Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 NI049809 Mr Padraic McKeever Mr Noel Hegarty iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI049809 2023-09-30 NI049809 2024-09-30 NI049809 2023-10-01 2024-09-30 NI049809 frs-core:CurrentFinancialInstruments 2024-09-30 NI049809 frs-core:Non-currentFinancialInstruments 2024-09-30 NI049809 frs-core:BetweenOneFiveYears 2024-09-30 NI049809 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 NI049809 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 NI049809 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 NI049809 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-09-30 NI049809 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 NI049809 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-30 NI049809 frs-core:MotorVehicles 2024-09-30 NI049809 frs-core:MotorVehicles 2023-10-01 2024-09-30 NI049809 frs-core:MotorVehicles 2023-09-30 NI049809 frs-core:PlantMachinery 2024-09-30 NI049809 frs-core:PlantMachinery 2023-10-01 2024-09-30 NI049809 frs-core:PlantMachinery 2023-09-30 NI049809 frs-core:WithinOneYear 2024-09-30 NI049809 frs-core:SharePremium 2024-09-30 NI049809 frs-core:ShareCapital 2024-09-30 NI049809 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI049809 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI049809 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 NI049809 frs-bus:SmallEntities 2023-10-01 2024-09-30 NI049809 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 NI049809 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI049809 frs-bus:Director1 2023-10-01 2024-09-30 NI049809 frs-bus:Director2 2023-10-01 2024-09-30 NI049809 frs-countries:NorthernIreland 2023-10-01 2024-09-30 NI049809 2022-09-30 NI049809 2023-09-30 NI049809 2022-10-01 2023-09-30 NI049809 frs-core:CurrentFinancialInstruments 2023-09-30 NI049809 frs-core:Non-currentFinancialInstruments 2023-09-30 NI049809 frs-core:BetweenOneFiveYears 2023-09-30 NI049809 frs-core:WithinOneYear 2023-09-30 NI049809 frs-core:SharePremium 2023-09-30 NI049809 frs-core:ShareCapital 2023-09-30 NI049809 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Sports Merchandising Ireland Ltd
Financial Statements
For The Year Ended 30 September 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI049809
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 361,509 312,791
Tangible Assets 5 275,001 224,116
636,510 536,907
CURRENT ASSETS
Stocks 6 1,040,808 1,438,725
Debtors 7 429,460 354,116
Cash at bank and in hand 205,278 8,047
1,675,546 1,800,888
Creditors: Amounts Falling Due Within One Year 8 (1,155,933 ) (1,055,840 )
NET CURRENT ASSETS (LIABILITIES) 519,613 745,048
TOTAL ASSETS LESS CURRENT LIABILITIES 1,156,123 1,281,955
Creditors: Amounts Falling Due After More Than One Year 9 (1,092,083 ) (1,392,725 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (43,254 ) (59,431 )
NET ASSETS/(LIABILITIES) 20,786 (170,201 )
CAPITAL AND RESERVES
Called up share capital 11 20 20
Share premium account 40,000 40,000
Profit and Loss Account (19,234 ) (210,221 )
SHAREHOLDERS' FUNDS 20,786 (170,201)
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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
Mr Padraic McKeever
Director
28/01/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Sports Merchandising Ireland Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI049809 . The registered office is 115 Charlestown Road, Portadown, Craigavon, BT63 5PR.
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. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Development costs and associated intellectual property. 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:
Leasehold 10% / 2% SL
Plant & Machinery 20% RB
Motor Vehicles 25% RB
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 55 (2023: 57)
55 57
4. Intangible Assets
Development Costs
£
Cost
As at 1 October 2023 800,278
Additions 79,998
As at 30 September 2024 880,276
Amortisation
As at 1 October 2023 487,487
Provided during the period 31,280
As at 30 September 2024 518,767
Net Book Value
As at 30 September 2024 361,509
As at 1 October 2023 312,791
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 October 2023 311,713 350,709 101,819 764,241
Additions 72,227 68,876 - 141,103
Disposals (110,115 ) - - (110,115 )
As at 30 September 2024 273,825 419,585 101,819 795,229
Depreciation
As at 1 October 2023 189,369 256,590 94,166 540,125
Provided during the period 31,171 24,100 1,913 57,184
Disposals (77,081 ) - - (77,081 )
As at 30 September 2024 143,459 280,690 96,079 520,228
Net Book Value
As at 30 September 2024 130,366 138,895 5,740 275,001
As at 1 October 2023 122,344 94,119 7,653 224,116
6. Stocks
2024 2023
£ £
Finished goods 1,040,808 1,438,725
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 415,594 212,013
Prepayments and accrued income 12,525 69,836
Other debtors - 50,000
VAT - 22,267
Directors' loan accounts 1,341 -
429,460 354,116
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,716 -
Trade creditors 549,189 822,534
Bank loans and overdrafts 103,930 101,808
Corporation tax 32,135 -
Other taxes and social security 24,490 48,157
VAT 68,364 -
Other creditors 232,918 81,933
Accruals and deferred income 19,979 12,025
Directors' loan accounts - 24,179
Amounts owed to related parties 108,212 (34,796 )
1,155,933 1,055,840
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,713 -
Bank loans 148,843 390,308
VAT 724,692 793,212
Other creditors 200,835 209,205
1,092,083 1,392,725
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,716 -
Later than one year and not later than five years 17,713 -
34,429 -
34,429 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
12. Related Party Transactions
Panojo Manufacturing Ltd t/a McKeever ManufacturingShared directors and shareholdersThe company purchased goods in the financial year to the value of £1,403,246. The balance outstanding at the year-end was £108,212, this is disclosed in creditors less than one year.

Panojo Manufacturing Ltd t/a McKeever Manufacturing

Shared directors and shareholders

The company purchased goods in the financial year to the value of £1,403,246. The balance outstanding at the year-end was £108,212, this is disclosed in creditors less than one year.

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