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Registered number: 09769637
Counsellor Tutor Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Hallys & Co
Chartered Accountants
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 09769637
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 34,236 24,850
Tangible Assets 5 8,333 6,687
42,569 31,537
CURRENT ASSETS
Debtors 6 4,238 3,159
Cash at bank and in hand 1,352,199 1,264,180
1,356,437 1,267,339
Creditors: Amounts Falling Due Within One Year 7 (182,765 ) (212,735 )
NET CURRENT ASSETS (LIABILITIES) 1,173,672 1,054,604
TOTAL ASSETS LESS CURRENT LIABILITIES 1,216,241 1,086,141
NET ASSETS 1,216,241 1,086,141
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,216,239 1,086,139
SHAREHOLDERS' FUNDS 1,216,241 1,086,141
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 Kenneth Kelly
Director
23/06/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Counsellor Tutor Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09769637 . The registered office is Devonshire House, 582 Honeypot Lane, Stanmore, Middlesex, HA7 1JS.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Application development costs. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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, which range from 7 to 10 years.
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.
2.6. 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% reducing balance
Computer Equipment Straight line over 3 years
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Page 3
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 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.
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: 5 (2023: 5)
5 5
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 October 2023 22,000 10,500 32,500
Additions - 12,818 12,818
As at 30 September 2024 22,000 23,318 45,318
Amortisation
As at 1 October 2023 6,600 1,050 7,650
Provided during the period 1,100 2,332 3,432
As at 30 September 2024 7,700 3,382 11,082
Net Book Value
As at 30 September 2024 14,300 19,936 34,236
As at 1 October 2023 15,400 9,450 24,850
Page 3
Page 4
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 2,963 41,762 44,725
Additions 2,201 6,876 9,077
As at 30 September 2024 5,164 48,638 53,802
Depreciation
As at 1 October 2023 1,232 36,806 38,038
Provided during the period 983 6,448 7,431
As at 30 September 2024 2,215 43,254 45,469
Net Book Value
As at 30 September 2024 2,949 5,384 8,333
As at 1 October 2023 1,731 4,956 6,687
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,238 3,159
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,918 8,369
Bank loans and overdrafts - 47,782
Corporation tax 97,502 68,988
Other taxes and social security 50,418 57,912
Other creditors 24,927 29,684
182,765 212,735
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4