Acorah Software Products - Accounts Production 16.3.350 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 05062508 Mr Stuart Walker Mr John McGregor Mrs Diane Broadhead iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05062508 2024-03-31 05062508 2025-03-31 05062508 2024-04-01 2025-03-31 05062508 frs-core:CurrentFinancialInstruments 2025-03-31 05062508 frs-core:Non-currentFinancialInstruments 2025-03-31 05062508 frs-core:BetweenOneFiveYears 2025-03-31 05062508 frs-core:ComputerEquipment 2025-03-31 05062508 frs-core:ComputerEquipment 2024-04-01 2025-03-31 05062508 frs-core:ComputerEquipment 2024-03-31 05062508 frs-core:FurnitureFittings 2025-03-31 05062508 frs-core:FurnitureFittings 2024-04-01 2025-03-31 05062508 frs-core:FurnitureFittings 2024-03-31 05062508 frs-core:NetGoodwill 2025-03-31 05062508 frs-core:NetGoodwill 2024-04-01 2025-03-31 05062508 frs-core:NetGoodwill 2024-03-31 05062508 frs-core:WithinOneYear 2025-03-31 05062508 frs-core:ShareCapital 2025-03-31 05062508 frs-core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 05062508 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 05062508 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05062508 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 05062508 frs-bus:SmallEntities 2024-04-01 2025-03-31 05062508 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05062508 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 05062508 frs-bus:Director1 2024-04-01 2025-03-31 05062508 frs-bus:Director2 2024-04-01 2025-03-31 05062508 frs-bus:Director3 2024-04-01 2025-03-31 05062508 frs-countries:EnglandWales 2024-04-01 2025-03-31 05062508 2023-03-31 05062508 2024-03-31 05062508 2023-04-01 2024-03-31 05062508 frs-core:CurrentFinancialInstruments 2024-03-31 05062508 frs-core:Non-currentFinancialInstruments 2024-03-31 05062508 frs-core:BetweenOneFiveYears 2024-03-31 05062508 frs-core:WithinOneYear 2024-03-31 05062508 frs-core:ShareCapital 2023-03-31 05062508 frs-core:ShareCapital 2024-03-31 05062508 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05062508 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2023-03-31 05062508 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 05062508
Haworths Financial Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 05062508
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 219,000 -
Tangible Assets 5 22,821 4,109
241,821 4,109
CURRENT ASSETS
Debtors 6 586,781 599,574
Cash at bank and in hand 2,157,571 54,595
2,744,352 654,169
Creditors: Amounts Falling Due Within One Year 7 (171,693 ) (285,843 )
NET CURRENT ASSETS (LIABILITIES) 2,572,659 368,326
TOTAL ASSETS LESS CURRENT LIABILITIES 2,814,480 372,435
Creditors: Amounts Falling Due After More Than One Year 8 (2,777,148 ) (269,262 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,705 ) -
NET ASSETS 31,627 103,173
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 31,626 103,172
SHAREHOLDERS' FUNDS 31,627 103,173
Page 1
Page 2
For the year ending 31 March 2025 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 John McGregor
Director
02/06/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 1 57,596 57,597
Profit for the year and total comprehensive income - 157,076 157,076
Dividends paid - (111,500) (111,500)
As at 31 March 2024 and 1 April 2024 1 103,172 103,173
Profit for the year and total comprehensive income - 69,454 69,454
Dividends paid - (141,000) (141,000)
As at 31 March 2025 1 31,626 31,627
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Haworths Financial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05062508 . The registered office is Ribble Court Business Centre, Meadway, Padiham, Burnley, Lancashire, BB12 7NG.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2007. 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:
Fixtures & Fittings 15% Reducing balance basis
Computer Equipment Straight line basis over 3 years
2.5. 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 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 9)
9 9
Page 4
Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 140,000
Additions 219,000
As at 31 March 2025 359,000
Amortisation
As at 1 April 2024 140,000
As at 31 March 2025 140,000
Net Book Value
As at 31 March 2025 219,000
As at 1 April 2024 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 4,899 12,483 17,382
Additions 13,634 8,045 21,679
As at 31 March 2025 18,533 20,528 39,061
Depreciation
As at 1 April 2024 1,331 11,942 13,273
Provided during the period 1,306 1,661 2,967
As at 31 March 2025 2,637 13,603 16,240
Net Book Value
As at 31 March 2025 15,896 6,925 22,821
As at 1 April 2024 3,568 541 4,109
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 86,667 153,601
Prepayments and accrued income 58,308 7,707
Other debtors 3,914 250
Amounts owed by associates 437,892 438,016
586,781 599,574
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 17,771 21,288
Bank loans and overdrafts 5,556 128,532
Corporation tax 17,632 55,517
Other taxes and social security 8,479 5,058
Other creditors 86,552 8,670
Accruals and deferred income 35,703 26,028
Directors' loan accounts - 40,750
171,693 285,843
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 2,777,148 269,262
Bank borrowings
Clydesdale Bounce back loan is denomianted in Sterling with a nominal interest rate of 2.5%, and the final instalment is due on 11 May 2029. The carrying amount at year end is £28,704  (2024 £34,259).
Loan from Quilter is denominated in Sterling with a nominal interest rate of 0% with no fixed repayment date. The carrying amount at year end is £2,754,000
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 8,801 33,551
Later than one year and not later than five years 111,981 36,033
120,782 69,584
11. Related Party Transactions
Included in Debtors is a loan advance to John McGregor Financial Services Ltd, a company in which the director has 50% of the shares.
The loan is interest free with no fixed repayment date.
Amount at end of period £437,892 (2024 £438,016)
Page 6