Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 01039971 Dr Peter Roberts Mrs Alina Lynden iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01039971 2023-10-31 01039971 2024-10-31 01039971 2023-11-01 2024-10-31 01039971 frs-core:CurrentFinancialInstruments 2024-10-31 01039971 frs-core:ComputerEquipment 2024-10-31 01039971 frs-core:ComputerEquipment 2023-11-01 2024-10-31 01039971 frs-core:ComputerEquipment 2023-10-31 01039971 frs-core:FurnitureFittings 2024-10-31 01039971 frs-core:FurnitureFittings 2023-11-01 2024-10-31 01039971 frs-core:FurnitureFittings 2023-10-31 01039971 frs-core:PlantMachinery 2024-10-31 01039971 frs-core:PlantMachinery 2023-11-01 2024-10-31 01039971 frs-core:PlantMachinery 2023-10-31 01039971 frs-core:ShareCapital 2024-10-31 01039971 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 01039971 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01039971 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 01039971 frs-bus:SmallEntities 2023-11-01 2024-10-31 01039971 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 01039971 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 01039971 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31 01039971 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-10-31 01039971 frs-bus:Director1 2023-11-01 2024-10-31 01039971 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 01039971 frs-countries:EnglandWales 2023-11-01 2024-10-31 01039971 2022-10-31 01039971 2023-10-31 01039971 2022-11-01 2023-10-31 01039971 frs-core:CurrentFinancialInstruments 2023-10-31 01039971 frs-core:ShareCapital 2023-10-31 01039971 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 01039971 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-10-31
Registered number: 01039971
Contract Technology Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 01039971
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,605 11,093
Investment Properties 5 1,717,300 1,717,300
1,719,905 1,728,393
CURRENT ASSETS
Debtors 6 2,365 -
Cash at bank and in hand 260,781 201,257
263,146 201,257
Creditors: Amounts Falling Due Within One Year 7 (37,975 ) (34,506 )
NET CURRENT ASSETS (LIABILITIES) 225,171 166,751
TOTAL ASSETS LESS CURRENT LIABILITIES 1,945,076 1,895,144
PROVISIONS FOR LIABILITIES
Deferred Taxation (209,107 ) (209,107 )
NET ASSETS 1,735,969 1,686,037
CAPITAL AND RESERVES
Called up share capital 8 197 197
Fair value reserve 9 1,081,005 1,081,005
Income Statement 654,767 604,835
SHAREHOLDERS' FUNDS 1,735,969 1,686,037
Page 1
Page 2
For the year ending 31 October 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 Income Statement.
On behalf of the board
Dr Peter Roberts
Director
15/05/2025
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
Contract Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01039971 . The registered office is 1 Durley Lane, Keynsham, Bristol, BS31 2AQ.
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
Rental income is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts. When the outcome of a transaction can be estimated reliably, turnover from consultancy services is
recognised by reference to the stage of completion at the balance sheet date.Where the outcome cannot be
measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
2.3. 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 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.

The methods and significant assumptions used to ascertain the fair value of £1,717,300 and fair value
movement of £0 included in the profit for the year are as follows:

The investment property is leased with a current rent of £103,000 per annum. The director has considered
current market conditions, and assuming a 6% return, a fair value of the property is £1,717,300.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
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 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.
2.7. Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each
balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash
generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its
recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued
amount where the impairment loss is a revaluation decrease.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2023 88,766 7,995 2,722 99,483
Additions 250 - - 250
As at 31 October 2024 89,016 7,995 2,722 99,733
Depreciation
As at 1 November 2023 78,506 7,995 1,889 88,390
Provided during the period 8,193 - 545 8,738
As at 31 October 2024 86,699 7,995 2,434 97,128
Net Book Value
As at 31 October 2024 2,317 - 288 2,605
As at 1 November 2023 10,260 - 833 11,093
5. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 1,717,300
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,365 -
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 23,559 18,582
VAT 3,336 4,613
Other creditors 935 300
Accruals and deferred income 9,442 10,619
Director's loan account 703 392
37,975 34,506
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 197 197
9. Reserves
Fair Value Reserve
£
As at 1 November 2023 1,081,005
As at 31 October 2024 1,081,005
Page 5