Acorah Software Products - Accounts Production 16.3.350 false true 27 August 2023 28 August 2022 false 28 August 2023 27 August 2024 27 August 2024 08165293 Mr David Geoffrey Francis Herring Mrs Suzanna Joy Herring Mrs Suzanna Joy Herring iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08165293 2023-08-27 08165293 2024-08-27 08165293 2023-08-28 2024-08-27 08165293 frs-core:CurrentFinancialInstruments 2024-08-27 08165293 frs-core:ComputerEquipment 2024-08-27 08165293 frs-core:ComputerEquipment 2023-08-28 2024-08-27 08165293 frs-core:ComputerEquipment 2023-08-27 08165293 frs-core:FurnitureFittings 2024-08-27 08165293 frs-core:FurnitureFittings 2023-08-28 2024-08-27 08165293 frs-core:FurnitureFittings 2023-08-27 08165293 frs-core:MotorVehicles 2024-08-27 08165293 frs-core:MotorVehicles 2023-08-28 2024-08-27 08165293 frs-core:MotorVehicles 2023-08-27 08165293 frs-core:ShareCapital 2024-08-27 08165293 frs-core:RetainedEarningsAccumulatedLosses 2024-08-27 08165293 frs-bus:PrivateLimitedCompanyLtd 2023-08-28 2024-08-27 08165293 frs-bus:FilletedAccounts 2023-08-28 2024-08-27 08165293 frs-bus:SmallEntities 2023-08-28 2024-08-27 08165293 frs-bus:AuditExempt-NoAccountantsReport 2023-08-28 2024-08-27 08165293 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-28 2024-08-27 08165293 frs-core:CostValuation 2023-08-27 08165293 frs-core:CostValuation 2024-08-27 08165293 frs-core:ProvisionsForImpairmentInvestments 2023-08-27 08165293 frs-core:ProvisionsForImpairmentInvestments 2024-08-27 08165293 frs-bus:Director1 2023-08-28 2024-08-27 08165293 frs-bus:Director2 2023-08-28 2024-08-27 08165293 frs-bus:CompanySecretary1 2023-08-28 2024-08-27 08165293 frs-countries:EnglandWales 2023-08-28 2024-08-27 08165293 2022-08-27 08165293 2023-08-27 08165293 2022-08-28 2023-08-27 08165293 frs-core:CurrentFinancialInstruments 2023-08-27 08165293 frs-core:ShareCapital 2023-08-27 08165293 frs-core:RetainedEarningsAccumulatedLosses 2023-08-27
Registered number: 08165293
Netfm UK Limited
Financial Statements
For The Year Ended 27 August 2024
Triple Bottom Line Accounting Limited
Association of International Accountants
The Enterprise Centre University Of East Anglia
Norwich
Norfolk
NR4 7TJ
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 08165293
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,620 -
Investments 5 85,782 85,782
87,402 85,782
CURRENT ASSETS
Debtors 6 366,615 79,013
Cash at bank and in hand 4,723,413 325,366
5,090,028 404,379
Creditors: Amounts Falling Due Within One Year 7 (1,801,501 ) (204,039 )
NET CURRENT ASSETS (LIABILITIES) 3,288,527 200,340
TOTAL ASSETS LESS CURRENT LIABILITIES 3,375,929 286,122
PROVISIONS FOR LIABILITIES
Provisions For Charges (1,475,000 ) -
NET ASSETS 1,900,929 286,122
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,900,927 286,120
SHAREHOLDERS' FUNDS 1,900,929 286,122
For the year ending 27 August 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.
On behalf of the board
Mr David Geoffrey Francis Herring
Director
07/05/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Netfm UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08165293 . The registered office is 45 Church Road East, Withycombe Crowthorne, Berkshire, RG45 7ND.
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:
Motor Vehicles SL
Fixtures & Fittings SL
Computer Equipment SL
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: 6 (2023: 5)
6 5
Page 2
Page 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 28 August 2023 40,890 22,177 16,128 79,195
Additions - - 2,027 2,027
As at 27 August 2024 40,890 22,177 18,155 81,222
Depreciation
As at 28 August 2023 40,890 22,177 16,128 79,195
Provided during the period - - 407 407
As at 27 August 2024 40,890 22,177 16,535 79,602
Net Book Value
As at 27 August 2024 - - 1,620 1,620
As at 28 August 2023 - - - -
5. Investments
Other
£
Cost
As at 28 August 2023 98,000
As at 27 August 2024 98,000
Provision
As at 28 August 2023 12,218
As at 27 August 2024 12,218
Net Book Value
As at 27 August 2024 85,782
As at 28 August 2023 85,782
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 134,357 64,013
Other debtors 232,258 15,000
366,615 79,013
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,441 -
Other creditors 1,203,319 164,218
Taxation and social security 596,741 39,821
1,801,501 204,039
Page 3
Page 4
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4