Acorah Software Products - Accounts Production 16.3.350 false true 29 February 2024 1 March 2023 false 1 March 2024 28 February 2025 28 February 2025 06117684 Mr James Christopher Kirk iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06117684 2024-02-29 06117684 2025-02-28 06117684 2024-03-01 2025-02-28 06117684 frs-core:CurrentFinancialInstruments 2025-02-28 06117684 frs-core:Non-currentFinancialInstruments 2025-02-28 06117684 frs-core:ComputerEquipment 2025-02-28 06117684 frs-core:ComputerEquipment 2024-03-01 2025-02-28 06117684 frs-core:ComputerEquipment 2024-02-29 06117684 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-02-28 06117684 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 06117684 frs-core:FurnitureFittings 2025-02-28 06117684 frs-core:FurnitureFittings 2024-03-01 2025-02-28 06117684 frs-core:FurnitureFittings 2024-02-29 06117684 frs-core:ShareCapital 2025-02-28 06117684 frs-core:RetainedEarningsAccumulatedLosses 2025-02-28 06117684 frs-bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06117684 frs-bus:FilletedAccounts 2024-03-01 2025-02-28 06117684 frs-bus:SmallEntities 2024-03-01 2025-02-28 06117684 frs-bus:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 06117684 frs-bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 06117684 frs-bus:Director1 2024-03-01 2025-02-28 06117684 frs-bus:Director1 2024-02-29 06117684 frs-bus:Director1 2025-02-28 06117684 frs-countries:EnglandWales 2024-03-01 2025-02-28 06117684 2023-02-28 06117684 2024-02-29 06117684 2023-03-01 2024-02-29 06117684 frs-core:CurrentFinancialInstruments 2024-02-29 06117684 frs-core:Non-currentFinancialInstruments 2024-02-29 06117684 frs-core:ShareCapital 2024-02-29 06117684 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29
Registered number: 06117684
Staffworx Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Giltinan And Kennedy LLP
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: 06117684
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 6,221 8,416
6,221 8,416
CURRENT ASSETS
Debtors 6 229,285 222,814
Cash at bank and in hand 195,375 369,124
424,660 591,938
Creditors: Amounts Falling Due Within One Year 7 (268,405 ) (320,357 )
NET CURRENT ASSETS (LIABILITIES) 156,255 271,581
TOTAL ASSETS LESS CURRENT LIABILITIES 162,476 279,997
Creditors: Amounts Falling Due After More Than One Year 8 (5,752 ) (15,798 )
NET ASSETS 156,724 264,199
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 156,624 264,099
SHAREHOLDERS' FUNDS 156,724 264,199
For the year ending 28 February 2025 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
Mr James Christopher Kirk
Director
09/06/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Staffworx Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06117684 . The registered office is Pineview 6 Newlands Park, Copthorne, Crawley, West Sussex, RH10 3EW.
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. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.3. 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.
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.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. 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 25% Straight Line
Computer Equipment 25% Staright Line
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2.6. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2.7. 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: 2 (2024: 2)
2 2
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4. Intangible Assets
Development Costs
£
Cost
As at 1 March 2024 4,000
As at 28 February 2025 4,000
Amortisation
As at 1 March 2024 4,000
As at 28 February 2025 4,000
Net Book Value
As at 28 February 2025 -
As at 1 March 2024 -
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2024 4,017 10,099 14,116
Additions 737 1,041 1,778
As at 28 February 2025 4,754 11,140 15,894
Depreciation
As at 1 March 2024 555 5,145 5,700
Provided during the period 1,188 2,785 3,973
As at 28 February 2025 1,743 7,930 9,673
Net Book Value
As at 28 February 2025 3,011 3,210 6,221
As at 1 March 2024 3,462 4,954 8,416
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 229,111 221,939
Other debtors 174 875
229,285 222,814
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 169,108 156,723
Bank loans and overdrafts 10,648 10,648
Other creditors 45,688 84,848
Taxation and social security 42,961 68,138
268,405 320,357
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Natwest Business Loan - 31826342 - Long term 5,752 15,798
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Mr James Kirk (115 ) 1,018 (1,791 ) - (888 )
The above loan is unsecured, interest free and repayable on demand.
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