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 06287925 Ms Keri Lewis-Brown iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06287925 2023-09-30 06287925 2024-09-30 06287925 2023-10-01 2024-09-30 06287925 frs-core:CurrentFinancialInstruments 2024-09-30 06287925 frs-core:ComputerEquipment 2024-09-30 06287925 frs-core:ComputerEquipment 2023-10-01 2024-09-30 06287925 frs-core:ComputerEquipment 2023-09-30 06287925 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 06287925 frs-core:FurnitureFittings 2024-09-30 06287925 frs-core:FurnitureFittings 2023-10-01 2024-09-30 06287925 frs-core:FurnitureFittings 2023-09-30 06287925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 06287925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 06287925 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 06287925 frs-core:OtherResidualIntangibleAssets 2024-09-30 06287925 frs-core:OtherResidualIntangibleAssets 2023-10-01 2024-09-30 06287925 frs-core:OtherResidualIntangibleAssets 2023-09-30 06287925 frs-core:ShareCapital 2024-09-30 06287925 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 06287925 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06287925 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 06287925 frs-bus:SmallEntities 2023-10-01 2024-09-30 06287925 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 06287925 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 06287925 frs-bus:Director1 2023-10-01 2024-09-30 06287925 frs-countries:EnglandWales 2023-10-01 2024-09-30 06287925 2022-09-30 06287925 2023-09-30 06287925 2022-10-01 2023-09-30 06287925 frs-core:CurrentFinancialInstruments 2023-09-30 06287925 frs-core:ShareCapital 2023-09-30 06287925 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: 06287925
K7 Media 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: 06287925
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,911 6,547
Tangible Assets 5 73,221 57,483
78,132 64,030
CURRENT ASSETS
Debtors 6 114,900 206,950
Cash at bank and in hand 439,217 613,254
554,117 820,204
Creditors: Amounts Falling Due Within One Year 7 (255,046 ) (233,682 )
NET CURRENT ASSETS (LIABILITIES) 299,071 586,522
TOTAL ASSETS LESS CURRENT LIABILITIES 377,203 650,552
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,205 ) (6,205 )
NET ASSETS 370,998 644,347
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 370,997 644,346
SHAREHOLDERS' FUNDS 370,998 644,347
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 her 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
Ms Keri Lewis-Brown
Director
11/12/2024
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
K7 Media Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06287925 . The registered office is Ducie House Duplex 2, Ducie House, Ducie Street, Manchester, M1 2JW.
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 - Other Intangible
Other intangible assets are website development costs .They are  amortised to profit and loss account over their estimated economic life on a 25% reducing balance basis.
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:
Leasehold 20% reducing balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Cost
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 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.
...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 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 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: 17 (2023: 16)
17 16
4. Intangible Assets
Other
£
Cost
As at 1 October 2023 40,905
As at 30 September 2024 40,905
Amortisation
As at 1 October 2023 34,358
Provided during the period 1,636
As at 30 September 2024 35,994
Net Book Value
As at 30 September 2024 4,911
As at 1 October 2023 6,547
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 97,222 25,253 59,418 181,893
Additions - 27,604 6,990 34,594
As at 30 September 2024 97,222 52,857 66,408 216,487
Depreciation
As at 1 October 2023 64,280 18,460 41,670 124,410
Provided during the period 6,588 6,565 5,703 18,856
As at 30 September 2024 70,868 25,025 47,373 143,266
Net Book Value
As at 30 September 2024 26,354 27,832 19,035 73,221
As at 1 October 2023 32,942 6,793 17,748 57,483
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 69,179 161,808
Other debtors 45,721 45,142
114,900 206,950
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,254 8,053
Bank loans and overdrafts 2,842 3,058
Other creditors 230,084 187,197
Taxation and social security 11,866 35,374
255,046 233,682
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5