Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 09489501 Mr Michael Hackett Mrs Elizabeth Bryne Mr Paul Cawthray iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09489501 2024-03-31 09489501 2025-03-31 09489501 2024-04-01 2025-03-31 09489501 frs-core:CurrentFinancialInstruments 2025-03-31 09489501 frs-core:Non-currentFinancialInstruments 2025-03-31 09489501 frs-core:ComputerEquipment 2025-03-31 09489501 frs-core:ComputerEquipment 2024-04-01 2025-03-31 09489501 frs-core:ComputerEquipment 2024-03-31 09489501 frs-core:FurnitureFittings 2025-03-31 09489501 frs-core:FurnitureFittings 2024-04-01 2025-03-31 09489501 frs-core:FurnitureFittings 2024-03-31 09489501 frs-core:NetGoodwill 2025-03-31 09489501 frs-core:NetGoodwill 2024-04-01 2025-03-31 09489501 frs-core:NetGoodwill 2024-03-31 09489501 frs-core:ShareCapital 2025-03-31 09489501 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 09489501 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09489501 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 09489501 frs-bus:SmallEntities 2024-04-01 2025-03-31 09489501 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 09489501 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09489501 frs-bus:Director1 2024-04-01 2025-03-31 09489501 frs-bus:Director2 2024-04-01 2025-03-31 09489501 frs-bus:Director3 2024-04-01 2025-03-31 09489501 frs-countries:EnglandWales 2024-04-01 2025-03-31 09489501 2023-03-31 09489501 2024-03-31 09489501 2023-04-01 2024-03-31 09489501 frs-core:CurrentFinancialInstruments 2024-03-31 09489501 frs-core:Non-currentFinancialInstruments 2024-03-31 09489501 frs-core:ShareCapital 2024-03-31 09489501 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 09489501
Principles Agency Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09489501
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,908 4,522
5,908 4,522
CURRENT ASSETS
Stocks 6 26,088 46,488
Debtors 7 1,048,079 952,198
Cash at bank and in hand 664,186 514,076
1,738,353 1,512,762
Creditors: Amounts Falling Due Within One Year 8 (1,415,233 ) (1,406,018 )
NET CURRENT ASSETS (LIABILITIES) 323,120 106,744
TOTAL ASSETS LESS CURRENT LIABILITIES 329,028 111,266
Creditors: Amounts Falling Due After More Than One Year 9 (11,667 ) (11,667 )
NET ASSETS 317,361 99,599
CAPITAL AND RESERVES
Called up share capital 10 301 301
Profit and Loss Account 317,060 99,298
SHAREHOLDERS' FUNDS 317,361 99,599
Page 1
Page 2
For the year ending 31 March 2025 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 Michael Hackett
Director
17/04/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Principles Agency Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09489501 . The registered office is White Rose House, 8 Otley Road, Leeds, LS6 2AD.
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 - 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 .... 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 Reducing Balance
Computer Equipment Reducing Balance
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2024: 18)
18 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 215,279
As at 31 March 2025 215,279
Amortisation
As at 1 April 2024 215,279
As at 31 March 2025 215,279
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 721 33,646 34,367
Additions - 5,985 5,985
As at 31 March 2025 721 39,631 40,352
Depreciation
As at 1 April 2024 721 29,124 29,845
Provided during the period - 4,599 4,599
As at 31 March 2025 721 33,723 34,444
Net Book Value
As at 31 March 2025 - 5,908 5,908
As at 1 April 2024 - 4,522 4,522
6. Stocks
2025 2024
£ £
Work in progress 26,088 46,488
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Page 5
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,003,294 918,004
Prepayments and accrued income 27,764 28,173
Other debtors 6,021 6,021
Directors' loan accounts 11,000 -
1,048,079 952,198
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 567,128 553,438
Bank loans and overdrafts - 10,000
Corporation tax 141,469 78,080
Other taxes and social security 17,635 13,874
VAT 111,470 47,839
Other creditors 576,195 698,347
Accruals and deferred income 1,336 4,440
1,415,233 1,406,018
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 11,667 11,667
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 301 301
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