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 08667715 Mr David O'Neal iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08667715 2023-08-31 08667715 2024-08-31 08667715 2023-09-01 2024-08-31 08667715 frs-core:CurrentFinancialInstruments 2024-08-31 08667715 frs-core:Non-currentFinancialInstruments 2024-08-31 08667715 frs-core:ComputerEquipment 2024-08-31 08667715 frs-core:ComputerEquipment 2023-09-01 2024-08-31 08667715 frs-core:ComputerEquipment 2023-08-31 08667715 frs-core:FurnitureFittings 2024-08-31 08667715 frs-core:FurnitureFittings 2023-09-01 2024-08-31 08667715 frs-core:FurnitureFittings 2023-08-31 08667715 frs-core:NetGoodwill 2024-08-31 08667715 frs-core:NetGoodwill 2023-09-01 2024-08-31 08667715 frs-core:NetGoodwill 2023-08-31 08667715 frs-core:PlantMachinery 2024-08-31 08667715 frs-core:PlantMachinery 2023-09-01 2024-08-31 08667715 frs-core:PlantMachinery 2023-08-31 08667715 frs-core:ShareCapital 2024-08-31 08667715 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 08667715 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08667715 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 08667715 frs-bus:SmallEntities 2023-09-01 2024-08-31 08667715 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08667715 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08667715 frs-bus:Director1 2023-09-01 2024-08-31 08667715 frs-countries:EnglandWales 2023-09-01 2024-08-31 08667715 2022-08-31 08667715 2023-08-31 08667715 2022-09-01 2023-08-31 08667715 frs-core:CurrentFinancialInstruments 2023-08-31 08667715 frs-core:Non-currentFinancialInstruments 2023-08-31 08667715 frs-core:ShareCapital 2023-08-31 08667715 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 08667715
Shortcuts (MK) Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08667715
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 - 462
Tangible Assets 4 761 186
761 648
CURRENT ASSETS
Debtors 5 11,142 11,820
Cash at bank and in hand 60,684 92,483
71,826 104,303
Creditors: Amounts Falling Due Within One Year 6 (17,179 ) (34,692 )
NET CURRENT ASSETS (LIABILITIES) 54,647 69,611
TOTAL ASSETS LESS CURRENT LIABILITIES 55,408 70,259
Creditors: Amounts Falling Due After More Than One Year 7 (19,558 ) (26,382 )
NET ASSETS 35,850 43,877
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 35,848 43,875
SHAREHOLDERS' FUNDS 35,850 43,877
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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 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
Mr David O'Neal
Director
08/05/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3. 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.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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 20% straight line
Fixtures & Fittings 15% straight line
Computer Equipment 33.3% straight line
1.5. 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 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.
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. Average Number of Employees
Average number of employees, including directors, during the year was 7 14 (2023: 15)
14 15
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3. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 4,621
As at 31 August 2024 4,621
Amortisation
As at 1 September 2023 4,159
Provided during the period 462
As at 31 August 2024 4,621
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 462
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 2,948 27,299 1,537 31,784
Additions - 896 - 896
As at 31 August 2024 2,948 28,195 1,537 32,680
Depreciation
As at 1 September 2023 2,761 27,300 1,537 31,598
Provided during the period 187 134 - 321
As at 31 August 2024 2,948 27,434 1,537 31,919
Net Book Value
As at 31 August 2024 - 761 - 761
As at 1 September 2023 187 (1 ) - 186
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 9,142 8,720
Other debtors 2,000 3,100
11,142 11,820
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 7,000 7,000
Corporation tax 63 7,666
Other taxes and social security 3,920 3,675
VAT 5,632 16,124
Director's loan account 564 228
17,179 34,692
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,426 12,250
Other creditors 14,132 14,132
19,558 26,382
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 4,000
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