Acorah Software Products - Accounts Production 16.3.350 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 04467878 Mr S G Kenny iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04467878 2023-06-30 04467878 2024-06-30 04467878 2023-07-01 2024-06-30 04467878 frs-core:CurrentFinancialInstruments 2024-06-30 04467878 frs-core:Non-currentFinancialInstruments 2024-06-30 04467878 frs-core:BetweenOneFiveYears 2024-06-30 04467878 frs-core:ComputerEquipment 2024-06-30 04467878 frs-core:ComputerEquipment 2023-07-01 2024-06-30 04467878 frs-core:ComputerEquipment 2023-06-30 04467878 frs-core:FurnitureFittings 2024-06-30 04467878 frs-core:FurnitureFittings 2023-07-01 2024-06-30 04467878 frs-core:FurnitureFittings 2023-06-30 04467878 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-06-30 04467878 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 04467878 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-30 04467878 frs-core:MotorVehicles 2024-06-30 04467878 frs-core:MotorVehicles 2023-07-01 2024-06-30 04467878 frs-core:MotorVehicles 2023-06-30 04467878 frs-core:WithinOneYear 2024-06-30 04467878 frs-core:ShareCapital 2024-06-30 04467878 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 04467878 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04467878 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 04467878 frs-bus:SmallEntities 2023-07-01 2024-06-30 04467878 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04467878 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04467878 frs-bus:Director1 2023-07-01 2024-06-30 04467878 frs-bus:Director1 2023-06-30 04467878 frs-bus:Director1 2024-06-30 04467878 frs-countries:EnglandWales 2023-07-01 2024-06-30 04467878 2022-06-30 04467878 2023-06-30 04467878 2022-07-01 2023-06-30 04467878 frs-core:CurrentFinancialInstruments 2023-06-30 04467878 frs-core:Non-currentFinancialInstruments 2023-06-30 04467878 frs-core:BetweenOneFiveYears 2023-06-30 04467878 frs-core:MotorVehicles 2022-07-01 2023-06-30 04467878 frs-core:WithinOneYear 2023-06-30 04467878 frs-core:ShareCapital 2023-06-30 04467878 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 04467878
SK Medical Practice Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04467878
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 197,842 217,217
197,842 217,217
CURRENT ASSETS
Debtors 5 5,559,795 6,321,905
Cash at bank and in hand 13,260 5,931
5,573,055 6,327,836
Creditors: Amounts Falling Due Within One Year 6 (3,872,322 ) (3,777,014 )
NET CURRENT ASSETS (LIABILITIES) 1,700,733 2,550,822
TOTAL ASSETS LESS CURRENT LIABILITIES 1,898,575 2,768,039
Creditors: Amounts Falling Due After More Than One Year 7 (366,315 ) (687,438 )
NET ASSETS 1,532,260 2,080,601
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 1,532,258 2,080,599
SHAREHOLDERS' FUNDS 1,532,260 2,080,601
Page 1
Page 2
For the year ending 30 June 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 S G Kenny
Director
26 June 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SK Medical Practice Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04467878 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
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 assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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 Straight line over 125 years
Motor vehicles 20% reducing balance
Fixtures and fittings 20% straight line
Computer equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
2.5. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Page 3
Page 4
2.6. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
2.10. Estimates
Bad Debt Provision
All customer balances are reviewed on a line by line basis, with consideration given to the ageing of each balance, to determine the total bad debt provision.
Due to the nature of the business the bad debt provision is net against turnover, so that revenue recognised reflects any uncertainty as to the amount which will be received once the case has been settled.
Provision for Unearned Profit
The profit element included within the trade debtor balances which has not yet materialised has been removed via a provision for unearned profit accounted for within liabilities.
The expected gross profit margin is 35%.
2.11. Debt Factoring
The company has entered into a debt factoring arrangement during the period to manage its debts owed from customers.
The company providing the debt factoring service does not have the risks and rewards of the debts, and so the debts continue to be recognised as assets within the financial statements.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 23)
17 23
Page 4
Page 5
4. Tangible Assets
Land & Property
Leasehold Motor vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 177,977 120,495 99,343 128,346 526,161
Additions - - 435 924 1,359
As at 30 June 2024 177,977 120,495 99,778 129,270 527,520
Depreciation
As at 1 July 2023 27,053 64,825 96,430 120,636 308,944
Provided during the period 1,424 11,134 1,653 6,523 20,734
As at 30 June 2024 28,477 75,959 98,083 127,159 329,678
Net Book Value
As at 30 June 2024 149,500 44,536 1,695 2,111 197,842
As at 1 July 2023 150,924 55,670 2,913 7,710 217,217
The property is a leasehold property with a 125 year lease in place. 
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
as restated
£ £
Motor vehicles 29,334 36,667
5. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 1,220,258 1,675,999
Prepayments and accrued income 100,612 86,274
Other debtors 1,398,945 1,696,839
Deferred tax current asset 9,767 6,674
Director's loan account 2,830,213 2,856,119
5,559,795 6,321,905
Page 5
Page 6
6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 16,543 32,195
Trade creditors 2,158,244 2,452,425
Bank loans and overdrafts 422,494 486,534
Corporation tax 47,014 55,600
Other taxes and social security 150,622 56,898
VAT 87,958 35,121
Other creditors 773,549 590,148
Accruals and deferred income 215,898 68,093
3,872,322 3,777,014
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts - 6,043
Bank loans 366,315 681,395
366,315 687,438
8. Secured Creditors
Of the creditors the following amounts are secured.
The bank loans are secured by way of a fixed and floating charge dated 12 January 2017 over all property and undertakings of the company and a mortgage dated 5 November 2009 over all monies due or to become due from the company to the charge on any account whatsoever.
There is an other creditor totalling £349k which is secured by means of a debt factoring arrangement against the customer balances to which they relate.
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 16,543 28,041
Bank loans and overdrafts 773,636 1,166,811
Other Creditors 349,385 -
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,543 32,195
Later than one year and not later than five years - 6,043
16,543 38,238
16,543 38,238
Page 6
Page 7
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2 2
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
as restated
£ £
Not later than one year 28,645 35,529
Later than one year and not later than five years 31,032 35,806
59,677 71,335
12. Directors Advances, Credits and Guarantees
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Steven Kenny 2,856,119 194,642 220,548 - 2,830,213
 The above loan is interest free and repayable on demand.
13. Related Party Transactions
The following related party transactions were undertaken during the year:
During the period amounts of £37,934 (2023: £36,557) were advanced to a company under common control of which £105,551 (2023: £105,551) has been repaid. At the balance sheet date the balance receivable from the company totalled £234,612 (2023: £302,229).
A company under common control had a brought forward advance totalling £231,123. This balance was written off during the period. At the balance sheet date the amounts receivable from the company totalled £Nil (2023: £231,123). 
Dividends were paid to the directors in respect of their shareholdings totalling £122,360 (2023: £404,408).
The aggregate remuneration paid to key management personnel for the year was £343,547 (2023: £149,167).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
14. Audit Information
The auditor's report was signed by Statutory Auditor.
Page 7