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 04873438 Mr Mark Vernon Mrs Deborah Vernon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04873438 2023-08-31 04873438 2024-08-31 04873438 2023-09-01 2024-08-31 04873438 frs-core:CurrentFinancialInstruments 2024-08-31 04873438 frs-core:ComputerEquipment 2024-08-31 04873438 frs-core:ComputerEquipment 2023-09-01 2024-08-31 04873438 frs-core:ComputerEquipment 2023-08-31 04873438 frs-core:PlantMachinery 2024-08-31 04873438 frs-core:PlantMachinery 2023-09-01 2024-08-31 04873438 frs-core:PlantMachinery 2023-08-31 04873438 frs-core:ShareCapital 2024-08-31 04873438 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 04873438 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04873438 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 04873438 frs-bus:SmallEntities 2023-09-01 2024-08-31 04873438 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04873438 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04873438 frs-bus:Director1 2023-09-01 2024-08-31 04873438 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 04873438 frs-countries:EnglandWales 2023-09-01 2024-08-31 04873438 2022-08-31 04873438 2023-08-31 04873438 2022-09-01 2023-08-31 04873438 frs-core:CurrentFinancialInstruments 2023-08-31 04873438 frs-core:ShareCapital 2023-08-31 04873438 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 04873438
Mark Vernon Wealth Management Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04873438
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,177 1,740
1,177 1,740
CURRENT ASSETS
Debtors 5 28,000 30,500
Cash at bank and in hand 5,000 7,440
33,000 37,940
Creditors: Amounts Falling Due Within One Year 6 (18,497 ) (24,540 )
NET CURRENT ASSETS (LIABILITIES) 14,503 13,400
TOTAL ASSETS LESS CURRENT LIABILITIES 15,680 15,140
NET ASSETS 15,680 15,140
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 15,580 15,040
SHAREHOLDERS' FUNDS 15,680 15,140
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 Mark Vernon
Director
30/05/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Mark Vernon Wealth Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04873438 . The registered office is Rose Cottage 77 Watergate, Methley, Leeds, West Yorkshire, LS26 9DG.
2. Accounting Policies
2.1. 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).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. 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 15% reducing balance
Computer Equipment 33% reducing balance
2.4. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 2
Page 3
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 1,600 10,194 11,794
As at 31 August 2024 1,600 10,194 11,794
Depreciation
As at 1 September 2023 1,538 8,516 10,054
Provided during the period 9 554 563
As at 31 August 2024 1,547 9,070 10,617
Net Book Value
As at 31 August 2024 53 1,124 1,177
As at 1 September 2023 62 1,678 1,740
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 28,000 30,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 8,652 9,423
Corporation tax 7,413 12,963
Accruals and deferred income 2,089 2,089
Director's loan account 343 65
18,497 24,540
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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