Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 05097544 M R Cheshire iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05097544 2023-09-30 05097544 2024-09-30 05097544 2023-10-01 2024-09-30 05097544 frs-core:CurrentFinancialInstruments 2024-09-30 05097544 frs-core:Non-currentFinancialInstruments 2024-09-30 05097544 frs-core:NetGoodwill 2024-09-30 05097544 frs-core:NetGoodwill 2023-10-01 2024-09-30 05097544 frs-core:NetGoodwill 2023-09-30 05097544 frs-core:ShareCapital 2024-09-30 05097544 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 05097544 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05097544 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 05097544 frs-bus:SmallEntities 2023-10-01 2024-09-30 05097544 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 05097544 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05097544 frs-core:OtherProvisionsContingentLiabilities 2023-10-01 2024-09-30 05097544 frs-core:OtherProvisionsContingentLiabilities 2023-09-30 05097544 frs-core:OtherProvisionsContingentLiabilities 2024-09-30 05097544 frs-bus:Director1 2023-10-01 2024-09-30 05097544 frs-countries:EnglandWales 2023-10-01 2024-09-30 05097544 2022-09-30 05097544 2023-09-30 05097544 2022-10-01 2023-09-30 05097544 frs-core:CurrentFinancialInstruments 2023-09-30 05097544 frs-core:Non-currentFinancialInstruments 2023-09-30 05097544 frs-core:ShareCapital 2023-09-30 05097544 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 05097544
Vantage VC Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05097544
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Stocks 5 931,000 770,000
Debtors 6 267,696 266,044
Cash at bank and in hand 157,708 278,732
1,356,404 1,314,776
Creditors: Amounts Falling Due Within One Year 7 (865,997 ) (827,347 )
NET CURRENT ASSETS (LIABILITIES) 490,407 487,429
TOTAL ASSETS LESS CURRENT LIABILITIES 490,407 487,429
Creditors: Amounts Falling Due After More Than One Year 8 (33,333 ) (83,333 )
PROVISIONS FOR LIABILITIES
Provisions For Charges 9 (102,810 ) (97,240 )
NET ASSETS 354,264 306,856
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 354,164 306,756
SHAREHOLDERS' FUNDS 354,264 306,856
Page 1
Page 2
For the year ending 30 September 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
M R Cheshire
Director
15/04/2025
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
Vantage VC Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05097544 . The registered office is Unit B, Halesfield 8, Telford, Shropshire, TF7 4QN.
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. 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.
2.5. 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 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.
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2.6. Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. 
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. 
When payments are eventually made, they are charged to the provision carried in the Balance sheet. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 19)
24 19
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 68,000
As at 30 September 2024 68,000
Amortisation
As at 1 October 2023 68,000
As at 30 September 2024 68,000
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Stocks
2024 2023
£ £
Materials 534,000 350,000
Work in progress 397,000 420,000
931,000 770,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 244,446 250,537
Prepayments and accrued income 12,823 10,376
Other debtors 10,427 5,131
267,696 266,044
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 540,077 489,313
Bank loans and overdrafts 50,000 50,000
Corporation tax 14,991 11,487
Other taxes and social security 24,614 19,946
VAT 72,348 72,165
Other creditors 9,106 7,273
Accruals and deferred income 1,400 3,000
Director's loan account 50 -
Amounts owed to group undertakings 153,411 174,163
865,997 827,347
HSBC Bank PLC holds a debenture and fixed and floating charge over all assets of the company. 
HSBC Invoice Finance (UK) Ltd hold a fixed equitable charge over all debts purchased by them. They also hold a floating charge over the undertaking. 
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 33,333 83,333
9. Provisions for Liabilities
Other Provisions Total
£ £
As at 1 October 2023 97,240 97,240
Utilised 5,570 5,570
Balance at 30 September 2024 102,810 102,810
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,596 (2022: £4,313) were due to the fund. They are included in Other Creditors.
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