Flaherty will not seek repayment of this loan within the next 12 months.
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200,000 200,000
10. Pension Commitments
The company operates a work place pension scheme for eligible employees. The assets of the scheme are held separately from those of the company, being invested with insurance companies. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over the employees' working lives with the company.
11. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
12. Ultimate Controlling Party
As at the year end the ultimate controlling party was Aftab Khan.
The immediate controlling party , Newbridge Talent Associates Limited continues to ensure the business is well financed via an invoice discount facility through Close Brothers Group plc..
13. Audit Information
The auditor's report on the accounts of Keybar Limited for the year ended 31 March 2024 was unqualified.
The auditor's report was signed by Raymond McDonagh FCA (Senior Statutory Auditor) for and on behalf of Crane & Partners , Statutory Auditor.
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