Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 04869229 Mr Dominic Raban Mr Daniel Taylor Mrs Ruth Raban iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04869229 2023-08-31 04869229 2024-08-31 04869229 2023-09-01 2024-08-31 04869229 frs-core:CurrentFinancialInstruments 2024-08-31 04869229 frs-core:Non-currentFinancialInstruments 2024-08-31 04869229 frs-core:FurnitureFittings 2024-08-31 04869229 frs-core:FurnitureFittings 2023-09-01 2024-08-31 04869229 frs-core:FurnitureFittings 2023-08-31 04869229 frs-core:NetGoodwill 2024-08-31 04869229 frs-core:NetGoodwill 2023-09-01 2024-08-31 04869229 frs-core:NetGoodwill 2023-08-31 04869229 frs-core:MotorVehicles 2023-09-01 2024-08-31 04869229 frs-core:PlantMachinery 2024-08-31 04869229 frs-core:PlantMachinery 2023-09-01 2024-08-31 04869229 frs-core:PlantMachinery 2023-08-31 04869229 frs-core:RevaluationReserve 2023-08-31 04869229 frs-core:RevaluationReserve 2024-08-31 04869229 frs-core:ShareCapital 2024-08-31 04869229 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 04869229 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04869229 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 04869229 frs-bus:SmallEntities 2023-09-01 2024-08-31 04869229 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04869229 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04869229 frs-core:UnlistedNon-exchangeTraded 2024-08-31 04869229 frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-08-31 04869229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-08-31 04869229 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-08-31 04869229 frs-bus:Director1 2023-09-01 2024-08-31 04869229 frs-bus:Director2 2023-09-01 2024-08-31 04869229 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 04869229 frs-countries:EnglandWales 2023-09-01 2024-08-31 04869229 2022-08-31 04869229 2023-08-31 04869229 2022-09-01 2023-08-31 04869229 frs-core:CurrentFinancialInstruments 2023-08-31 04869229 frs-core:Non-currentFinancialInstruments 2023-08-31 04869229 frs-core:RevaluationReserve 2023-08-31 04869229 frs-core:ShareCapital 2023-08-31 04869229 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 04869229
Corporation Pop Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Axis Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04869229
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 15,621 19,139
Investments 6 286,139 286,139
301,760 305,278
CURRENT ASSETS
Stocks 7 66,700 66,700
Debtors 8 133,637 148,899
Cash at bank and in hand - 6,195
200,337 221,794
Creditors: Amounts Falling Due Within One Year 9 (100,896 ) (115,053 )
NET CURRENT ASSETS (LIABILITIES) 99,441 106,741
TOTAL ASSETS LESS CURRENT LIABILITIES 401,201 412,019
Creditors: Amounts Falling Due After More Than One Year 10 (13,179 ) (28,695 )
NET ASSETS 388,022 383,324
CAPITAL AND RESERVES
Called up share capital 11 400 400
Revaluation reserve 12 71,250 71,250
Profit and Loss Account 316,372 311,674
SHAREHOLDERS' FUNDS 388,022 383,324
Page 1
Page 2
For the year ending 31 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 Dominic Raban
Director
Mr Daniel Taylor
Director
16/10/2024
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
Corporation Pop Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04869229 . The registered office is 21 Shudehill, Manchester, M4 2AF.
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 10 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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% 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
Page 3
Page 4
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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 16 17
16 17
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 30,000
As at 31 August 2024 30,000
Amortisation
As at 1 September 2023 30,000
As at 31 August 2024 30,000
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 108,234 23,589 131,823
Additions 490 500 990
As at 31 August 2024 108,724 24,089 132,813
Depreciation
As at 1 September 2023 93,413 19,271 112,684
Provided during the period 3,934 574 4,508
As at 31 August 2024 97,347 19,845 117,192
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 August 2024 11,377 4,244 15,621
As at 1 September 2023 14,821 4,318 19,139
6. Investments
Unlisted
£
Cost
As at 1 September 2023 286,139
As at 31 August 2024 286,139
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 286,139
As at 1 September 2023 286,139
7. Stocks
2024 2023
£ £
Work in progress 66,700 66,700
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 101,557 114,706
Other debtors 16,997 20,000
Corporation tax recoverable assets 15,083 14,193
133,637 148,899
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,840 10,167
Bank loans and overdrafts 33,165 25,274
PAYE 8,721 21,316
VAT 43,912 52,381
Other creditors 4,858 3,515
Accruals and deferred income 2,400 2,400
100,896 115,053
Page 5
Page 6
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,179 28,695
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 400 400
12. Reserves
Revaluation Reserve
£
As at 1 September 2023 71,250
As at 31 August 2024 71,250
Page 6