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Registered number: 05597658
Platform 365 Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
1 Accounts Online Ltd
Office 117
The Epicentre
Haverhill
Suffolk
CB9 7LR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05597658
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,449 1,485
Investments 5 100 174
2,549 1,659
CURRENT ASSETS
Stocks 6 167,399 150,090
Debtors 7 192,871 187,959
Cash at bank and in hand 147,417 132,906
507,687 470,955
Creditors: Amounts Falling Due Within One Year 8 (300,809 ) (307,077 )
NET CURRENT ASSETS (LIABILITIES) 206,878 163,878
TOTAL ASSETS LESS CURRENT LIABILITIES 209,427 165,537
NET ASSETS 209,427 165,537
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 209,327 165,437
SHAREHOLDERS' FUNDS 209,427 165,537
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For the year ending 30 November 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
Mr Robert Guy
Director
Mr Mark Willis
Director
17 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
Platform 365 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05597658 . The registered office is 18 Beaufort Court Admirals Way, Canary Wharf, London, E14 9XL.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Plant & Machinery 25% reducing balance
Computer Equipment 20% reducing balance
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. 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 year 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 asset reflects 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.  The deferred tax asset has not been provided for due to the uncertainty around when it will be used.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Group accounts not prepared
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 18)
19 18
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 68,498 70,976 139,474
Additions 904 1,291 2,195
As at 30 November 2024 69,402 72,267 141,669
Depreciation
As at 1 December 2023 68,185 69,804 137,989
Provided during the period 331 900 1,231
As at 30 November 2024 68,516 70,704 139,220
Net Book Value
As at 30 November 2024 886 1,563 2,449
As at 1 December 2023 313 1,172 1,485
5. Investments
Unlisted
£
Cost
As at 1 December 2023 174
Disposals (74 )
As at 30 November 2024 100
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 100
As at 1 December 2023 174
All investments are held at original cost upon creation.  Details of the investments are below:-
Platform 365 For Education Ltd, 18 Beaufort Court, Admirals Way, Canary Wharf, London, E14 9XL. Ordinary shares held and the proportion of voting rights and shares held are 100% (2023: 100%). The company is incorporated in England and Wales and the principal activity continued to be the provision of other information technology service activities for educational benefit. The profit / (loss) for the financial period was £11,202 (2023: £10,853) and the aggregate amount of capital and reserves at the end of the period was £(4,400) (2023: £(15,602)).
Platform 365 (Canada) Ltd, 203-3883 Highway 7 West, Woodbridge, Ontario, Canada, L4L 6C1. Ordinary shares held and the proportion of voting rights and shares held are 100% (2023: 100%). The company is incorporated in Canada and the principal activity continued to be the provision of other information technology service activities. The profit / (loss) for the financial period to September 2023 was £(62,656) and the aggregate amount of capital and reserves at the end of the period to September 2023 was £2. The company was closed during the year.
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6. Stocks
2024 2023
£ £
Finished goods 167,399 150,090
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 157,212 115,526
Prepayments and accrued income 5,789 15,444
Other debtors 6,164 6,289
Corporation tax recoverable assets 150 -
Amounts owed by subsidiaries 23,556 50,700
192,871 187,959
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 244,861 241,733
Other taxes and social security 20,261 23,371
VAT 15,810 14,874
Other creditors 3,252 5,138
Accruals and deferred income 223 5,559
Directors' loan accounts 16,402 16,402
300,809 307,077
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 43,789 21,993
Later than one year and not later than five years 37,752 3,844
81,541 25,837
11. Related Party Transactions
Platform 365 For Education Ltd (100% owned subsidiary) owed the company at the year end £23,556 (2023: £50,700). This loan is interest free and repayable on demand.  All inter-business trading was completed at market value.
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