Acorah Software Products - Accounts Production 16.3.350 false true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 03116017 Mr P E Richards Mr E H Richards iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03116017 2023-10-31 03116017 2024-10-31 03116017 2023-11-01 2024-10-31 03116017 frs-core:CurrentFinancialInstruments 2024-10-31 03116017 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-10-31 03116017 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-11-01 2024-10-31 03116017 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 03116017 frs-core:PlantMachinery 2024-10-31 03116017 frs-core:PlantMachinery 2023-11-01 2024-10-31 03116017 frs-core:PlantMachinery 2023-10-31 03116017 frs-core:RevaluationReserve 2023-10-31 03116017 frs-core:RevaluationReserve 2024-10-31 03116017 frs-core:ShareCapital 2024-10-31 03116017 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 03116017 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 03116017 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 03116017 frs-bus:SmallEntities 2023-11-01 2024-10-31 03116017 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 03116017 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 03116017 frs-bus:Director1 2023-11-01 2024-10-31 03116017 frs-bus:CompanySecretary1 2023-11-01 2024-10-31 03116017 frs-countries:EnglandWales 2023-11-01 2024-10-31 03116017 2022-10-31 03116017 2023-10-31 03116017 2022-11-01 2023-10-31 03116017 frs-core:CurrentFinancialInstruments 2023-10-31 03116017 frs-core:RevaluationReserve 2023-10-31 03116017 frs-core:ShareCapital 2023-10-31 03116017 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 03116017
Magnaforce Ltd
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03116017
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 57,527 57,838
57,527 57,838
CURRENT ASSETS
Debtors 5 49,484 47,565
Cash at bank and in hand 40 37
49,524 47,602
Creditors: Amounts Falling Due Within One Year 6 (6,713 ) (6,707 )
NET CURRENT ASSETS (LIABILITIES) 42,811 40,895
TOTAL ASSETS LESS CURRENT LIABILITIES 100,338 98,733
NET ASSETS 100,338 98,733
CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 60,000 60,000
Profit and Loss Account 40,238 38,633
SHAREHOLDERS' FUNDS 100,338 98,733
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 P E Richards
Director
24/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Magnaforce Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03116017 . The registered office is Unit 3 Jubilee Court, Swansea West Industrial Park, Fforestfach, Swansea, SA5 4HB.
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 rental of plant and equipment.
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:
Leasehold in accordance with the property lease.
Plant & Machinery 25% on cost.
2.4. 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.
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: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2023 61,880 7,500 69,380
Disposals - (7,500 ) (7,500 )
As at 31 October 2024 61,880 - 61,880
Depreciation
As at 1 November 2023 4,042 7,500 11,542
Provided during the period 311 - 311
Disposals - (7,500 ) (7,500 )
As at 31 October 2024 4,353 - 4,353
Net Book Value
As at 31 October 2024 57,527 - 57,527
As at 1 November 2023 57,838 - 57,838
5. Debtors
2024 2023
£ £
Due after more than one year
Amounts owed by related parties 49,484 47,565
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 449 463
Accruals and deferred income 6,264 6,244
6,713 6,707
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4
Page 5
8. Reserves
Revaluation Reserve
£
As at 1 November 2023 60,000
As at 31 October 2024 60,000
9. Related Party Disclosures
The company was owed £49,484 (2023 - £47,565) from Fernan Ltd, a company in which Mr EH Richards & Mr PE Richards are both directors and shareholders.
Page 5