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REGISTERED NUMBER: 02877297 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ACSOFT LIMITED

ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACSOFT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: J J P Shelton
P A Rubens
A C Hubbard





REGISTERED OFFICE: 11 Abbey Court
Fraser Road
Priory Business Park
Bedford
Bedfordshire
MK44 3WH





REGISTERED NUMBER: 02877297 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 445,325 434,687

CURRENT ASSETS
Stocks 24,617 39,238
Debtors 5 430,625 250,321
Cash at bank and in hand 23 1,826
455,265 291,385
CREDITORS
Amounts falling due within one year 6 (527,550 ) (311,963 )
NET CURRENT LIABILITIES (72,285 ) (20,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,040

414,109

PROVISIONS FOR LIABILITIES (99,732 ) (16,140 )
NET ASSETS 273,308 397,969

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 1 1
Retained earnings 273,207 397,868
SHAREHOLDERS' FUNDS 273,308 397,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by:





P A Rubens - Director


ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

AcSoft Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02877297 and the registered office address is 11 Abbey Court Fraser Road, Priory Business Park, Bedford, England, MK44 3WH.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the cost incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Office equipment- 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 14 ) .

ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Office
property equipment Totals
£    £    £   
COST
At 1 January 2024 32,000 729,945 761,945
Additions 2,460 199,597 202,057
Disposals - (143,333 ) (143,333 )
At 31 December 2024 34,460 786,209 820,669
DEPRECIATION
At 1 January 2024 - 327,258 327,258
Charge for year - 103,018 103,018
Eliminated on disposal - (54,932 ) (54,932 )
At 31 December 2024 - 375,344 375,344
NET BOOK VALUE
At 31 December 2024 34,460 410,865 445,325
At 31 December 2023 32,000 402,687 434,687

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 414,315 233,583
Other debtors 16,310 16,738
430,625 250,321

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,916 -
Trade creditors 151,263 65,366
Amounts owed to group undertakings 141,743 137,106
Taxation and social security 158,546 94,281
Other creditors 11,082 15,210
527,550 311,963

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,500 25,882
Between one and five years 110,833 80,000
169,333 105,882

ACSOFT LIMITED (REGISTERED NUMBER: 02877297)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


8. RELATED PARTY DISCLOSURES

At the year end a balance was due to a related, a company with common directors, of £101,743 (2023: £97,106).

At the year end a balance was due to a related party, the parent company, of £40,000 (2023: £40,000).

At the year end a balance was due from a related party, a company with a common director, of £2,000 (2023: £2,000).