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Registered number: 09248336
Flyford Connect Limited
Financial Statements
For The Year Ended 30 September 2024
Gravitate Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09248336
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,032 5,264
4,032 5,264
CURRENT ASSETS
Stocks 5 2,500 2,000
Debtors 6 77,191 27,670
Cash at bank and in hand 135,498 131,164
215,189 160,834
Creditors: Amounts Falling Due Within One Year 7 (113,771 ) (71,561 )
NET CURRENT ASSETS (LIABILITIES) 101,418 89,273
TOTAL ASSETS LESS CURRENT LIABILITIES 105,450 94,537
Creditors: Amounts Falling Due After More Than One Year 8 - (13,333 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,008 ) -
NET ASSETS 104,442 81,204
CAPITAL AND RESERVES
Called up share capital 9 2,000 2,000
Profit and Loss Account 102,442 79,204
SHAREHOLDERS' FUNDS 104,442 81,204
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 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
P Farey
Director
6th June 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Flyford Connect Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09248336 . The registered office is Unit 5 Brunel Park Industrial Estate Blyth Road, Harworth, Doncaster, DN11 8NE.
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.
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. 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:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 10% Reducing Balance
Computer Equipment 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Debtors and creditors with no stated interest rate, and repayable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit or loss account within overheads. 
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.
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.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 5,797 809 196 6,802
As at 30 September 2024 5,797 809 196 6,802
Depreciation
As at 1 October 2023 1,328 153 57 1,538
Provided during the period 1,117 66 49 1,232
As at 30 September 2024 2,445 219 106 2,770
Net Book Value
As at 30 September 2024 3,352 590 90 4,032
As at 1 October 2023 4,469 656 139 5,264
5. Stocks
2024 2023
£ £
Stock 2,500 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 43,865 7,850
Other debtors 33,326 19,820
77,191 27,670
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,002 37,393
Bank loans and overdrafts 13,333 8,000
Other creditors 44,060 7,390
Taxation and social security 36,376 18,778
113,771 71,561
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 13,333
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,000 2,000
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