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Registered number: 11042263
Babocush Limited
Financial Statements
For The Year Ended 31 December 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11042263
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,442 6,105
Tangible Assets 5 215 4,186
4,657 10,291
CURRENT ASSETS
Stocks 6 123,440 101,980
Debtors 7 42,449 19,936
Cash at bank and in hand 66,435 154,573
232,324 276,489
Creditors: Amounts Falling Due Within One Year 8 (74,073 ) (100,305 )
NET CURRENT ASSETS (LIABILITIES) 158,251 176,184
TOTAL ASSETS LESS CURRENT LIABILITIES 162,908 186,475
Creditors: Amounts Falling Due After More Than One Year 9 (14,167 ) (24,167 )
NET ASSETS 148,741 162,308
CAPITAL AND RESERVES
Called up share capital 10 1,400 1,400
Income Statement 147,341 160,908
SHAREHOLDERS' FUNDS 148,741 162,308
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 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 Income Statement.
On behalf of the board
Mr T Suleyman
Director
28/04/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Babocush Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11042263 . The registered office is 3rd Floor 9 Hatton Street, London, NW8 8PL.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Patents and licences are being amortised evenly over their estimated useful life of ten years. Website costs is being amortised evenly over its estimated useful life of four years.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. 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:
Plant & Machinery 33% on cost
Computer Equipment 20% on cost
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.
2.8. 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: 1 (2023: 1)
1 1
4. Intangible Assets
Other Development Costs Total
£ £ £
Cost
As at 1 January 2024 1,543 10,350 11,893
As at 31 December 2024 1,543 10,350 11,893
...CONTINUED
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Amortisation
As at 1 January 2024 69 5,719 5,788
Provided during the period 201 1,462 1,663
As at 31 December 2024 270 7,181 7,451
Net Book Value
As at 31 December 2024 1,273 3,169 4,442
As at 1 January 2024 1,474 4,631 6,105
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 60,736 403 61,139
As at 31 December 2024 60,736 403 61,139
Depreciation
As at 1 January 2024 56,606 347 56,953
Provided during the period 3,915 56 3,971
As at 31 December 2024 60,521 403 60,924
Net Book Value
As at 31 December 2024 215 - 215
As at 1 January 2024 4,130 56 4,186
6. Stocks
2024 2023
£ £
Finished goods 123,440 101,980
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 36,134 12,676
Other debtors 6,315 7,260
42,449 19,936
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,166 42,921
Other creditors 45,102 48,039
Taxation and social security 1,805 9,345
74,073 100,305
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,167 24,167
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,400 1,400
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